hi577 1 Report post Posted May 13, 2020 Hi everyone...wish all in the pink of health and in good spirit despite CB and Covid19. I had sold my unit in Feb 2020 and my completion date was supposed to be last month (Apr). however the unit i bought the transaction fell into CB period. as such HDB defer all resale applications. Due to this me and my agent wrote/spoke/met the officer in charge of my selling to defer the completion after the buyer agree to it. As this was unprecedented situation it was granted till i receive news of the completion date of my new unit which i expect between July to Sep. I must say the process and experience of selling my unit was pleasant and friendly, i must say a big thank you to the buyer for their understanding of the whole issue of this pandemic and CB.Luckily they only buy so not much a challenge.Anyway we got it black and white (as requested by HDB) for the agreement by both parties to defer the completion of my current unit so can say it is safe for now. Now as we come to term of this covid19 pandemic, my questions is how do house owner is protected if they cancel the sale of hdb unit? people such as me during the time we buy and sell the effect of the covid19 pandemic then (Jan to Mar) was still unknown and many country thought they were spare. But as days turn to weeks and weeks turn months we saw a global effect of this pandemic.many lost job, pay cut, and even those with job the future is uncertain. while there was an act pass by parliament to protect commercial from being sue for damages due to covid19 pandemic, there isnt anything mention about personal or private contract or matter of fact property contract (HDB/private). There could be some who couldnt proceed with the transaction due to lost job or lost of income. So how do such people been protected by law? I believe cancelling of hdb transaction is a last resort. however we must be prepared for any eventuality. also it can put an ease to those potential who may resort to it.as we know there are large sum of money involve for the process (agent fee, reno, bank loan, insurance) of selling and buying property. I hope you guys can share your thoughts or how do you guys overcome this if you potentially one of them who cancel the sale. Share this post Link to post Share on other sites
Leah Lee 0 Report post Posted May 15, 2020 hi if you want to cancel the deal, your buyer or seller can sue you for any loss or damages according to the contract. Unless you both mutually agree to void the contract Share this post Link to post Share on other sites
Adam Ng 0 Report post Posted May 19, 2020 you have to engage private lawyer if you want to settle the dispute too if they charged against you Share this post Link to post Share on other sites
hi577 1 Report post Posted May 19, 2020 4 hours ago, Adam Ng said: you have to engage private lawyer if you want to settle the dispute too if they charged against you engage or not to engage is a separate matter...what i am trying to highlight is there protection for owner who cancel the transaction due to covid19. as i said it is a last resort esp to those who lost their jobs. again if the person lost the income i guess engaging a lawyer is out of the qns. Share this post Link to post Share on other sites
Anqi 0 Report post Posted May 22, 2020 What I heard if they were to sue each other for this. The seller's property cannot be market and buyer also cannot buy another property till the case is closed. Ha! In the end, the lawyer will be the big winner!!! ? Share this post Link to post Share on other sites
hi577 1 Report post Posted May 23, 2020 20 hours ago, Anqi said: What I heard if they were to sue each other for this. The seller's property cannot be market and buyer also cannot buy another property till the case is closed. Ha! In the end, the lawyer will be the big winner!!! ? In any type of case lawyer is always the 1 laughing to the bank....anyway as i said if either buyer or seller decide to backout during covid19 pandemic,he/she done it as a last resort due to financial issue. That already imply he/she has no money to continue with the deal. And the recent covid19 act increase the amount to declare bankrupt to $60k.Further an individual cant claim against other HDB property.So like u said the winner is the lawyer.so what i ak trying to find out whether there is protection or process before need to engage lawyer and knowing the outcome may not favourable.Dont get me wrong,in normal time by all means sue the buyer/seller for backout.What i ak referring is NOW during this pandemic. Share this post Link to post Share on other sites
Leah Lee 0 Report post Posted May 26, 2020 yes the lawyer is the only one laughing to the bank! Share this post Link to post Share on other sites
Tabitha Loo 1 Report post Posted May 27, 2020 best not involved lawyer just private settlement Share this post Link to post Share on other sites
Majed 1 Report post Posted May 27, 2020 sometimes is beyond both parties control. That's when the legal is involved !!!! Share this post Link to post Share on other sites
Leah Lee 0 Report post Posted May 28, 2020 ya best to settle outside court la Share this post Link to post Share on other sites
Adam Ng 0 Report post Posted May 29, 2020 check out ohmyhome app, they offer many services include legal, loan, renovation, movers, aircon servicing, handyman etc, all at one stop service! Share this post Link to post Share on other sites
Majed 1 Report post Posted May 29, 2020 Nice One stop services from "Ohmyhome"!!! Share this post Link to post Share on other sites
Elias Evph 3 Report post Posted May 29, 2020 Just go app store Ohmyhome or www.ohmyhome.com and try it. Share this post Link to post Share on other sites
Tabitha Loo 1 Report post Posted June 5, 2020 Ohmyhome got thousands of 5 stars reviews on their Facebook page too! Share this post Link to post Share on other sites
Anqi 0 Report post Posted June 8, 2020 Anyone home contents insurance to recom'd? Share this post Link to post Share on other sites
