10-03-2014, 10:56 PM
(This post was last modified: 10-03-2014, 10:57 PM by thefarside.)
Loopholes anyone?
1. Ask friend to sign OTP. Lend him 1k
2. Pay you 1k option fee. OTP price for your flat is +150k (or some high number) against the record price in your area. Lets say 900k.
3. Commission valuation
4. See valuation report
5. Let option lapse
6. Buy friend coffee.
HDB will then set rules around exercising of OTP, possible transaction prices, illegal use of phantom buyers for transaction etc.
1. Ask friend to sign OTP. Lend him 1k
2. Pay you 1k option fee. OTP price for your flat is +150k (or some high number) against the record price in your area. Lets say 900k.
3. Commission valuation
4. See valuation report
5. Let option lapse
6. Buy friend coffee.
HDB will then set rules around exercising of OTP, possible transaction prices, illegal use of phantom buyers for transaction etc.