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We looking for a third opinion. Lets say we got our OTP signed by both parties. However those papers will not be submitted to HDB due to reason being, we'll have to wait for buyers' OTP to be process first. Is this a common practice? Thank you
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2 Answers

Hi,

This is not uncommon often happened to one of the party buy/sell at the same time.

There is a clause (12) in the OTP that could delay up to 120 days before submission.

Usually we will advise our client accordingly whether they are comfortable with any delay, before filling in the number of days. That can be as short as 7 days or as long as 120 days.

Both buyer and seller has to agree on this date, whether seller is willing to wait for up to 4 months before submission and wait for another 4 months to complete.

Hope the above answer to your main concerns, but if there are more queries, 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

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Hi, this is not a common practice. Normally when the OTP is signed by both parties, both the seller and buyer agents will quickly submit the document to the HDB within 30 days.

Regards
Aaron
 9730 8455  Read More
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