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Hi Gerald,

Do you mean for new launch? Did the lawyer explain to you when you sign the S&P on the consequences?

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Senior Division Associate Director
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
 +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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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, I believe you are referring to a new launch project and I also believe that your lawyer have also explained all the terms to you fully on the day when you exercised it.

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

Hi, what S&P have you signed, usually you can't back out of it, you can check with your lawyer to see if it is possible, or maybe do a subsale?

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
 97396040 
landonchew@email.com Read More

In Singapore, backing out of a property purchase after signing the Sale and Purchase Agreement (S&P) can be a serious matter with financial consequences. Here's a breakdown of what you might face:

Forfeiture of Option Fee: Typically, an option fee is paid upfront to reserve the property while the S&P is being prepared. If you back out after signing the S&P, this option fee is likely forfeited.

Liquidated Damages: The S&P might include a clause for liquidated damages. This is a predetermined amount you owe the seller if you breach the contract (e.g., by backing out).

Potential Lawsuit: In some cases, the seller might sue you for the full purchase price or the difference between the agreed price and the eventual selling price if they have to resell at a lower price.

Here's what you can do:

Review the S&P: Carefully read the S&P, specifically clauses related to option fee forfeiture, liquidated damages, and potential legal action in case of buyer withdrawal.

Consult a Lawyer: A property lawyer can advise you on your specific situation and the potential financial implications of backing out. They can help you negotiate with the seller or explore legal options if you have a valid reason for withdrawing.

Negotiate with Seller (if applicable): If there's a genuine reason for backing out (e.g., unexpected financial hardship, inability to secure financing), attempt to communicate with the seller and see if a mutual agreement can be reached, possibly involving a partial refund of the option fee.

Remember: Signing the S&P is a legally binding agreement. It's crucial to understand the potential consequences before withdrawing. Consulting a property lawyer is highly recommended to protect your interests. Read More

I am Sorry that This platform does not allow me to direct contact you.

To further assist you, please feel free to contact me via WhatsApp at 9856 9255  or through this link: https://wa.me/6598569255.

My services come with no obligations, and I'm here to help with any questions or assistance you need.

You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: +65 9856 9255  or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT ：）

“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”

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