JT36

Thanks a bunch for all the kind advice. No I did not sign any OTP. My agent held the cheque because the other agent requested him to do so. Apparently this in turn was a request of the buyer. I have fallen out with my agent as he did not inform me he was holding the cheque and I also felt he did not advise me appropriately. I found out from HDB that I should have collected the cheque directly from the buyer in the presence of both agents. I had the idea that my flat was confirmed sold so I turned away some viewing requests. Bepgof Other than the cheque, I have no documentary proof so I don't know if I have a case at the small claims court. The buyer claimed he did not expect the cheque to bounce since the agents agreed to on-hold it so he withdrew the money when he had second thoughts about my unit. He also claimed he had difficulty contacting the agent about this.

Hi I need advice on this. I have a potential buyer for my 5-room flat who verbally confirmed to my agent that he wanted to buy my flat. The option money of $1000 in cheque was then handed to my agent who held it for 1 week before passing it to me last week. However the cheque bounced last week and when contacted, the buyer now says that he no longer wants my unit. As I had already held my flat for him for 2 weeks, can he simply back out without having to pay me any penalty? Thanks in advance to anyone who can advise me.