Hi Ellen,
1) I understand everyone has their opinion on whether to spend on a service. I fully understand and respect your decision.
2) I just wanted to highlight that you might not be aware of some of the items that you might have overlooked before making a decision.
3) Back to your question. It is highly recommended to read all the wording carefully on the full OTP.
4) Usually the seller's agent will only provide you the copy (pg 1~10) that needs to be submitted to the HDB.
5) There is an important note on the option to purchase consists of 5 pages. You may download from the HDB to read before approaching the seller.
6) Since you are doing it yourself. You should take the following steps to protect yourself:
(a) Check whether there is a HIP done and whether the payment is done. You might be liable for the upgrading cost.
(b) Ensure after exercising the OTP, deliver the OTP back to the seller.
(c) You have to confirm the seller is the actual owner by checking their ID against the record on the HDB website.
(d) Check whether this is a negative sale. If this is a negative sale, do exercise due diligence on the amount of deposit you are paying.
(e) Have a detailed discussion on the discarding of bulky items or leaving them for your own use. List down those items promised by the seller on pg 9 of the OTP to protect yourself.
(f) Discuss the final inspection date so that you can confirm they had removed the items as per promised.
(g) You are also supposed to discuss the exercise fees on the spot. Write it down on the OTP.
(h) Discuss the submission timeline, and ask whether there is any pain point that the seller is having especially for those who need extension.
(i) You have to know where the sellers are putting up after the completion to ensure there is no hiccup when handover. You don't want the seller to refuse to open up the door for you after the completion.
7) There is nothing to be signed for you when paying the option fee, you are exchanging it with the OTP. Ensure the amount is properly written on the OTP.
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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