Hi all,
I am in the midst of negotiating with the seller for a resale HDB flat. A deal is very close
A condition from the seller is that they wish to be afforded with a time period of 60-80 days to submit the resale application after the OTP has exercised by me. In principal, I am agreeable to this however I have a few questions I hope bros and sis here can clarify.
1. Is the 60-80 days period legal under HDB rules and regulation. From the posts in this threads, it seems like a norm? Can I get some confirmation on this? And what is the max amount of days that can be stretch for the resale application?
2. How would this affect my letter of offer (bank loan; DBS)? Is there a dateline that I must adhere to or other the LO would be invalid? Would there be a change in the terms (interest rate offering) for the LO is stretch that long?
Thanks in advance
Regards
I am in the midst of negotiating with the seller for a resale HDB flat. A deal is very close
A condition from the seller is that they wish to be afforded with a time period of 60-80 days to submit the resale application after the OTP has exercised by me. In principal, I am agreeable to this however I have a few questions I hope bros and sis here can clarify.
1. Is the 60-80 days period legal under HDB rules and regulation. From the posts in this threads, it seems like a norm? Can I get some confirmation on this? And what is the max amount of days that can be stretch for the resale application?
2. How would this affect my letter of offer (bank loan; DBS)? Is there a dateline that I must adhere to or other the LO would be invalid? Would there be a change in the terms (interest rate offering) for the LO is stretch that long?
Thanks in advance
Regards