6 Answers

askguru expert
Hi Stephen Leong, thanks for writing to us on AskGuru.

The number of days to submit the Option to Purchase (OTP) is based on a mutual agreement between both parties, provided they are both agreeable to it.

This is because the seller may need more time to look for his or her next property.

Hope this answers your question.

Best Regards,

Team PropertyGuru Read More

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Geryl Lim
Hi Stephen,

Yes, it is a pretty common situation for HDB resale transaction where the resale application submission can be indicated for 60 days and even slightly longer. In such situation, it is typically to plan out for the transition of the sale to the purchase, allowing funds from sale to be made available to complete their purchase transaction or even to plan out for any major event happening within the family like wedding, giving births and etc. If it is a concern of the buyer on the number of days to submit the resale application, I always encourage to check on the reason behind, therefore buyer can decide if this condition is acceptable or not.

I have been in the real estate business since 2009, with more than 12 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.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888 [mob] +65 81577565 [LDA] +65 92787772
www.geryllim.com
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Nick Tan
Hi Stephen,

The number of days for submission can be discussed between the buyers and sellers before the OTP is issued. For the seller, he may need a longer submission period so that he can get more time to look for his next housing and time the submission together with his purchase timeline.

Please feel free to contact me if you have other questions!

Regards,
Nick Tan
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020

Visit my website to get to know me better:
www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

Testimonial from Satisfied Clients
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
Weilun & Benita (Property Seller)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations. We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer) Read More

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Ling CK
Hi,

1) You will notice this is left blank for you to fill in on pg 3 of the OTP.
2) This is so that both parties have sufficient time to settle incoming funds for the buyers and the extension needed on the sellers.
3) This number range from 14 days to 90 days is not uncommon.
4) You have to have to detail discussion with the seller directly to understand the needs and whether you are willing to wait.
5) Do not rush in the buying process, both parties must be comfortable with the arrangement to avoid future unhappiness.
6) If you feel that 2 months waiting time is too lengthy you may discuss it for a shorter period. Just ensure both parties are really comfortable to enter into this agreement.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Taufik Hussein
Hi
In today seller's market situation, it is more common for HDB sellers to request such a timeframe. This is allow seller' ample time in searching for their next place of stay. I am specialised in HDB transactions. Do contact me at 93375051 for a free and non obligatory discussion on this.

Regards
Taufik Hussein
CEA Reg No: R061607B
Contact No: 93375051
ERA Realty Network Pte Ltd Read More

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Robbie Chen Chee Howe
Hi,

HDB submission period is to be discussed and agreed upon before both parties commit to an OTP. It is perfectly normal for Sellers or Buyers to ask for a longer submission period, mainly due to their respective timelines.

HDB submission period is to be stated on Page 4 of the OTP, under "Application for HDB's Approval".

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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