hi,

i need to ask a few questions which i am unsure of. i am a first time buyer.

1) i have a friend whose mop ends on 30/08/2011, and will be getting a pte property. thus, i am interested in his house and most probably will purchase his place. when will be the earliest time he should get a valuation? thereafter, we signing the otp.

2) since we both know each other, and the trust is there. do you think we should just get an 'agent' friend to do the paperwork for us? this is to avoid paying the 2% & 1%. however, can we get the same 'agent' friend to do the paperwork for us?

3) any further advice from the experts on this transaction based on past experiences?

thanks!

hi,

i need to ask a few questions which i am unsure of. i am a first time buyer.

1) i have a friend whose mop ends on 30/08/2011, and will be getting a pte property. thus, i am interested in his house and most probably will purchase his place. when will be the earliest time he should get a valuation? thereafter, we signing the otp.

2) since we both know each other, and the trust is there. do you think we should just get an 'agent' friend to do the paperwork for us? this is to avoid paying the 2% & 1%. however, can we get the same 'agent' friend to do the paperwork for us?

3) any further advice from the experts on this transaction based on past experiences?

thanks!

1. Best 2 wks before mop. Ask for valuer, wait for a few days to come. Report takes a wk to be generated.

2. Can do everything on your(U & yr friend)own, just ask HDB for a lawyer.

1. Best 2 wks before mop. Ask for valuer, wait for a few days to come. Report takes a wk to be generated.

2. Can do everything on your(U & yr friend)own, just ask HDB for a lawyer.

thanks for reply.

same 'agent' friend?

same lawyer?

or need 2 diff 'agent' friend, and 2 diff lawyer?

thanks for reply.

same 'agent' friend?

same lawyer?

or need 2 diff 'agent' friend, and 2 diff lawyer?

Beside seller & buyer, you need a "3rd party" as witness to sign on the otp.

Same lawyer to process everything.

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

Edited June 5, 201115 yr by godloveyou

when my agent friend helps to do the paperwork only.

does that mean we selling as diy, or engaging a salesperson?

if diy, i believed we can use him only for the paperworks.

if engaging a salesperson, i believed we need to get another agent friend.

am i right?

for 3 party, we need to call HDB right?

any 3rd party.

U and ur friend common friend also can.

Don't need inform HDB.

Your is the easy one. Since buyer and seller know each other.

Just DIY

when my agent friend helps to do the paperwork only.

Better ask for more information. How much $$ he expected.

Read Step By Step Guide

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

Actually now, everything can do online.

No much paperwork.

For better understand how to DIY - attend Resale Seminar

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

Nice questions and useful answers,..

Thanks for the sharing really helpful thread,..

hi,

i need to ask a few questions which i am unsure of. i am a first time buyer.

1) i have a friend whose mop ends on 30/08/2011, and will be getting a pte property. thus, i am interested in his house and most probably will purchase his place. when will be the earliest time he should get a valuation? thereafter, we signing the otp.

2) since we both know each other, and the trust is there. do you think we should just get an 'agent' friend to do the paperwork for us? this is to avoid paying the 2% & 1%. however, can we get the same 'agent' friend to do the paperwork for us?

3) any further advice from the experts on this transaction based on past experiences?

thanks!

Valuation takes 1-2weeks to be out,

7-days before granting OTP your friend needs to do the Seller's Checklist,

you need to do Buyer's Checklist latest before exercise OTP.

Best,

Mark