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i am a pr and was in the process of buying hdb and have exercized otp some few back.Now i want to cancel the deal due to some new personal issues and will need to leave singapore in the next 6 months..can you pls tell me what are the choices and whether there can be any other penalties?
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1 Answer

Mike Lim
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Evening,

You can talk to your seller and hope that they are willing to withdraw the case and not seeking and claims against you. Under standard ruling, the default party will be liable for possible claim on loses which the other parties might suffer. Or they can insist for specific performance and force you to go through the S&P process as you have exercised the OTP.

FYI.
Mike Lim
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  • SV
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    Thanks Mike for the response.Also the first appointment is not done yet.
    Iam ready to forego the 5000/- that i initially paid.so will that not suffice ?

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