Hi
This means under the OTP agreement, both parties have to agree to give each other a time period of 60 days to submit the resale application. The 60 days is counted from the day you buyer exercised the option (pay seller the full deposit). Normally HDB would schedule HDB completion within 8 weeks after submission of resale transaction. This request from sellers is more common these days due to lack of supply in resale flat after the circuit breaker period. This is to provide sellers looking to purchase another resale flat more time to find a flat that meets their needs and budget without the need to put up with an interim place of stay. However the 60 days submission period can be reduced even after the OTP is signed if both parties agree. (this will usually happen if seller managed to find a house before the 60 days timeline). Do contact me at
93375051
for a free and non obligatory discussions on this.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd
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