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Hi Loh, nope the seller can’t back out. Only the buyer can back out by not exercising the OTP.

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

Hi Mr. Loh,

21 days is not a cooling period for anyone. It is in fact, the time needed for buyer:
(1) who took bank loan and need certain time frame to chunk out the Letter of Offer on the loan by the bank.
(2) Get a Valuation report.

Thus only buyer is allowed to back out from the deal upon received the OTP. The reasons could be:
(a) Valuation is much higher or lower than expectation.
(b) Bank's loan offer cannot match buyer's requirement to proceed with the purchase.
(c) Financial difficulties due to any other reason.

Hope the above answer to your main concerns, but if there are more queries, do not hesitate and feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

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Hi Mr Loh,

There is no cooling period once your have accepted the option fee and issued the OTP.

The only possible way would be for the Buyer to back out from the deal, by not exercising the OTP.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More