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Good morning,

you will receive cashier order (sales proceeds) on completion date. You will receive the amount in your bank account after its cleared within 1 to 2 working days.

There is always an inevitable/ unforeseen circumstances that buyers are unable to complete the purchase but chances are slim. For example, death of buyer etc.

Hope my sharing aids in your property needs. Do contact me if you need any further assistance on your sale.

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YT Tan
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Hi, it will be on the completion date. There are always small chances for them to back out, due to certain circumstances.

Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me.

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, although it may happen but generally buyer will not back out once they have exercised the OTP.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi,

You will receive the cashier order for the balance sale cash proceeds on completion date itself. After banking it in, typically around 1 or 2 working days it will be credited into your bank account.

There is always an unlikely possibility that they may back out but you have a legal right to enforce them to complete since the contract is already legally binding, or to seek financial compensation. But it can be a long-drawn process since the matter will be taken to court to address and for the legal process to play out.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

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Hi, appreciate your sharing. Sale proceeds is on completion date and CPF OA refund is 2 weeks after.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

On completion date, the buyers would have made all necessary payments required to the law firm and your sales proceeds will also be ready by then in form of cashier's order while the CPF funds will be refunded to your account within 2-3 weeks. If completion is cleared in the morning, you can bank in the cashier's order early and should see the funds in your bank account the following day.

Should buyer decide to withdraw after exercising the OTP, you can seek advise from your lawyer on how you can claim the buyers for backing out of the legal binding agreement.

——

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

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Hi Sir/Mdm,

1. You will be receiving the Cashiers Order on 31st Nov and it will usually take 1 to 2 working days to clear.

2. Once the OTP is exercised, legally the buyer is required to purchase the unit and therefore if the buyer is to back out, you have the legal right to enforce the purchase.

Please feel free to contact me so that I can understand your concerns and assist you further!

Regards,
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### Selling Your Private Condo

1. **Sale Proceeds Timing**: You typically receive the CASH sale proceeds AS CASHIER ORDER on the completion date, which is the agreed date of 31 November. However, the actual disbursement may vary based on the buyer's bank processes, so it's wise to confirm this with your lawyer.CPF Refund: Any CPF funds will be refunded to your account within 2 to 3 weeks after the completion date.

2. **Buyer Backout Possibility**: Once the buyer exercises the Option to Purchase (OTP), they are generally committed to the sale. However, there may be circumstances under which they could back out, such as failing to secure financing or not meeting conditions outlined in the OTP. It's important to review the terms of the OTP to understand their obligations and any contingencies.

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