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Hi,

Nope seller can’t back out after collecting the 1% and signing on the OTP. If seller insist, the buyer could engage a law firm to sue for compensation.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi there,

An OTP agreement is a legal contract signed between a buyer and a seller so the seller will not be able to withdraw or cancel the OTP in your situation.

Kind Regards,
Tan Shi Kai
陈诗凯
 +65 8827 3273 

CEA Reg.No:
R064510D

ERA | Preeminent Group

Managing assets with the right mindset.
My integrity safeguards your interests Read More

Hi,

Once the Seller has accepted the option money and granted the OTP to the Buyer, he/she cannot back out from the deal. The onus is then on the Buyer whether to exercise the OTP. Should the Buyer fail to exercise the OTP, the Seller can keep the option money and back out from the deal.

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Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

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*** ✔✔Connect Singapore Line: ✔✔(65) 9856*9255

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