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Hi, I just need some insights. Me and my husband are buying a resale flat near the MRT. We deal the price and everything before the flat enter into MOP period. So we agree to write a contract and put a $1k deposit to be used for the option fee and the seller promise us to do OTP right after the MOP date. However, now after we waited for almost 3 months, the seller come to us and said that they need some time to issue OTP as they can't apply HLE before MOP (they need HLE to buy their next flat) and they said they might need more than 3 months extension due to they don't want to disrupt their children school (?), so we have to wait until school holiday period. For the first and second changes, we're still ok. And now the seller agent came back to us and said the seller wanted to increase the pricing? Then what's the point for us to write a contract before?? I really feel it's so so unfair from the buyer side :( we've been agreeing their changes but I think the price increase is a little bit too much.. Like exactly the contract become pointless. And they keep "threatening" us to say, "If you cannot agree, we will return your $1,000 deposit."
The point is the $1,000 is not even the problem.. We've been trusting the seller based on the agreement and now they came back to us changing all this things :(
We also cannot easily let go as the location is really good eventho the size is not that big...
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3 Answers

Hi, may I suggest that you move on and also to appoint an agent to assist you for the next purchase so as to prevent such issues from happening.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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The contract signed before the MOP is met is invalid, as you are aware that sellers are unable to sell before MOP, therefore if you wish to seek recourse on this subject matter, it is better if you speak to a lawyer to see how you can enforce the contract signed or seek damages.

Otherwise, I will also suggest for you to move on like Aaron had earlier. What is the point of proceeding with this purchase if it is already so unhappy? I always say that when you are purchasing a family home, it is a happy occasion. If it goes into this unpleasantness, I reckon that it is also not a good sign.

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Robbie Chen Chee Howe
Hi Mdm,

I do not blame the Sellers for asking for a higher price now, as you can also read that HDB resale prices has been steadily climbing up over the past few months.

Ask yourself this question, imagine you're the Seller, if you are confident to get a higher price than before, would you still sell your flat at a lower price? Keep in mind that after the Seller sells his flat, the flat that he's going to purchase will also be going to be at a higher price due to the market sentiment now.

Sorry to rub salt into your wound, but none of these would have happened if you had engaged an agent to act for your purchase in the first place.

A proficient agent would be able to spot this element of "risk" and advise you against entering into such contract right from the start.

My advise for you now, is to engage an agent to act for you in your purchase. Don't be penny wise pound foolish.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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