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I’m a diy buyer, I made an offer for a hdb unit listed on PropertyGuru and my offer got accepted by the seller agent. However the seller did not apply for intention to sell and can only pass me the otp 7 days later. I passed the seller the $1000 option fee cheque as a gesture of my commitment to purchase his hdb. Seller accepted the cheque but did not bank in. After the completion of the 7 days cool off day, seller informed me he has signed the otp, the otp date is the next day and is ready for collection. I made arrangement to collect the otp the next day, however on the next day morning, on the day of the first day otp grant date, seller agent informed me he has decided to void the otp and will return me my cheque as his neighbour has informed him he has sold 10% more than our agreed price, and seller wants me to match this new price. What can I do here?
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2 Answers

Ling CK
Replied
Hi,

1) Shifting of sellers' expectations happened from time to time.
2) We also don't like to see this happened.
3) You have 2 choices:
(a) Don't accept the returned cheque and sue for damages.
(b) Accept the returned cheque and look for a better unit.

Hope the above answer to your main concerns, but if there are more query, please 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
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Robbie Chen Chee Howe
Replied
Hi,

Question is, do you have the OTP in your hands? If yes, Seller cannot back out. If no, then it's probably advisable for you to accept the refunded cheque and walk off from the deal, unless you're willing to match the Seller's new price.

The way I look at it, there may be some ways where you could have done better to secure this deal, perhaps with the help of a professional agent. Being a DIY buyer, you may not have the experience to handle a tricky deal like this, especially in today's seller's market.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require 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
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