zonkkie 0 Report post Posted December 31, 2008 (edited) We bought a resale unit and will like to move in as soon as possible. The unit is actually vacated as the Seller has been posted overseas. They will like us to take possession as soon as possible. The only issue is HDB appointments will take around 3 months. The selling agent advised that we can actually start renovation after 1st appt (HDB technical officer inspection) but will need to sign an indemnity form that we will be responsible for everything in the unit after 1st Appt. So once renovation finish, we can move in immediately after 2nd Appt. Our agent advised us against this option as he said IN CASE the seller decides not to sell before the 2nd Appt, the sale will not be completed. All the renovations will go to waste and we will need to pay the ID/Contractor anyway. We can sue the seller but it will be long and hard. Anyone has any advice? I guess it is really safer to wait for 2nd Appt but we will really love to move in asap. Thanks in advance! Edited December 31, 2008 by zonkkie Share this post Link to post Share on other sites
Diavonex 0 Report post Posted December 31, 2008 We bought a resale unit and will like to move in as soon as possible. The unit is actually vacated as the Seller has been posted overseas. They will like us to take possession as soon as possible. The only issue is HDB appointments will take around 3 months. The selling agent advised that we can actually start renovation after 1st appt (HDB technical officer inspection) but will need to sign an indemnity form that we will be responsible for everything in the unit after 1st Appt. So once renovation finish, we can move in immediately after 2nd Appt. Our agent advised us against this option as he said IN CASE the seller decides not to sell before the 2nd Appt, the sale will not be completed. All the renovations will go to waste and we will need to pay the ID/Contractor anyway. We can sue the seller but it will be long and hard. Anyone has any advice? I guess it is really safer to wait for 2nd Appt but we will really love to move in asap. Thanks in advance! Do all the preparation work first i.e. get your ID and design ready but do not start work until after the 2nd appointment. The flat is not yours until after the 2nd appointment. Share this post Link to post Share on other sites
Smallboy 0 Report post Posted January 2, 2009 Another related question. Is it advisable to sign on an ID/Contractor before the first appointment since there is also a risk that your seller might decide not to sell. Share this post Link to post Share on other sites
Stagger 0 Report post Posted January 2, 2009 Another related question. Is it advisable to sign on an ID/Contractor before the first appointment since there is also a risk that your seller might decide not to sell. It depends, you may speak to your ID about the scenario. If the transaction didn't really go thru, you still need to perform reno on another purchase right? My opinion is that it is really risky if you adopt the above: 1. Who knows if the ID decided to close their business (by the time you get another new house + all those waiting time) 2. If the new house that you purchased have already well renovated? (probably u lose some deposit) 3. The ID may mark up the quotation given reasons that the floor area is now different, different designs for diff flat etc. (Don't forget you already signed with him and he knows that you are already one leg inside) Just my 2 cts worth.... Share this post Link to post Share on other sites
mwerkz 0 Report post Posted January 19, 2009 It depends, you may speak to your ID about the scenario. If the transaction didn't really go thru, you still need to perform reno on another purchase right? My opinion is that it is really risky if you adopt the above: 1. Who knows if the ID decided to close their business (by the time you get another new house + all those waiting time) 2. If the new house that you purchased have already well renovated? (probably u lose some deposit) 3. The ID may mark up the quotation given reasons that the floor area is now different, different designs for diff flat etc. (Don't forget you already signed with him and he knows that you are already one leg inside) Just my 2 cts worth.... my ID added a clause in de contract stating that for any reason i fail to get the house, i get de full refund that i have paid to him =) Share this post Link to post Share on other sites
chronograph 0 Report post Posted January 20, 2009 Listen to your agent, your agent has your interest at heart. Share this post Link to post Share on other sites
ClockworkO 0 Report post Posted January 20, 2009 (edited) I'm also awaiting my 2nd appt , which is probably in early March 09. Wish I cld move in asap too , but decided to wait till 2nd appt. But even before 1st appt , I've been actively looking for ID's and have yet to decide on 1. Do like what Diavonex suggest. Get an ID 1st and plan you home reno 1st , you might change your mind on the design or colors and may regret it and it's too late to change your mind. My seller has agreed to allow my ID in after 1st appt , to view the flat , so they have a better idea of what the unit looks like althought I have taken loads of pictures. Perhaps you can ask the seller's permission to bring your ID and view ? They can take measurments , view the light source during the day , check the walls and tiles , pipings , wirings ect... At least you'll know what is needed and plan your budget Edited January 20, 2009 by ClockworkO Share this post Link to post Share on other sites
zonkkie 0 Report post Posted January 27, 2009 thanks everyone... read the forums and seems like a lot of people are taking the risk. For me, i think i will try to get the keys after 1st appt... thinking of camping there one day to see the wind, sunlight, etc so we have a better idea how things will turn out with the renovation. i.e. whether need to have more light, blackout curtains, etc. By the time finish planning probably 4 weeks liao... then just do the hacking before 2nd appt... Share this post Link to post Share on other sites
zonkkie 0 Report post Posted January 28, 2009 Hi All, Any idea where can I get the indemnity form? Housing agent say contractor should have and contractor say agent should have. Checked HDB website and there is an indemnity form but it is more for HDB. Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted January 28, 2009 You are still going for it despite all the advice here?? Hmmz well we can only hope that you are doing it with your eyes open big big and good luck! Not sure if there is such 'indemnity form', more likely to be an indemnity letter from you to the owner. The purpose of it is for the owner to be indemnified because you are using their name to apply for reno permit. If you do any illegal works that will attract a fine by HDB, the owners will get fined instead, so they want you to give black and white that you will be responsible. Technically you are not supposed to take possession of the flat after the 1st appt (because the flat is not yours yet) so dun think HDB will come up with a 'form' for you. I believe the agent should have a sample letter for you to write to the owner. Share this post Link to post Share on other sites
zonkkie 0 Report post Posted January 28, 2009 (edited) Hihi, yes yes, going in with eyes open... don't think we pig headed despite the advice la.... really considered the risk and benefits. thinking risk will be limited since if owner don't sell, he probably will have get a lower price now. Also, we are just doing the hacking before 2nd Appt, so if he doesnt sell... then he can stay in a hacked up house. Edited January 28, 2009 by zonkkie Share this post Link to post Share on other sites
