Hi,
I recently signed the OTP to sell my HDB flat without engaging any agents. After signing the document and receiving the option fee $1000, I asked the agent of the buyer to do the paper / leg work for me by promising to pay him $500 after the completion. Since I found this agent seems quite new in this line, I am not so sure if he can do everything properly for me. I am happy to find people like you sharing your DIY experience in this forum, thus would like to ask a few questions.
(1) I still have outstanding home loan with a bank, how the outstanding mortgage be discharged? It is required to fully redeem the loan from the bank before the resale completion date? Or I just leave it to HDB to handle? According to the bank, if making full redemption, a three- month notice must be given to the bank and engaging a lawyer is required. If I wish to let HDB to handle it, what I need to do?
(2) If the buyer simple fills up the Acceptance on the OPT without notice me and he also does not pay me the deposit (Excise fee), can the buyer submit the application form and whether this OPT is a valid contract?
Look forward to your reply. Thank you in advance!
