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If I am a private property seller and received the 1% cheque from buyer as consideration to his offer? I would bank in the cheque 1st to be sure both cheque and buyer are genuine and sincere before I give it a serious consideration. At this stage I am still at consideration without signed option issued. Why would it be considered as option exchanged and consideration accepted? I would be a fool to consider every cheques without knowing if they would clear or not! or please correct me if i am wrong. Thanks
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2 Answers

Aaron Chong
Replied
Hi, it would never meant offer and consideration accepted where the OTP is not signed. Usually the buyer agent would give you a day to consider the offer and by the next day at 4pm, you will have to return the cheque back to the buyer agent if you rejected his buyer's offer.

Regards
Aaron
 97308455 
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Mike Lim
Replied
Morning,

Do note that the act of depositing the Option cheque into your account can be considered that you are accepting the offer. Hence it would only be wise to consider the offer, accept the option before you bank in the option cheque. In the case if the cheque bounced, do contact your agent to do the necessary follow up.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
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