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Hi, my HDB flat buyer had post phoned 2x 2nd appt and now their agent informed me that they wanted to abort the transaction. I was told by my colleague that I could request for a compensation like 10% of the sale price. Is that true? Is it a standard 10%? I would like to know what is the amount I can request for as their agent told me to meet them and nego then sign a letter not to have legal claim against the buyer. They have given me a lot of problem during this while, with lots of request and I have always give in to them... I'm not selling anymore, I have rented a place thinking the the 1st completion which was 1st Dec... now my deposit is gone too. Hope the expert can answer my question here. Thank you.
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1 Answer

Mike Lim
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Evening Eileen,

Why don't you get your salesperson to assist you in the negotiation? He would be the better person to advise as he have went through the whole process with you.
You can not only request for compensation on the delay of completion, you can also request your buyer/s to perform the transaction as per stated in the OTP. There are also a lot of legal clauses which you can use in your favour but if sign the agreement with them, then it would be a different case.

All the best

Regards
Mike Lim
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