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If a seller cancels the HDB transaction and buyer subsequently lodges a caveat on the apartment, what are the consequences? Eg when home is sold eventually does buyer have a claim on sales process? If so how much?;also can that caveat remain indefinitely even as buyer gets another HDB ? Pls advice as i am seller who backed out after finding out that my agent deceived me and got me to sell at $630k when market is $700+. Tq.
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1 Answer

Mike Lim
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Afternoon,

You are saying that your buyer lodge a caveat on your unit after the transaction have being cancelled or the HDB transaction have being cancelled but your buyer didn't remove the ceveat? Either case, you will have to talk to the buyer and get them to remove the caveat. Without removing this, you will have issues selling your unit again as your buyer might have lodged the caveat for other reasons.
However, if the caveat was lodged, HDB transaction cancelled and your buyer's lawyer did not remove the caveat, we can get your acting lawyer, during the upcoming sales to write in and request for it to be removed.

Cut the chase short, there are ways around it but as I do not know the whole picture, it's tough for me to assist you here.

Do feel free to contact me if you require further assistance

Regards
Mike Lim
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