Newest Procedure For Buying Resale Flat

[Kobelala 8]

Dear Members,

Thanks for all your replies and advise, I was busy over the weekend and did not log in, you guys are just great, you had shared with me so much valuable knowledge. Thanks !!

Mark ; I did not see the unit released in any listings on the internet (i did not read classified), and I made the offer immediately the night of viewing.

Snowpear ; yes, I'm on a valid HLE and this had been submitted to the agent representing me.

Till now, I did not see any updates on my "My HDB homepage".... Will be speaking to my agent again to ask for a copy of seller's signed OTP.... I believe I've rush myself into signing without think of the consequences.. .. Guess I'll have to wait and see what happens...

Dear friends, thanks alot !!

[davidbslee 1]

Dear Senior Members and Mod, really thanks for your kind assistance and reply. I had spoken to my agent and I understand what was being done :

a) I issued a cheq of 1k n 4k and signed only my part of Checklist, OTP and also paid for the valuation report... As mentioned earlier that seller is using POA to transact and the POA was not present.

b) Seller had submitted the Seller Checklist yesterday Morning.

c) They had not banked in my cheq as they are only collecting the cheqs first and have me sign first since I'm firm and so that they don't need to meet me again.

d) My Agent further inform that my docs will be submitted in 7 days and will update me again once there is a 1st appt date.

I do not want to pin them down on the wrong procedures as yet and I can only assume that both agents are trying to secure my cheqs and signature first and thereafter proceed with the proper procedures. I am ok with the arrangement thus far so long there is nothing in between the lines and they pull thru the deal.. ... and I understand what they are doing now slightly better; but the forms in my posession now are ;

a) My signed copy of CEA Prescribed Est Agency Agreement Form (2)

b) The agent's company comm agreement form.

c) 2 simple receipts of Valuation report n resale submission fee.

Can i check with Senior Bros n Sis-s :

a)What other forms should I request from my agent ??

b) What are the repercussion I may have in this case ? (can the agents play me out if they have a better offer or if the owner refuse to sell... ??)

c) I intend to continue looking for other flats in case this case dosen't pull through, I will stand to lose ony 1k or all 5k if I cancel this transaction ?? (like I said I'm in need of a flat badly for my marriage)

Really thankful for all your replies and advise.. .. (i am not revealing the name n sex of my agent as i am still giving the agen my benefit of doubt) .

Pay yr agent comms only after or during the 2nd resale appt at HDB Hub. Make sure the owner shift out or clear everythings during the Final inspection on the flat. Best is make the final inspection date just before yr 2nd resale appt date.

[Kobelala 8]

Pay yr agent comms only after or during the 2nd resale appt at HDB Hub. Make sure the owner shift out or clear everythings during the Final inspection on the flat. Best is make the final inspection date just before yr 2nd resale appt date.

Can I do that ? ok, thanks !!

[therat 18]

Can I do that ? ok, thanks !!

you refer to which part?

Pay yr agent comms only after or during the 2nd resale appt at HDB Hub.

yes, you can

Note 2 things

1. Issue the CHQ to the company name not the agent name

2. make sure the agent give u receipt.

For tracking purpose, behind the CHQ, wrote down, this is the commission for HDB unit Blk XXX, XX-XXX , XXX Road

Make sure the owner shift out or clear everythings during the Final inspection on the flat. Best is make the final inspection date just before yr 2nd resale appt date.

yes, you can.

HDB say so.

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...pt?OpenDocument

Purpose of Completion Appointment

The Completion Appointment is for HDB to witness the following:

o The signing of the transfer document by the seller

o The signing of the mortgage document/agreement by the buyer (if buyers are taking an HDB loan)

o The handing over of the keys from the seller to the buyer after:

# The buyer confirms that the flat has been vacated and the conditions are acceptable (buyers are to arranged for a final inspection of the flat with the sellers before the date of completion)

# The seller have paid the service and conservancy charges and property tax up to date (as advised by HDB) and are able to produce the official receipts

[Kobelala 8]

you refer to which part?

yes, you can

Note 2 things

1. Issue the CHQ to the company name not the agent name

2. make sure the agent give u receipt.

For tracking purpose, behind the CHQ, wrote down, this is the commission for HDB unit Blk XXX, XX-XXX , XXX Road

# The seller have paid the service and conservancy charges and property tax up to date (as advised by HDB) and are able to produce the official receipts

Dear Therat,

Thanks alot.

This morning I've spoken to the agen firmly, I demand a signed copy of seller's OTP and for them to exercise the case immediately otherwise, I'll withdraw the case (dunno whether if i can do it but sometimes cannot be too nice....). The agent request 2 days to collate all docs and so on.. ... ... and will scan all relavant docs n email them to me (I'm too tired to ask why but I agree on the deadline) ... ... Hope all goes well, will update on the progress once again on deadline day...

Would like to thank all members on your valuable advise and sharing your knowledge with me once again !

Edited February 16, 2011 by Kobelala

[lapetite 0]

Dear Therat,

Thanks alot.

This morning I've spoken to the agen firmly, I demand a signed copy of seller's OTP and for them to exercise the case immediately otherwise, I'll withdraw the case (dunno whether if i can do it but sometimes cannot be too nice....). The agent request 2 days to collate all docs and so on.. ... ... and will scan all relavant docs n email them to me (I'm too tired to ask why but I agree on the deadline) ... ... Hope all goes well, will update on the progress once again on deadline day...

Would like to thank all members on your valuable advise and sharing your knowledge with me once again !

Dear Kobelala,

Read your situation and hope that everything goes well for you.

I'm a buyer and not represent by any agent, the procedure for buyer is very simple. Just to share with you, I OTP and exercise the option on the same day too. The only difference between me and you is my seller is present. For my case, the seller agent submit his copy of OTP online to HDB, I submit my relevant documents online as well and select the first appointment date. It can be done within one day if both buyer and seller submit their document fast enough. Not sure about the documents required by the seller end, for buyer end, it's just the buyer checklist, HLE

As mentioned by all the bro & sis, your OTP form without the seller signature is going to be a huge disadvantage to you. However I doubt they will bank in your cheque if they are not selling the flat to you since there's trace

[Kobelala 8]

Dear Kobelala,

Read your situation and hope that everything goes well for you.

I'm a buyer and not represent by any agent, the procedure for buyer is very simple. Just to share with you, I OTP and exercise the option on the same day too. The only difference between me and you is my seller is present. For my case, the seller agent submit his copy of OTP online to HDB, I submit my relevant documents online as well and select the first appointment date. It can be done within one day if both buyer and seller submit their document fast enough. Not sure about the documents required by the seller end, for buyer end, it's just the buyer checklist, HLE

As mentioned by all the bro & sis, your OTP form without the seller signature is going to be a huge disadvantage to you. However I doubt they will bank in your cheque if they are not selling the flat to you since there's trace

Hi Lapetite, thanks for the well wishes. Yes, I think I've rushed into things and now am just led by both the agents in the process.. ...

Nonetheless, today, I've checked my "MyHDBpage" and finally all are submitted after much pushing and delaying with the agents...

I'm expecting a 1st appt date anytime... Hope the buyer will turn up in 1st Appt and all goes well for me then.... ...

[Kobelala 8]

Also, to all Bros and Sis that offered valuable advices and knowledge along the way, sincerely thank you !! Will update once my 1st Appt is smooth... ... keeping my fingers crossed, really hope all goes well....

(till today, I really do not know why the delay delay ; as stated in previous post , but am just happy that my (MyHDB page) page reflected all had been submitted and 1st Appt time is being processed, although I wasted a valuable 2 weeks in the transaction, am just happy now that I finally get my 1st Appt date anytime today )... ..

[Plastic3 0]

Also, to all Bros and Sis that offered valuable advices and knowledge along the way, sincerely thank you !! Will update once my 1st Appt is smooth... ... keeping my fingers crossed, really hope all goes well....

(till today, I really do not know why the delay delay ; as stated in previous post , but am just happy that my (MyHDB page) page reflected all had been submitted and 1st Appt time is being processed, although I wasted a valuable 2 weeks in the transaction, am just happy now that I finally get my 1st Appt date anytime today )... ..

Good to hear that

Best,

Mark