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Asked by Anonymous 15 Sept 2015

If I have signed contract with agent and buyer. OTP not exersied yet.But for some reasons I don't want to sell now. Is there any penalty charges ?
Thank you

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Aaron Chong · Answer 1 · 2015-09-15T14:19:38+08:00

Aaron Chong

Replied 15 Sept 2015

Hi, I'm sorry to inform that once OTP is signed by both parties, the seller is bound by it and cannot back out anymore. Only the buyer can back out by not exercising and letting the option fee be forfeited. Pls feel free to let me know if you need any assistance.

Regards
Aaron
9730 8455
aaronchong2774@yahoo.com.sg Read More

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Mike Lim · Answer 2 · 2015-09-15T20:12:08+08:00

Mike Lim

Replied 15 Sept 2015

Evening,

As seller, once you have accepted the offer and issued the Option, you cannot back out from the S&P unless they do not exercise the Option.

FYI
Mike Lim
96929209
m52i@yahoo.com
ERA Read More

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