Hi all, my neighbour is buying a flat at hougang. Now the seller is backing out. OTP signed, deposit paid, bank loan approved just waiting for the 1st appt. Anyone knows what rights does a buyer has in this case? Thanks.
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Hi all, my neighbour is buying a flat at hougang. Now the seller is backing out. OTP signed, deposit paid, bank loan approved just waiting for the 1st appt. Anyone knows what rights does a buyer has in this case? Thanks.
Dear Cookies
this is what your friend can do
1) He can sue the seller by engaging a lawyer which is tedious
2) He can negotiate with the seller for compensation and the return of the deposit.
However, HDB board will not assist in such matters so the matter is purely in the hand of the buyer and seller.