Delay HDB Resale Submission

Case Study:

I have secured a buyer for my HDB resale unit in August 2016.

The Seller has requested to stay in the house until April 2017 and the Buyer agreed.

Usually, Agents will work backwards from April 2017 for maximum 3 months extension of stay.

But then the question arise whereby the Option To Purchase (OTP) exercise period cannot exceed 21 days.

So even if you work backwards, the OTP issued date will still not be earlier than January 2017.

How should I do the paperwork process in this case in order to seal the case perfectly?

Happy Asian Chinese Family Playing with Digital Tablet Together

Solution:

Let say: OTP issue 18th Aug 2016.

Then, exercise OTP 21 days by 8th Sep 2016.

Put the days to submit the resale application to be 90 days till 1st week Dec 2016.

Please note the following documents are still valid upon HDB resale submission:

  • Seller Checklist
  • Buyer Checklist
  • Valuation Report
  • HLE or Bank’s Letter of Offer.

Then in November 2016 you have to monitor and see when the earliest HDB 1st Appointment, plan your submission and book HDB 1st Appointment end Jan to early Feb 2017, 8 weeks later completion will be April 2017.

If all in place in this way, there is no HDB extension of stay required or most is just for 2 to 4 weeks.

Hope the above sharing is helpful. Cheers!

charlane
charlane
6 February 2023
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Elwin840808 Elwin
Elwin840808 Elwin
16 January 2023
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Marchelina Vincensia
Marchelina Vincensia
17 August 2022
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Sei Chia Lau
Sei Chia Lau
4 August 2022
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Stanley Tan
Stanley Tan
26 June 2022
Stephen is experienced, analytical and views properties comprehensively. This is evident right from the beginning when we chanced upon his informative YouTube videos. He provided us invaluable advice throughout the process of our property purchase. His calm, humble and polite nature made him an approachable professional to discuss the many questions we had. He was patient with his technical explanations as well as his insightful suggestions. He placed our interests first, in the buyers' shoes, gave us space to consider and has never rushed us to make decisions without proper considerations. His attentiveness goes a long way. Stephen carefully planned out the timeline for us and gave us reminders to complete the various items ahead of the deadlines to avoid unwanted hiccups. It was entirely a worry-free process. Stephen even gone the extra mile to meet us at the law firm to show us the way and be in person with us to sign the S&P. He made our property purchase a great buy and an enjoyable experience. Thank you, Stephen.
Leo Lim
Leo Lim
21 March 2022
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Lim Ming Hwee
Lim Ming Hwee
26 February 2022
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Joseph Sze
Joseph Sze
24 December 2021
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SZ Lim
SZ Lim
20 July 2021
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