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Inheritance and Legacy Planning

Asked by Trex 9 Oct 2011

If I have already accept the 1% cheque and signed the otp, what penalty do I face if I decided not to sell? (for private property)

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Mike Lim · Answer 1 · 2011-10-09T16:12:10+08:00

Mike Lim

Replied 9 Oct 2011

Afternoon,

When seller issues an Option to the buyer, in exchange of 1% Option fee, the seller is not eligible to back out, unless mutual agreement has being worked out with you and the buyer.
However, if your buyer choose to exercise within the Option period, you will be required to follow through with the contract. Failing to do so, the buyer have all the rights to bring legal actions against you.

FYI.
Mike Lim
96929209
ERA Read More

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Catherine PANG · Answer 2 · 2011-10-09T22:38:45+08:00

Catherine PANG

Replied 9 Oct 2011

Most agents have an answer. check with your lawyer. www.catherinepang.com Read More

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