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Does the exercise period start when the buyer signs the otp? So if we put 45 days to submit to hdb for approval, does it start from the dated day when buyer sign? Or need to wait for seller to counter-sign/acknowledge anything?
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5 Answers

Hi,

Yes exercise period starts from the date that the buyer sign the acceptance portion on the OTP and resale submission timeline of 45 days starts upon that.

Resale submission can be done anytime between the 45 days but its best that both sellers and buyers agree on which day to the the submission.

Thank you

Gary Shien
PropNex
Associate Group Director Read More
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Resale submission date is based on date of exercise of OTP.

Once first party submits, the 2nd party will need to submit within 7 days so please coordinate properly.

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1. The **exercise period** begins from the date the **buyer signs the acceptance portion** of the **Option to Purchase (OTP)**.
2. The **resale submission timeline** of **45 days** starts immediately after the exercise period begins.

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Hi, it is based on exercise date of OTP.

Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

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Landon Chew
97 39 60 40
landonchew@email.com Read More
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Hi,

1) The exercise period starts immediately when the buyers sign the OTP.
2) You have up to 21 days to exercise the OTP if you are accepting the deal.
3) The 45 days to submit to HDB for approval is another matter altogether.
4) This is the period that needs both parties to agree upon to settle their private matters before submitting to HDB for approval. This has nothing to do with the exercise period.
5) This period will start on the date of the OTP exercise.
6) You have to return this OTP to the sellers after exercisiong.
7) You may request for an acknowledgement from the sellers indicated they have collected the exercise fees and acknowledge the action of exercising. This is also encourage by the HDB to avoid any dispute over this matter. But this is not enforced.

All the best!

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