advice on selling house: any risk involved if we allow early reno?

[jkids]

Hi, need some advice from those who have sold or are selling their previous house.
My buyer would like to start their renovation after approval is given by HDB subsequent to the first appointment. The normal process flow is to renovate only after the second appointment. But HDB does allow for an earlier renovation if both seller and buyer agree.
We feel that this is a risk as the buyer can still back out after the first appointment (despite having paid the option fee, option exercise fee and various admin fees). He may leave my house in a mess and go MIA.
Will you take the risk of allowing the buyer an early renovation or follow the standard procedure of allowing renovation after the 2nd appointment?

 

[TKTOTTS]

Hi Jkids,

I understand whee you are coming from.
In legal terms, HDB or even Pte property there no such things as handing the keys earlier to the buyer for them to 'move in' to do their renovations.

Bit there are many people does practice this format just for courtesy sake.

You are rite on the part that just incase they can back out even b4 completion. However is very rare. But if is does, you will have to bare with the house half done renovations is there is and in this way you will have bigger headache to sell the flat again. Or worst case the house got burn dw due to negligence.

Key point to note: you are still consider the owner of that property till the deal is complete.

Most of the time, request for renovation by the buyers is usually done before signing the OTP. In this case since you are not comfortable to let him have the keys, don't do it.

 

[jkids]

yes for your advise. I didn't accommodate to the request in the end..