Hi,
1) In order for a contract to be valid, there must be 3 main factors to be legal:
(a) Offer (Buyer express offer)
(b) Acceptance (Seller express acceptance)
(c) Consideration (money)
2) 1(a) & 1(b) is present, however, there is a missing factor which is money. There is no priority on the above 3 factors. As long as any of these factors is missing, there shall be no contract between buyer and seller.
3) This was the main reason we always advise buyers to bring a cheque along during a viewing. If buyers do not own any cheque, it is best to view the unit during the daytime and possibly on the weekday before the bank close. So as to get a cashier order for the seller.
4) If not possible to view during office hours and no cheque. We will check the validity of the seller's ownership before advising to do an electronic transfer so as to seal the deal.
5) Seller has all the right to accept an offer with anyone who presents the money. That will form a legal relationship between buyer and seller. Anyone who backs out of the deal will face legal consequences.
6) In your case, it is only just a verbal understanding that you have an intention to buy. Thus you can't pursue the case any further.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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