Toa Payoh House…selling selling…Sold!
Mom marched in to my room and told me that she wanted to sell off Toa Payoh 3-room 2 weeks ago. I called Michael, current tenant and initially, he did not want to buy. Then, last week, he called again and agreed to the price of $190K
As I knew that he want to undercut any agent, if as much as possible, I cannot let him know that I am THE AGENT. Thus, I called Alison to help me.
We went to the place (Toa Payoh) at 2:30 pm as requested by his mom (Very superstitious person)  Luckily Maggie was with me. She explained the term and condition and the process of transaction and finally, completed the signing at about 5:00pm
So far, outstanding item:
From our end:
- Need to produce a undertaking letter that the upgrading cost is bear by us.
- The house is owned, solely by mum
- A list of item to be included in the sales
From there end:
- Arrange for his wife to be in Singapore
- A letter of Power of Attorney
- A bank loan offer letter
So, till 22 Aug, Michael should execute the option or his $1000 will be confiscated.
Thereafter, we will need to go for HDB interview, somewhere around end of Oct and then, takes another 2 months to complete the whole process. Foreseen to be end of year.