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Asked by Karrot 18 Jul 2011

I have paid 1% deposit to the owner as option fee, by cheque, without signing any document yet. If I decide not to continue, can I ask bank to stop the cheque ?

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Geryl Lim · Answer 1 · 2011-07-18T18:51:04+08:00

Geryl Lim

Replied 18 Jul 2011

Answer is no. 1% paid to owner is in exchange to secure the Option To Purchase for the unit. Should you decided not to proceed with this purchase, the owner has the right to forfeit your 1%. Talk to the agent representing you in this case.

Regards,
Geryl LIM
Real Estate Consultant
CEA Registration R014783H
Mobile: +65-81577565
Email: lim.geryl@yahoo.com.sg Read More

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