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Hi, after signing the OTP and paying the 5%, can a buyer legally exit the contract and lose just the 5%? Can the seller claim for more (say the seller has bought another property as he had to find a replacement). Many thanks!
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2 Answers

HL Fong
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Seller can sue for specific performance of the sale & purchase transaction.

Try to negotiate with the owner - some are quite happy to keep the 5% and void the sale. Read More
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Andy Chua
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Hi Iwan,

As Derrick and HL had pointed out, the seller can sue the buyer to force the buyer to complete the sale. Read More
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