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friend of mine committed to buy a landed property, went ahead to pay 1% ATO, 4% on option exercise and stamp duty. He found a better property and wants to back off the purchase of that committed property.
1) can he do it?
2) what is the procedure?
3) What are the consequences?
Thanks in advance for the advice.
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3 Answers

Mike Lim
Replied
Good morning,

Basically, once the buyer have exercised the Option, you would not be able to withdraw from the S&P. You can try to talk to the seller and see if they are willing to accommodate. Otherwise, the buyer will have to commit to the purchase.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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OHMYHOME PTE LTD
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Landon Chew
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Hi, hopefully you managed to sell your unit at a good price then. If, so then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

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https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More
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