usagisan 0 Report post Posted February 21, 2010 Poor u, to meet such a irresponsible seller. I hope HDB will approve the appeal soon! Besides MOP, we should get our agent to check the seller's Bankruptcy status too. OTPs typically state 30 days for submission. To buyers who are unfortuately in a similar situation as ours, read your OTP in detail to see if there is any clause that will help you. Coz when we did that, we then realised that as at option date, if the seller fails to meet MOP & thus can't sell, the OTP is null & void and we can get back our deposit and claim for damages/compensation against the seller. As we are already so upset with the situation, we decided to give up on the flat and therefore invoked the clause to end the case. However if you still want the flat and willing to wait, you have to re-sign a new OTP upon successful appeal by seller. Now we have created a checklist for our next purchase: 1) MOP 2) Bankruptcy 3) No of days for submission 4) Cheque number for option deposit & exercise option deposit 5) Witness' detail on OTP (coz mine only had buyer's witness) 6) Take back buyer's copy of OTP upon signing option. When it's time to exercise option, then bring it along to sign in seller's presence. 7) Make copy of both cheques and get seller to acknowledge receipt of it Anything I missed out? Share this post Link to post Share on other sites
rawmeat 0 Report post Posted March 17, 2010 i'm quite shock to learn how ungoverned the agents are and how they can get away with their crimes without any punishment as there are no goverance at all.... click a few buttons, get 1% comission from sellers.... if sellers refuse to commit to commission, then house is not available for sale... this had got to stop... Share this post Link to post Share on other sites
