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Hi, i am selling my hdb with 1st appt coming next week. I have also bought a condo which i excercised option this week.. While excercising option for my condo, the lawyer warned me that if buyer for my hdb backs out, i will be forced to either fork out another 20% down for the condo or fully pay up my hdb. Well, i already squeeze out to pay for the 20% condo dwnpay... I know i can sue the byer but that takes time... Any solution in such a case? Appeal to MAS???
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1 Answer

Mike Lim
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Afternoon Colin,

As per your statement, 'while exercising the Option, your lawyer warned you...' if you do not even bother to engage a qualified salesperson nor listen to your lawyer, what makes you think you will consider our advice from here?

Under normal standard circumstances, buyers for HDB seldom back it from the transaction. The buyer knows about the label consequences and HDB buyers purchase mostly on needs, unlike condo buyers who mostly purchase on wants.

However if such unfortunate case does happen, you will be tie up on both ends.

Good luck

Mike Lim
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