lovenest 0 Report post Posted May 8, 2007 (edited) i intend not to engage agent cos on tight cash budget. but kinda confused as the steps i will have to do should i decide on a unit. at the moment i have gotten my HLE so after i decide on the flat and negotiate the price then sigh OTP isit?? then what??? i basically need a step by step for dummies instruction guide...PLD HELP MEEEEEEEEEEEEEEEEEEEEEEEEEEEE Edited May 8, 2007 by lovenest Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted May 8, 2007 Try http://www.diyhdb.com/This people are great in coming with the idea of helping you do the paperwork for a fraction of what you will pay to the agents. I would strongly encourage you to spend this few hundred dollars to ensure that you are properly covered in terms of liability and risks lor.Alternatively, if you really want to DIY without paying anyone for it, its not impossible. Check out HDB website, where I believe they have those one-day or half-day seminars to educate new flat buyers/sellers about the paperwork and processes. Share this post Link to post Share on other sites
lovenest 0 Report post Posted May 8, 2007 i did go to the resale seminar...it was helpful but im just talking abt paperpwork wise.for example...1. sign OTP 2. submit resale application (when? after 2 wks period? etc etc thats what i meantso somebody pls help Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted May 9, 2007 i did go to the resale seminar...it was helpful but im just talking abt paperpwork wise.for example...1. sign OTP 2. submit resale application (when? after 2 wks period? etc etc thats what i meantso somebody pls helpOh u mean the seminar did not talk about this?From my past experience, the resale application is submitted to HDB after the 14 days cooling off period, or whichever time that you and the other party had agreed. Thereafter, there will be a date for 1st appt and I hope you know what to prepare for 1st appt? Then during the 1st appt, all will fix a date for 2nd appt. Then tada, u r done.That's in general lah... Share this post Link to post Share on other sites
lovenest 0 Report post Posted May 9, 2007 Oh u mean the seminar did not talk about this?From my past experience, the resale application is submitted to HDB after the 14 days cooling off period, or whichever time that you and the other party had agreed. Thereafter, there will be a date for 1st appt and I hope you know what to prepare for 1st appt? Then during the 1st appt, all will fix a date for 2nd appt. Then tada, u r done.That's in general lah...thx...so u mean after exercising option to purchase i can wait max 14 days b4 submitting resale application rite? now this application is just the sellers copy or each if us submit one different copy??? sorry so blur. Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted May 9, 2007 thx...so u mean after exercising option to purchase i can wait max 14 days b4 submitting resale application rite? now this application is just the sellers copy or each if us submit one different copy??? sorry so blur.Yes, going by the book its 14 days. However, sometimes the seller want to stay in the flat longer mah, so he might request that you submit later. So you all will adjust the dates accordingly, eg you signed on 1st May'07 officially, however you guys want to submit the application by end of the month, so you will change the dates to 16th May or something lor. This is common practice although not encouaged...Usually the application is submitted by the seller. Does your seller have an agent? If not then he will have to do it himself. Share this post Link to post Share on other sites
raincole 0 Report post Posted May 9, 2007 Don't worry too much on the paperwork cos if your seller has a agent, he would "offer" his service to you at a price. Then he will do all the paperwork and such.More importantly, have you started to 'sell' your flat? Share this post Link to post Share on other sites
lovenest 0 Report post Posted May 9, 2007 Yes, going by the book its 14 days. However, sometimes the seller want to stay in the flat longer mah, so he might request that you submit later. So you all will adjust the dates accordingly, eg you signed on 1st May'07 officially, however you guys want to submit the application by end of the month, so you will change the dates to 16th May or something lor. This is common practice although not encouaged...Usually the application is submitted by the seller. Does your seller have an agent? If not then he will have to do it himself.yeah he got agent...i have the resale application letter with me and it has the seeler and buyer component in one application leh...means i fill up my part n give him ??? Share this post Link to post Share on other sites
raincole 0 Report post Posted May 9, 2007 How about getting his agent to do it for you? I'm not too sure about the paperwork cos most of us did it through agent. Share this post Link to post Share on other sites
HSH21 1 Report post Posted May 9, 2007 How about getting his agent to do it for you? I'm not too sure about the paperwork cos most of us did it through agent.Must be careful if the seller's agent do the job for U... better check with him... he can charge you 1% commission since U don't have an agent to represent U... Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted May 9, 2007 Must be careful if the seller's agent do the job for U... better check with him... he can charge you 1% commission since U don't have an agent to represent U...To lovenest: This is very impt. If you do not intend to pay the agent, make sure you don't sign anything. I have friends who lead the agent into thinking that they will pay the 1% comm, and the agent very 'goot-luk' and do everything for them.Until the 2nd appt they said they did not sign anything so don't pay. Well I am not encouraging you to do it lah, its up to you. But then again, the agent is not supposed to ask for 1% comm also, so some of my friends reasoned that this is nothing wrong.So if you are very 'ethical' and want to be on the safe side you better fill in the buyer's part in the application form yourself, unless the agent explicitly said he will do it for free. Share this post Link to post Share on other sites
HSH21 1 Report post Posted May 9, 2007 Actually it is the seller's agent responsibility to ensure the deal is close... I mean completed all the transation.. don't understand why they still want to charge the commission from the buyer... Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted May 9, 2007 (edited) Actually it is the seller's agent responsibility to ensure the deal is close... I mean completed all the transation.. don't understand why they still want to charge the commission from the buyer...The agent will tell you, if you are given the opportunity to get more money, will you say no? Esp when your income is based solely on such commission and there is practically very little (or even no) benefit for you to be 'ethical' and 'responsible'?This is Singapore lor; what to do? But in order to tackle all these jokers, my advice is to gather information by yourself. Never rely on anyone for information. If you are ill-informed, that even a bangala worker also can smoke you, then good luck to you and your pocket lor... Edited May 9, 2007 by zirhk3355 Share this post Link to post Share on other sites
lovenest 0 Report post Posted May 9, 2007 The agent will tell you, if you are given the opportunity to get more money, will you say no? Esp when your income is based solely on such commission and there is practically very little (or even no) benefit for you to be 'ethical' and 'responsible'?This is Singapore lor; what to do? But in order to tackle all these jokers, my advice is to gather information by yourself. Never rely on anyone for information. If you are ill-informed, that even a bangala worker also can smoke you, then good luck to you and your pocket lor...thx for the advice everyone. yeah i learnt NEVER to sign anything with the agent if dont want to pay. andi also wont lead her into thinking i want to pay. my stand is clear, i can very well fill in a few blank in the form myself....its not that difficult. Share this post Link to post Share on other sites
