AskGuru Q&A Community

Hi Madwarrior,

The $1K+$4K are Deposit (i.e. Option Fee + Option Exercise Fee) and is needed when a hdb buyer books and exercise to purchase a unit above the valuation. This may not be the case if the buyer buys at or below valuation. The same goes to the buyer buying your flat.

One thing to note about doing Contra.
May I ask if you are using HDB Loan to service your existing flat, and are intending to use HDB Loan for the next purchase as well? Kindly note that either case if you are using Bank Loan, you cannot do contra.

You may be selling your flat for the first time, and we would like to do up a financial plan for your selling and buying to make sure you understand the finances before committing.

Talk to us and then you'll decide.

TC Tan
Senior Associate Director
Dennis Wee Group
 98765130 
dennisweeagent@yahoo.com.sg Read More

Looking to sell, buy or rent? Looking to re-evaluate your asset portfolio? Look no further.

As your dedicated real estate agent, I bring more than just industry expertise to the table; I bring a commitment to excellence and a passion for delivering results that exceed expectations. With a deep understanding of the market dynamics, I tailor my approach to suit your unique needs, ensuring a seamless and stress-free experience from start to finish.

Let’s start your journey to your dream home today! Right Believing, Right Living!

Call or text for a non-obligatory consultation discussion to know more.

Best Regards,
John Lai
“Right Believing, Right Living”
PropNex Associate Director
(M): 8444-0899 
Email: johnlaiproperty@gmail.com

Self introductory video - https://youtu.be/yygkGSG4Mtw

Social Media -
FB: facebook.com/johnlaiproperty
IG: @johnlaiproperty
Tiktok: @johnlaiproperty
YouTube: @johnlaiproperty Read More

Option Fee and Option Exercise Fee:

Correct Information: The agent's explanation is accurate. HDB requires a total deposit of S$5,000 for the Option to Purchase (OTP) in resale transactions. This consists of:
Option Fee: S$1,000 (paid upon granting the OTP)
Option Exercise Fee: S$4,000 (paid upon exercising the OTP to confirm purchase)
----------------------------888--------------------------------888-----------------------------

"If you need more assistance with property matters:

like renting / selling, buying / or investing, I'm here to help!

WhatsApp me at: ABLE Toh>>9856 9255 or through this link.:https://wa.me/6598569255

(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: (+65)>>9856 9255>> or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT ：）

“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”

XXXXX The End XXXXXXX Read More