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If buyer finds the COV for hdb resale tramsaction too high, is their only option to terminate the transaction and forfeit the $1000 deposit? Or they can try to negotiate the transaction price downwards even after valuation? Thanks.
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4 Answers

Hi,

Yes in this case, buyer can further negotiate with the seller and will need to fill a new OTP.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Dear sir/mdm,

It is possible to renegotiate another price as long as seller accepts, nevertheless do take note that a brand new OTP needs to be inked and a brand new valuation request needs to be put up. I have done this for a transaction before just last year.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

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  • Geryl Lim
    hi Hazel, apologies but i do not recall if there is any change to the valuation for the new OTP, as buyer has their own agent and did not disclose the valuation for the 2nd OTP. This is not a default arrangement as the seller did not need to adjust their price downwards for the buyer, but since my seller was serious in selling, we did the consideration and made necessary adjustments.
  • HL
    Hi Geryl, in the transaction you done just last year where the parties go for new OTP and brand new valuation, may i know if the new valuation report comes back at the same valuation amount as the 1st report please?
Andy Liew Chun Kit
Yes. All is not lost, as you could re-negotiate with the seller on a revised deal (via a new OTP, to be re-issued by seller).

Pls feel free to get in touch with me at 97222826  , if you have further questions.

Thanks & Kind Regards,
Andy Liew
Huttons Asia Pte Ltd
Andy.liewchunkit@gmail.com Read More
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Robbie Chen Chee Howe
Hi,

Yes, this is possible, provided the Seller is willing to sell the flat at a lower price.

Do take note that should an agreement be reached, it will be treated as a new transaction, and a new OTP has to be issued, and a new Valuation request to be done again.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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