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Only HDB has the right to reject the sale after the Option To Purchase has been exercised. Seller or buyer cannot unilaterally pull of out the deal. Read More

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, at that stage no one is allowed to back out be it the seller or the buyer.

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

Hi there,

- No, a seller can not back out of a deal before the HDB completion date, but there can be significant consequences. Typically, it depends on the terms outlined in the Option to Purchase (OTP) or Sale and Purchase Agreement.

- In my experience, if a seller backs out at this stage, the buyer may be entitled to claim damages. This could include the forfeiture of the option fee or more serious legal implications.

- One thing I have found helpful is to communicate openly with all parties involved to avoid such situations. It’s crucial to understand both the legal and financial impacts before making any decision to back out.

Thank you.

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Hi,

The seller cannot do so as the OTP is already legally binding, and the resale application approved by HDB. If the seller does not go through, he or she is liable for legal liability and may be forced by the courts to see through the transaction.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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Hi, appreciate your sharing. Best to seek legal advise
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More