322 0 Report post Posted March 11, 2008 Hi, does any one know, after i have signed to exercise the Option to purchase(OTP). Does the agent need to wait for 14days before submitting it to HDB, or can submit immediately. I have sign on the OTP and exercise the OTP on same day. Share this post Link to post Share on other sites
applefreak 1 Report post Posted March 11, 2008 can submit the same day, i did the same for my parents' flat Share this post Link to post Share on other sites
babytan 0 Report post Posted March 11, 2008 i think reason for the 14 days is also for you get bank loan etc and just in case you found another better flat and you want to back out of this sale. once you exercise then cannot back out bah.. Share this post Link to post Share on other sites
applefreak 1 Report post Posted March 11, 2008 322 exercised the OTP liao wor Share this post Link to post Share on other sites
babytan 0 Report post Posted March 11, 2008 322 exercised the OTP liao worhmm then if exercise liao can submit le bah then cannot back out liao..i mean 14days is like allowance time to settle bank stuff lor.. Share this post Link to post Share on other sites
Blmn 0 Report post Posted March 11, 2008 Hi, if i'm not wrong, after buyer paid for the deposit, they can either exercise the OTP on the spot and submit to HDB, or hv a grace period of 14 days to exercise the OTP. If OTP is not exercise within 14 days.. dep will be forfeit. Share this post Link to post Share on other sites
322 0 Report post Posted March 11, 2008 Thanks for all your replies Actually what i want to know is whether the OTP can be submitted within the 14days. Means that I signed the OTP on 10March and exercise on the same day. Can the agent submit the OTP to HDB on 10March also. Share this post Link to post Share on other sites
Blmn 0 Report post Posted March 11, 2008 Can... provided got HLE Share this post Link to post Share on other sites
applefreak 1 Report post Posted March 11, 2008 Thanks for all your replies Actually what i want to know is whether the OTP can be submitted within the 14days. Means that I signed the OTP on 10March and exercise on the same day. Can the agent submit the OTP to HDB on 10March also.yes, as stated in my first postwe signed, exercised and submitted the OTP on the same day Share this post Link to post Share on other sites
322 0 Report post Posted March 11, 2008 yes, as stated in my first postwe signed, exercised and submitted the OTP on the same day Thanks applefreak! Share this post Link to post Share on other sites
Brainstorm 0 Report post Posted March 11, 2008 Thanks for all your replies Actually what i want to know is whether the OTP can be submitted within the 14days. Means that I signed the OTP on 10March and exercise on the same day. Can the agent submit the OTP to HDB on 10March also.Can, the OTP allows you to have UP TO 14 days to exercise it. So can exercise it any time within the 14 days, no problem. To submit to HDB is another issue, if you turn to page 3 or 4 of OTP, there is a blank for you to fill in by when you want to submit to HDB. Some people put 30 or 60days cos not all buyer has sold their house first and they need to contra. So most buyer will hunt for flat first, once they bought it, put down 60 days, then they have 2 months to sell their house. Once they sell within the 2 months, they will submit the two OTP togehter, then can do contra... Share this post Link to post Share on other sites
