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Please could someone help to indicate when the following are paid (Resale HDB) for financial planning? Who are the payments directed to?

OTP fee - is this cash direct to seller?
OTP deposit - is this cash direct to seller?
Deposit - is this during 1st or 2nd HDB appointment?
COV - is this during 1st or 2nd HDB appointment?
Final balance - is this during 2nd HDB appoinment

Thanks
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4 Answers

Evening,

Option and Option Exercise fee are payable by cash to the seller. As for the balance of down payment, it will be dependent on your mortgage type. Are you taking HDB loan or bank loan? Is any housing grant involved? As you seems uncertain of the HDB sales and purchase requirement, it would be ideal to engage an agent to assist you accordingly.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hi Good Day.
I would love to assist you throught the entire transaction. kindly reach me via 91442664  for a detailed chat off here.
Looking forward to hear from you.
Tricia Tan
 91442664  Read More
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Hi Stogpon, I would suggest that you appoint an agent to assist you further. Because besides all that questions from you, your servicing agent would be able to point out those good deals which you would easily missed out if you are on your own.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Hi Mr Fog,

1. Option fee is paid directly to the seller to secure the option for 21 days while you do the valuation of the flat and secure your loan options.

2. Option Exercise Fees - Paid directly to the seller upon the exercise of the option ie. to confirm the flat purchase within the 21 days of option period.

3. Option Fee + Option Exercise Fee = Deposit. All paid in cash when you are purchasing the flat.

4. The balance payment will be payable depends on whether you are securing a bank loan or HDB loan for the purchase.

Please feel free to contact me at 9644 4854  so that I can run you through the whole resale process. Thank you.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg
(W) www.nick-tan.com / www.propertyavenue.com.sg

Testimonial from Satisfied Clients (2015)

“Nick from Property Avenue 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.

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Mr & Mrs Tan (Seller of Inter-Terrace House)

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Susana (Buyer of HDB)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

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