Huttons: News

Bank Referral Fee - UOB & STCH (Updated As At 19.05.2012)

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PAYMENT ADVICE AS AT 16.05.2012

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Angry Public Hp No/Email Address To Be Omitted. Do-Not-Call/SMS/Email (Updated As At 16.05.2012)

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Namelist for Collection of Namecards

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Namelist for Collection of Magtag

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HDB Standard Option to Purchase – Now available on HDB InfoWEB

HDB has made an announcement that from 2 May 2012 onwards, the HDB standard Option to Purchase (OTP), the only form of contract in HDB resale transactions, will be available on the HDB InfoWEB for download.

Resale flat buyers, sellers and salespersons no longer need to obtain the pre-printed OTP form from the HDB. They can download and print the OTP form from the HDB InfoWEB at their own convenience and round the clock in the comfort of their home or office.

Each downloaded OTP form comes with a unique Serial Number. Salespersons will need to provide this Serial Number when they submit their client’s resale application via the HDB-ResaleNet or e-Resale.

HDB will continue to issue the pre-printed OTP form at the HDB offices until 30 June 2012 or when the current stock runs out, whichever is the earlier. Buyers and sellers who have entered into a contract using the pre-printed OTP form can still submit their resale application until 31 July 2012 by leaving the Serial Number field blank. From 1 August 2012, all resale applications must include the Serial Number of the OTP form downloaded from the HDB InfoWEB (i.e. HDB will stop accepting resale applications for transactions with the pre-printed OTP form). Salespersons are encouraged to start using the downloadable version of the OTP form for all their transactions.

Below is a list of FAQs provided by HDB for your reference. More information will be updated on the HDB InfoWEB on 2 May 2012.

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FAQs on revised procedure

Q: Who needs to download or print the OTP?

A: The OTP can be downloaded by either the buyers, sellers or their salespersons (if engaging the services of salespersons). Both buyers and sellers need to complete and sign on the printed OTP.

Q: How many copies of the OTP should I print?

A: You need to print one set of the OTP. Each OTP has a unique Serial Number and please do not print multiple copies. This Serial Number will have to be provided when buyers and sellers (or their salespersons) submit their portion of the resale application to HDB.

Q: Who keeps the OTP after the sellers have granted the Option to the buyers?

A: The buyers are advised to keep the OTP as they have paid the Option Fee to the flat sellers.

Q: I am the flat buyer. I have exercised the Option and want to pass the OTP to the sellers. Do I need to make a copy of the OTP for my own reference?

A: Both buyers and sellers are advised to make a copy of the OTP signed by the flat sellers and buyers, for their own reference. The original OTP will be submitted to the HDB at the resale first appointment.

Q: We have exercised the Option using the pre-printed hardcopy OTP obtained from the HDB. With the implementation of the downloadable OTP, does it mean that the OTP that we have exercised is invalid?

A: Once buyers have exercised the OTP, either using the pre-printed hardcopy OTP or downloaded from the HDB InfoWEB, both buyers and sellers have entered into a legally binding contract. Buyers and sellers who have used the pre-printed hardcopy OTP may proceed to submit their resale application accordingly. They are advised to submit the resale application by 31 July 2012. With effect from 1 Aug 2012, flat buyers, sellers or their salespersons must state the Serial Number of the OTP form downloaded from the HDB InfoWEB when they submit their resale applications to the HDB.

Q: When submitting the resale application, do I need to provide the Serial Number if I am using the pre-printed hardcopy OTP obtained from the HDB?

A: Sellers and buyers or their salespersons are required to key in the Serial Number of the OTP downloaded from the HDB InfoWEB in the field provided in the resale application form with effect from 1 Aug 2012.

Q: Do I need to submit the OTP together with my resale application?

A: No. Please submit the OTP signed by the flat sellers and buyers to the HDB at the resale first appointment. The full set of OTP form (pages 1-10), bearing the same Serial Number provided by the sellers and buyers or their salespersons in their resale applications, need to be submitted at the resale first appointment.

Huttons Nite 2012 (31 Jul 12)

Another Party specially organised for all Huttons Salespersons! The event will be held at Flair Entertainment, #01-06 Shenton House on 31 Jul 2012 from 6pm onwards with great food, drinks and lots of fun. It includes Talent Search and Darts Competitions with prizes of more than $1K to be given away. Hurry! Interested participants are to register with your respective DDs immediately on 1st-come-1st-serve due to limited vacancy.

Angry Public Hp No/Email Address To Be Omitted. Do-Not-Call/SMS/Email (Updated As At 20.04.2012)

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CPD Courses - Promotion

Good News! To encourage all salespersons to complete the required CPD for 2012 early, the price for each core CPD session (except QPPC) conducted in-house shall be $42.80 (inclusive of GST) instead of $56. Promotion shall be for courses scheduled from 01 May - 31 Jul 12 only. Hurry!!! 1st-come-1st-serve based on limited seats available.

Non-Singapore citizens purchasing strata landed house

With immediate effect non-Singapore citizens who wish to purchase strata landed houses built within non-condominium developments are required to obtain approval under the Residential Property Act.

Salespersons are to advise their non-Singapore citizen clients to apply to the Controller of Residential Property (Land Dealings (Approval) Unit (LDAU), in the Singapore Land Authority) before they purchase strata landed houses in non-condominium developments. The need for approval should be brought to the attention of the client before he enters into the option to purchase or the sale and purchase agreement. A copy of the application form may be obtained from SLA or downloaded from its website at www.sla.gov.sg.

Salespersons are also to advise their clients, who are developers, to include the clause (approved by the Controller of Housing) in their prescribed Option to Purchase and Sale and Purchase Agreement for the sale of strata landed houses in non-condominium developments. Please refer to the attached SLA Circular for the clause.
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Last Office Space for Rent

Hurry, Last space on 1st-Come-1st-Serve! A small cubicle (3 seats) is available for rent in #05-05.

For more details, contact Haibo @ 6500 6553.

Potential Millionaire - Huttons $1M Lucky Draw

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Mandatory CPF Medisave Contribution by Salesperson

Effective Date

For new applicants who are self-employed persons: With immediate effect

For registered salespersons who are self-employed persons: With effect from the renewal exercise in Oct 2014

Contribution to CPF Medisave

All self-employed persons are required to register with the CPF Board when they commence business. Under Section 3(1) of the Central Provident Fund (Self-Employed Persons) Regulations, self-employed persons who earn a yearly net trade income of >$6K a year need to contribute to Medisave. The Medisave contribution payable is based on age and net trade income for the year. Self-employed persons can find out how to make payment from CPF Board's website www.cpf.gov.sg.

With immediate effect, it will be a registration requirement for individuals who apply to be salespersons to contribute to their Medisave, if they are self-employed. Registration and renewal applications will not be approved for those who are in arrears of their contributions and have not made arrangements with CPF Board to pay.

For salespersons who are currently registered and are self-employed, CEA will impose this as a renewal requirement starting from the renewal exercise in Oct 2014. All are advised to check on CPF Board's website if they are in arrears of their contributions. Should they be in arrears and not make arrangements with CPF Board to pay, their registration will not be renewed starting from the renewal exercise in Oct 2014.

Please do not check directly with CEA if there are any queries on the above but check with CPF Board on Medisave-related questions such as whether they need to contribute, how much they are required to contribute, and how to make payment.

Recruitment Incentive

Good News! Back by popular demand, newly recruited salespersons that join Huttons from 3 Jan - 31 Jun 12 can claim for $300 reimbursement from receipt of 1st commission. Pls note that claim must be submitted within TWO months from receipt of 1st commission.

PERFORMANCE INCENTIVE - S$1 MILLION LUCKY DRAW

Golden opportunity not to be missed! 10 lucky draw prizes of S$100K cash each will be given away during our Annual D & D 2013. To qualify, just complete 5 x successful project transactions where Huttons is the marketing agent from 01 Nov 2011 - 31 Dec 2012 to remit for 1 x lucky draw ticket. Co-broke(internal/external) will be considered as 0.5 case and will not be eligible if there are dispute and/or co-broke cases that have more than 2 salespersons, Claims must be submitted to #02-01 asap or by 31 Dec 2012. To be eligible, he/she must be a practising salesperson in Huttons, and CEA registered on the day of the draw. Check with your GDs/DDs for more details.

CEA Ethical Advertisement and Prescribed Estate Agency Agreement Guidelines

CEA had issued the guidelines to enhance clarity and understanding. Attached are the 2 sets of guidelines for strict compliance with immediate effect. Any infringement is subject to CEA's disciplinary action, including fine and suspension.

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