Question On Resale Transaction For Diy Buyer

[nftwfhap 0]

Hi,

I have some question as I intend to DIY to buy resale flat, appreciate if anyone can advice:

1. May I know as a buyer, do u buy over the val report from seller? Or seller just give u a photocopy set for yr online submission and is FOC? I did call up HDB, but they stated as long as is it prepared for the transaction, seller & buyer to sort out who will be paying for it. I nearly bought a flat but didnt go thr due to COV, so sort of spoken to seller agent on this and she claimed that she will safe keep the photocopy set and bring during first apt in case I have forgotten. So I am curious to knw how does this val report works for DIY buyer? Buy over as original set or is free? Both buyer and seller need it right?

2. The seller agent told me if I am keen to buy the flat, we can exercise the OTP straight away without 14 days. So am I right to say that OTP expiring date and time can still be 14 days away but buyer exercise and sign immediately on that day. Is this the usual practise for buyer whom has already decided to buy the unit? Seller agent told me that max of $5K is required as most of them are paying the max in the market. Is this true? My friend ever told me to check the owner's IC to match the OTP form, else not, deposit is gone.

3. Is the validity of HLE Letter is needed during first apt? As in it is still valid when excercise the OTP, but expire before first apt.

[forgotten 1]

1. Buyer has to buy over valuation reporter from seller because buyer needs it for housing loan application. Only buyer needs it, seller does not need it.

2. Yes buyer can straight away exercise OTP. Expiry period is standard 14 days for OTP. Yes buyer has to pay 5K deposit.

3. HLE must be obtained before date of exercise Option To Purchase and it must still be valid on the date they exercise the OTP. It is fine for HLE to expire on 1st appointment.

[cookiez 0]

3. HLE must be obtained before date of exercise Option To Purchase and it must still be valid on the date they exercise the OTP. It is fine for HLE to expire on 1st appointment.

Hi forgotten,

I've received my 1st appt letter from HDB and it was stated that I must bring a valid HLE letter for my 1st appt. I was thinking to re-apply for

the HLE since mine will be expired soon. So does it mean its also ok if i dun re-appy for it ?? Just bring my expired HLE for 1st appt ??

[nftwfhap 0]

1. Buyer has to buy over valuation reporter from seller because buyer needs it for housing loan application. Only buyer needs it, seller does not need it.

2. Yes buyer can straight away exercise OTP. Expiry period is standard 14 days for OTP. Yes buyer has to pay 5K deposit.

3. HLE must be obtained before date of exercise Option To Purchase and it must still be valid on the date they exercise the OTP. It is fine for HLE to expire on 1st appointment.

Thks so much for the info.

BTW, I have another query out of this topic.

Is abt viewing flat under cobroke. Wonder if you hv any advice.

I realised that it is difficult to view flat for seller agent that has many cobroke partners. I browsed thr iproperty and property guru and found the same unit of many agents (cobroke). So then I went ahead to call up the first listing agent (hopefully it is the direct seller agent), but nvr pickup nor reply my call at all. Are they trying to force you to call up their partner so all can hv a win-win situation for seller and buyer? I read up someone posted here that for such situation, you can just go for viewing with the cobroke agent and if really keen to buy the unit, just approach the seller direct. Is this really a good idea? Seems like these agents are controlling the market, is rare to find one seller agent that don't mind dealing with DIY buyer.

I would like some advice how to deal with such situation if I really want to view the unit.

Thks.

[forgotten 1]

If you want to reach direct sellers or seller agents, you should call up the ads on Straits Times instead. Because almost all ads on property websites are posted by co-broke agents, who will charge buyer commission.

Look out for Straits Times Classfieds for Sat and Sun, there are more ads.

[nftwfhap 0]

Is the amt for Val report pay to seller during otp or Hdb apt? Just a normal buy over transaction without any written doc?

[therat 18]

U can pay to seller or seller agent. depend what is the arrangement.

I pay and receive the report at the same time during OTP.

Normal transaction. No invoice, no receipt.

So best.. COD

1 hand for goods,

1 hand for cash

[iwanpeace 0]

Hi,

I have some question as I intend to DIY to buy resale flat, appreciate if anyone can advice:

1. May I know as a buyer, do u buy over the val report from seller? Or seller just give u a photocopy set for yr online submission and is FOC? I did call up HDB, but they stated as long as is it prepared for the transaction, seller & buyer to sort out who will be paying for it. I nearly bought a flat but didnt go thr due to COV, so sort of spoken to seller agent on this and she claimed that she will safe keep the photocopy set and bring during first apt in case I have forgotten. So I am curious to knw how does this val report works for DIY buyer? Buy over as original set or is free? Both buyer and seller need it right?

2. The seller agent told me if I am keen to buy the flat, we can exercise the OTP straight away without 14 days. So am I right to say that OTP expiring date and time can still be 14 days away but buyer exercise and sign immediately on that day. Is this the usual practise for buyer whom has already decided to buy the unit? Seller agent told me that max of $5K is required as most of them are paying the max in the market. Is this true? My friend ever told me to check the owner's IC to match the OTP form, else not, deposit is gone.

3. Is the validity of HLE Letter is needed during first apt? As in it is still valid when excercise the OTP, but expire before first apt.

Good luck on your search.

Me and wife really lucky to view and signed otp on the spot of viewing our new house with the agent acting for the seller. Everything went smoothly till completion.

The agent acting for the seller was really good in fact he even helped us with the relevant documents and submissions and even told us we dun have to pay him comm.We only paid for the valuation report of $100 plus and a admin fee of around $80

As for HLE sorry i'm not very sure about it, better to call up HDB and check as ours is valid throughout till completion.

Hope that you will get your dream house smoothly

[crystalhuang 0]

1. Buyer has to buy over valuation reporter from seller because buyer needs it for housing loan application. Only buyer needs it, seller does not need it.

Hi, do you mind highlighting me, how much is the valuation report costs?

thanks (:

[May_dream1 14]

Hi, do you mind highlighting me, how much is the valuation report costs?

thanks (:

about $180

[crystalhuang 0]

about $180

thank you