Asked by Anonymous
If seller signed the Option To Purchase, and later want to cancel any penalty?
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2 Answers
It is always important to engage an agent to assist you in sale and purchase transaction. The professional advise will be helpful for these circumstances. www.catherinepang.com
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Morning,
As per all OTP, it's stated that once the seller grants the Option, they are binded by the contract to provide the buyer with necessary time to obtain their LO and revert back to exercise the Option. The seller have no other way out after they have issued an Option, under normal circumstances.
I agree with Keith that your salesperson should be able to assist you further as it's an outright bleach of contract. Work your way into it as legal proceeding can take around 2 to 4 years time.
FYI
Mike Lim
96929209
ERA Read More
As per all OTP, it's stated that once the seller grants the Option, they are binded by the contract to provide the buyer with necessary time to obtain their LO and revert back to exercise the Option. The seller have no other way out after they have issued an Option, under normal circumstances.
I agree with Keith that your salesperson should be able to assist you further as it's an outright bleach of contract. Work your way into it as legal proceeding can take around 2 to 4 years time.
FYI
Mike Lim
96929209
ERA Read More