I am afraid that legally speaking you are bound to sell the place to the buyer unless the buyer does not exercise the option to purchase. What Zhiwei has mentioned could be an alternative to resolve the situation by returning the deposit or even topping up an amount to be returned to the buyer to see if they are agreeable to void the deal.
I am perplexed about how did you derive that unit has been sold below market price and on what basis have you referred upon to make a decision to sign on the Option to Purchase then? You may refer to the CEA to feedback about this incident which you feel that the salesperson you have engaged did not act in the interest of you.
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 /+65-92787772
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