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We need your advise on the following: We have recently signed on the option to purchase form, to sell our current flat. We have received the option fee ($1000) from the seller. But due to some reasons, we decided on to go ahead with the transaction. At the moment, the buyer has yet to exercise the option and we have not received the deposit. I would like to check if there's any penalty? Can the buyer sue us?
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9 Answers

Hi, technically you can't back out at the present moment. But you could always seek the help and assistance of your servicing agent.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More
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Dear seller,

The moment you have granted the Option To Purchase, it will be legal binding on your end to sell this property to this buyer who have made the offer until this Option To Purchase expires (should the buyer decided not to exercise the Option To Purchase). Like what Aaron has mentioned, the only way to back out from this transaction is to get mutual agreement with your buyer.

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Hi,

Legally, whether to complete the transaction now all depends on the buyers, that is the purpose of issuing the Option to Purchase. If you decide to back out now, they do have the right to sue. You may like to check with your servicing agent to find out if a solution can be arrived at for all parties. Thanks and hope it helps.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
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Afternoon,

As seller, once you have inked the OTP, you are not eligible to withdraw from the contract unless your buyers do not exercise it. Legally, your buyers do have be right to exercise the OTP without your consent. Once that have being executed, both of you are required to submit the case to HDB. If you do default, they have all the legal rights to sue you for compensation. It would be prudent to talk to your agent and try to work out on the details.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856 9255  , Property Agent (Director ) or via this link:

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✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助,
包括出租、出售、购买或投资,
欢迎联系我。

✔✔ 房地产经纪(董事) 诗强:/ABLE TOH (65)9856 9255 
WhatsApp:https://wa.me/6598569255

✔✔✔查看我的客户评价:
Able S K Toh,房地产经纪(董事) 诗强
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
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新推出私人公寓资料、电子手册、户型图及价格表,
欢迎随时联系。

✔✔ 新加坡联系号码(ABLE TOH)/ 诗强:(65)9856-9255
✔✔ 电子邮箱:Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More
0
WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856 9255  , Property Agent (Director ) or via this link:

https://wa.me/6598569255

Unfortunately, this platform does not allow direct contact, but you can easily reach me on WhatsApp.

✔✔✔You can READ my REVIEWS here:Able S K Toh

https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

For PRIVATE HOME BUYERS

✔✔ I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge

✔✔ Most PRIVATE seller agents are willing to share commission with buyer agents

DEVELOPER SALES TEAM

✔✔ BEST PRICES ✔✔ NO AGENT FEES

✔✔ LOWEST PRICE GUARANTEED

For UPDATED INFO, E BROCHURE, FLOOR PLAN, and PRICE LIST for New Launches Condominium in Singapore, contact me directly.

✔✔ Connect Singapore Line (ABLE TOH): (65) 9856 9255  , Property Agent (Director )

✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助,
包括出租、出售、购买或投资,
欢迎联系我。

✔✔ 房地产经纪(董事) 诗强:/ABLE TOH (65)9856 9255 
WhatsApp:https://wa.me/6598569255

✔✔✔查看我的客户评价:
Able S K Toh,房地产经纪(董事) 诗强
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
✔✔ 协助转售及新私人住宅
✔✔ 买家无需中介费

发展商销售团队
✔✔ 最优惠价格
✔✔ 无中介费
✔✔ 保证最低价

新推出私人公寓资料、电子手册、户型图及价格表,
欢迎随时联系。

✔✔ 新加坡联系号码(ABLE TOH)/ 诗强:(65)9856-9255
✔✔ 电子邮箱:Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More
0
WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856 9255  , Property Agent (Director ) or via this link:

https://wa.me/6598569255

Unfortunately, this platform does not allow direct contact, but you can easily reach me on WhatsApp.

✔✔✔You can READ my REVIEWS here:Able S K Toh

https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

For PRIVATE HOME BUYERS

✔✔ I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge

✔✔ Most PRIVATE seller agents are willing to share commission with buyer agents

DEVELOPER SALES TEAM

✔✔ BEST PRICES ✔✔ NO AGENT FEES

✔✔ LOWEST PRICE GUARANTEED

For UPDATED INFO, E BROCHURE, FLOOR PLAN, and PRICE LIST for New Launches Condominium in Singapore, contact me directly.

✔✔ Connect Singapore Line (ABLE TOH): (65) 9856 9255  , Property Agent (Director )

✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助,
包括出租、出售、购买或投资,
欢迎联系我。

✔✔ 房地产经纪(董事) 诗强:/ABLE TOH (65)9856 9255 
WhatsApp:https://wa.me/6598569255

✔✔✔查看我的客户评价:
Able S K Toh,房地产经纪(董事) 诗强
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
✔✔ 协助转售及新私人住宅
✔✔ 买家无需中介费

发展商销售团队
✔✔ 最优惠价格
✔✔ 无中介费
✔✔ 保证最低价

新推出私人公寓资料、电子手册、户型图及价格表,
欢迎随时联系。

✔✔ 新加坡联系号码(ABLE TOH)/ 诗强:(65)9856-9255
✔✔ 电子邮箱:Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More
0
WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856 9255  , Property Agent (Director ) or via this link:

https://wa.me/6598569255

Unfortunately, this platform does not allow direct contact, but you can easily reach me on WhatsApp.

✔✔✔You can READ my REVIEWS here:Able S K Toh

https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

For PRIVATE HOME BUYERS

✔✔ I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge

✔✔ Most PRIVATE seller agents are willing to share commission with buyer agents

DEVELOPER SALES TEAM

✔✔ BEST PRICES ✔✔ NO AGENT FEES

✔✔ LOWEST PRICE GUARANTEED

For UPDATED INFO, E BROCHURE, FLOOR PLAN, and PRICE LIST for New Launches Condominium in Singapore, contact me directly.

✔✔ Connect Singapore Line (ABLE TOH): (65) 9856 9255  , Property Agent (Director )

✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助,
包括出租、出售、购买或投资,
欢迎联系我。

✔✔ 房地产经纪(董事) 诗强:/ABLE TOH (65)9856 9255 
WhatsApp:https://wa.me/6598569255

✔✔✔查看我的客户评价:
Able S K Toh,房地产经纪(董事) 诗强
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
✔✔ 协助转售及新私人住宅
✔✔ 买家无需中介费

发展商销售团队
✔✔ 最优惠价格
✔✔ 无中介费
✔✔ 保证最低价

新推出私人公寓资料、电子手册、户型图及价格表,
欢迎随时联系。

✔✔ 新加坡联系号码(ABLE TOH)/ 诗强:(65)9856-9255
✔✔ 电子邮箱:Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More
0
WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856 9255  , Property Agent (Director ) or via this link:

https://wa.me/6598569255

Unfortunately, this platform does not allow direct contact, but you can easily reach me on WhatsApp.

✔✔✔You can READ my REVIEWS here:Able S K Toh

https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

For PRIVATE HOME BUYERS

✔✔ I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge

✔✔ Most PRIVATE seller agents are willing to share commission with buyer agents

DEVELOPER SALES TEAM

✔✔ BEST PRICES ✔✔ NO AGENT FEES

✔✔ LOWEST PRICE GUARANTEED

For UPDATED INFO, E BROCHURE, FLOOR PLAN, and PRICE LIST for New Launches Condominium in Singapore, contact me directly.

✔✔ Connect Singapore Line (ABLE TOH): (65) 9856 9255  , Property Agent (Director )

✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助,
包括出租、出售、购买或投资,
欢迎联系我。

✔✔ 房地产经纪(董事) 诗强:/ABLE TOH (65)9856 9255 
WhatsApp:https://wa.me/6598569255

✔✔✔查看我的客户评价:
Able S K Toh,房地产经纪(董事) 诗强
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
✔✔ 协助转售及新私人住宅
✔✔ 买家无需中介费

发展商销售团队
✔✔ 最优惠价格
✔✔ 无中介费
✔✔ 保证最低价

新推出私人公寓资料、电子手册、户型图及价格表,
欢迎随时联系。

✔✔ 新加坡联系号码(ABLE TOH)/ 诗强:(65)9856-9255
✔✔ 电子邮箱:Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More
0

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