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Hi,

HDB buyers usually do not back out of transactions though it has happened before. When such a case happens, it would be up to the seller to decide if they want to pursue the issue through lawful means. However, the seller would have to weigh his pros and cons to determine if its worth the trouble, time and money.

However, if a seller did not manage to sell his flat and already went ahead to buy a new one, he has est 6 mths to sell it. If its a case of contra, there is an option of getting a bridging loan from the bank. Seller can try to claim damages from buyer via legal means but there is no guarantee.

Regards,

Ken Tan
 96461490 
ken_tankw@yahoo.com.sg Read More

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