Asked by Mr. Alan Teo
Hi dear all, need some urgent help with a sticky situation here.
- Basically my parents are planning to rent out their current 3 room HDB unit.
- I was planning to help them source for an agent to get people to rent the unit.
- They met an agent recently and say may have a buyer. They just want to consider renting or selling but haven't made up their mind as want to see if sell can get how much max.
- Then agent today said they already signed the OTP and took $1K as deposit.
- What happened is that my parents thought they can refund as they have not yet decided and they never thought the OTP is the final document.
- Agent said the cooling off period is before the signing of the OTP. Once signed means cannot back off and can't even return the deposit as no use, unless buyer backs out.
I need some advice here, any idea can reverse the situation? And is what the agent saying correct? Please help, if convenient can pm me your contact and we can discuss. Thanks
- Basically my parents are planning to rent out their current 3 room HDB unit.
- I was planning to help them source for an agent to get people to rent the unit.
- They met an agent recently and say may have a buyer. They just want to consider renting or selling but haven't made up their mind as want to see if sell can get how much max.
- Then agent today said they already signed the OTP and took $1K as deposit.
- What happened is that my parents thought they can refund as they have not yet decided and they never thought the OTP is the final document.
- Agent said the cooling off period is before the signing of the OTP. Once signed means cannot back off and can't even return the deposit as no use, unless buyer backs out.
I need some advice here, any idea can reverse the situation? And is what the agent saying correct? Please help, if convenient can pm me your contact and we can discuss. Thanks
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