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When is the Letter of Intent cancelled?
I delayed the payment of the holding deposit in agreement with the realestate agent because my foreign company was checking form of transfer, which we kept agent informed about. She agreed to the process. Suddenly she cancelled the LOI on behalf of the owner. We have all correspondence in writing and did everything in agreement with agent and landlord.
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2 Answers

Hello
Usually on the LOI, there is a clause that say 2 or 3 days. You need to send thru the goodfaith deposit. In current hot rental market. I am not surprise if a new tenant come forward with an extra $$$ and the landlord will just take one who can pay up right away.

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Silvia Chua
ERA Realty Network Pte Ltd Read More
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Dear sir/mdm,

LOI does not carry any legal binding effect, in addition, there is no booking deposit being put forward, it will be unfair to the landlord if they have received another offer where all the required considerations are in place. In this process, you may wish to seek explanation from the agent since you mentioned you have everything in agreement with agent and landlord before you decide on next action.

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