Afternoon,
Once the seller grants the option, the ball is in the buyer's court. Seller cannot back out, unless the buyer do not exercise the Option, within the Option Period. Buyer have all the rights to exercise the option, when they are done with their mortgage documents. The seller have to go through the S&P and the buyer have the rights to ask the seller to perform the transaction according to the OTP.
Failing to do so, the buyer can request for compensation. Such compensation may differ, but would normally require the seller to pay the difference in purchase, if the buyer bought another unit at higher pricing.
FYI
Mike Lim
96929209
ERA
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