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Hi RT, After OTP is being issued to the buyer, only the buyer has the right to back out from the agreement within the 21 days option period by not exercising the OTP and forgo the $1k option money so not to worry. If you have any other doubts or questions about your property purchase, feel free to contact me. Warmest Regards, YT TAN 陈永达 | ACCA Graduate, RES Senior District Manager R043025D ECG Property Pte Ltd (A Wholly Owned Subsidiary of ECG Group of Companies) Estate Agent no. L3009759F Blk 190 Lorong 6 Toa Payoh #05-508 S (310190) (M): +65 9111 5171  (E): yt.lovelyhomes@gmail.com (W): www.yttan.com (W): yttan.stproperty.com.sg/ (W) www.lovelyhomes.com.sg (W) www.ecgproperty.com Read More

Hi Ms R T, only the buyer could back out and choose not to exercise the contract by losing the option fee which he has paid. The amount ranges from $1 to $1000. But as for the seller, he can't back out once he collects the option and issue the OTP. In the event if he does that, the buyer can sue the seller and gets quite a bit of compensation. Regards Aaron 97308455  aaronchong2774@yahoo.com.sg Read More

Afternoon, If you have read through the OTP and seller's checklist, you would understand that once Option are issued by seller, they cannot back out from the contract. The buyer are the only party with the liberity to carry on and exercise the OTP or give up their Option fee for other unit. FYI Mike Lim 96929209  m52i@yahoo.com ERA Read More

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