Buyers Cheque Bounced!

[richman 0]

Eh.. There is no need to wait for OTP to expire. The OTP, from day the chq bounce, is not valid.

This is not a case of failure to exercise OTP. The OTP was never procured in the first place.

Think of this logic.

Seller GIVE buyer OTP in exchange for a Option Fee. This is a simple transection. Pay $ for exclusive OTP period. Since no $, then no option period in the first place. There is legally no need for the buyer to sign an OTP. OTP is a document only the seller sign.

If OTP expire than cham for the seller liao. Have them exercise the OTP immediately and submit to HDB liao..mai tu liao...think your agent also not good.....didn't advice u properly.

[yoongf 11]

If OTP expire than cham for the seller liao.

What difference is there before and after OTP expire? There is nothing to forfeit in the first place.

[richman 0]

What difference is there before and after OTP expire? There is nothing to forfeit in the first place.

The amount for the option. But in this case, the buyer give a bounched chq if I remember correctly.