Can Buyer Cancel Sale

[Jason1977 0]

Hi All,

Asking for a friend of mine,

Can a buyer back out of a deal if he does not find the house good enough as initially many stuff at Appt so can't see properly.

He pay 1% fee by cheque and did not sign OTP (OTP sign by seller)

Next day he find the house not good and he cancel the check payment by bank.

Now Seller asking him to pay him 1% fee and if he not pay he will take legal action.

How much Buyer is bound to pay 1% fee as the very next day he cancel the deal, so much before 14 days.

Do share any Feedback.

[therat 18]

1% as seller already pass him the OTP.

If the buyer didn't exercise the OTP , 1% will be gone.

Seller take

Seller has the right to take legal action.

Buyer no ground.

[forgotten 1]

Yes, Seller is able to take legal action to claim the 1% that he supposes to keep even if buyer backs out of the OTP.