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Hi, technically you can't back out at the present moment. But you could always seek the help and assistance of your servicing agent.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More

Dear seller,

The moment you have granted the Option To Purchase, it will be legal binding on your end to sell this property to this buyer who have made the offer until this Option To Purchase expires (should the buyer decided not to exercise the Option To Purchase). Like what Aaron has mentioned, the only way to back out from this transaction is to get mutual agreement with your buyer.

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Hi,

Legally, whether to complete the transaction now all depends on the buyers, that is the purpose of issuing the Option to Purchase. If you decide to back out now, they do have the right to sue. You may like to check with your servicing agent to find out if a solution can be arrived at for all parties. Thanks and hope it helps.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Afternoon,

As seller, once you have inked the OTP, you are not eligible to withdraw from the contract unless your buyers do not exercise it. Legally, your buyers do have be right to exercise the OTP without your consent. Once that have being executed, both of you are required to submit the case to HDB. If you do default, they have all the legal rights to sue you for compensation. It would be prudent to talk to your agent and try to work out on the details.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More