Asked by Edwin
Dear Guru,
I owned one studio unit in The Modules SOHO. Lately, an agency introduced a buyer and we proceeded to sign the option to purchase after we had agreed on the pricing and the payment of an initial 1% deposit. However just 2 days ago, the buyer had decided not to proceed with the option to purchase as he discovered that he cannot use his CPF, hence he is not able to afford the property without an upfront top up cash. I had informed the agency that this is none of my problem, and I had a prerogative not to refund the 1%. However, the agency informed me that i should take the blame and the responsibility to refund the money as I did not informed that Modules SOHO is not eligible for CPF withdrawal. I was surprised to hear that the agency did not do their due diligence before marketing the property. If the buyer continues to pester me, can i bring these complaints to the CEA? Thanks for your advice
I owned one studio unit in The Modules SOHO. Lately, an agency introduced a buyer and we proceeded to sign the option to purchase after we had agreed on the pricing and the payment of an initial 1% deposit. However just 2 days ago, the buyer had decided not to proceed with the option to purchase as he discovered that he cannot use his CPF, hence he is not able to afford the property without an upfront top up cash. I had informed the agency that this is none of my problem, and I had a prerogative not to refund the 1%. However, the agency informed me that i should take the blame and the responsibility to refund the money as I did not informed that Modules SOHO is not eligible for CPF withdrawal. I was surprised to hear that the agency did not do their due diligence before marketing the property. If the buyer continues to pester me, can i bring these complaints to the CEA? Thanks for your advice
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