AskGuru Q&A Community

Hi Mr. Tan,

Are you referring to the situation where the Option is issued by seller, but the purchaser didn't exercise? Depending on whether it is HDB or Private Property, the Option Fee to be forfeited will vary (with private property higher), and the purchasers will just let the Option expire, and the sellers get to keep the forfeited option fee. Thereafter you (the seller) are allowed to sell to any other party, and neither party has any further obligation to each other.

Thanks is there an opportunity where I can work with you to assist further? Hope to speak soon.

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com
www.ivanng10.com Read More

Evening Mr. Tan,

If a buyer placed an option fee, he does have the right not to exercise the option. The seller will then have to market the unit again and look for another prospective buyer. However, if the buyer have exercised the option but opt to back out from the transaction, seller have right to request for specific performance or ask for legal compensation.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More