Asked by Anonymous
can seller return the option fee? and not go with OTP ? if yes in what time frame for condominium buying?
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2 Answers
Hi, nope the seller can’t return the option fee upon signing the OTP. The buyer could engage a lawyer and to ask for specific performance if seller does that.
Regards
Aaron
9730 8455
aaronchong2774@yahoo.com.sg Read More
Regards
Aaron
9730 8455
aaronchong2774@yahoo.com.sg Read More
Hi,
If you're the Seller, and has accepted the Option Fee and granted the OTP to the Buyer, you cannot back out from the deal. The only way the deal do not go through is when the Buyer does not exercise the Option.
If you're a Buyer and has place the Option Fee and was accepted by the Seller, you can still choose not to proceed to exercise the OTP. In this situation, you will lose the Option Fee.
Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.
Thank you.
Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More
If you're the Seller, and has accepted the Option Fee and granted the OTP to the Buyer, you cannot back out from the deal. The only way the deal do not go through is when the Buyer does not exercise the Option.
If you're a Buyer and has place the Option Fee and was accepted by the Seller, you can still choose not to proceed to exercise the OTP. In this situation, you will lose the Option Fee.
Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.
Thank you.
Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More