Seller Breach Otp Contract

[habib_ansari 0]

an experience to be shared.

buyer likes house.

seller and buyer agrees to sign OTP.

buyer signs off 1k+4k cheque to enforce OTP.

seller signs off OTP with agent stating 60day period to register with HDB.

*this portion has been summarised for easy reading... lol*

after numerous calls from BUYER, seller's agent says no go.

seller's agent claims seller has no cash to pay up till end of following month.

buyer says 'ok' and proceeds on legal grounds to get the flat.

OTP signed on mid 2009.

Legal matters started on early Q03/ 2009.

No cash back & No flat.

Agent is fromDWG.

Flat is somewhere in Sengkang/ Fernvale.

And yet to see a 'happily ever after...'

Sour about too many things...But life goes on, no mtter what.

Do note that shi* does happen.

I hope this doesn't happen to you.

Happy New Year to All.

May this Tiger Year bring the good guys the health, wealth and prosperity and the bad guys ... well ... let's just hope they get retribution.

[waileong 0]

Legal matters don't move so fast.... But if the seller backed out, then he will be made to compensate you for all your losses.

[usagisan 0]

an experience to be shared.

buyer likes house.

seller and buyer agrees to sign OTP.

buyer signs off 1k+4k cheque to enforce OTP.

seller signs off OTP with agent stating 60day period to register with HDB.

*this portion has been summarised for easy reading... lol*

after numerous calls from BUYER, seller's agent says no go.

seller's agent claims seller has no cash to pay up till end of following month.

buyer says 'ok' and proceeds on legal grounds to get the flat.

OTP signed on mid 2009.

Legal matters started on early Q03/ 2009.

No cash back & No flat.

Agent is fromDWG.

Flat is somewhere in Sengkang/ Fernvale.

And yet to see a 'happily ever after...'

Sour about too many things...But life goes on, no mtter what.

Do note that shi* does happen.

I hope this doesn't happen to you.

Happy New Year to All.

May this Tiger Year bring the good guys the health, wealth and prosperity and the bad guys ... well ... let's just hope they get retribution.

Sorry to hear about this situation.

What has the seller not having cash to pay up got to do with buyer? If seller wants to back out of the deal, he has to pay buyer back the deposit and buyer can claim against him for other damages.

I experienced a similar situation. However in my case seller cannot sell (didnt meet MOP) so the OTP was void and I managed to claim $$ back.

[bepgof 20]

Read & understand the OTP carefully. 100% sure u're entitled to get $5k back.

1.Seller's agent has implied duty to help get back $5k. Write a letter to Dr. Dennis Wee.

2. Go to small claim court, take time and both parties get "injured".

3. If after 1st appointment, seller back out, he sure loose. Got cases like this.

Edited February 22, 2010 by bepgof

[davidbslee 1]

Sorry to hear about this situation.

What has the seller not having cash to pay up got to do with buyer? If seller wants to back out of the deal, he has to pay buyer back the deposit and buyer can claim against him for other damages.

I experienced a similar situation. However in my case seller cannot sell (didnt meet MOP) so the OTP was void and I managed to claim $$ back.

I experienced that too when submition for OTP, PR seller didnt meet MOP and agent ask seller to give me back my 5K first. At the same time, the agent, seller and myself write a black and white saiding that we are allow to go look for other flat while seller appeal to HDB and if appeal approved, we will stick to the same COV and OTP again.

We waited for 1month and this 1month COV shoot up super high, this is how I get my low COV deal. Lucky PR seller got company prove that he is in singapore all these years working and paying tax. All due to when he went back malaysia and after he come back, he did not inform HDB he is back so HDB record show he is in malaysia. So guys, pls ask yr agent to check the MOP properly if seller is a PR. Pls dun end up like me.....

[habib_ansari 0]

@ waileong :

buyer knows of the legal implications.

seller did back out as his loan (to get a new flat) does not get approved by HDB.

seller's agent did not check this when they listed the house to sell.

@ usagisan:

no worries. i'm sorry for the buyers too.

well, if they don't have the cash, and always wanna prata, what could they have done right?

@ bepgof:

1. DWG notified. a manager responded.

big wigs rarely respond to such cases.

they said agent will be calling the buyer. and the email reply took a considerable amount of time to be replied.

also, they don't have a standard webpage, anyone realised that?

...weird.

to date, only 1 missed call from seller's agent to buyer, when the buyer was overseas for their honeymoon.

if need be,

2. small claims is no use unless you're a sg registered company. seller = bochup guy. complicated.

3. never even register, so what 1st appt? well, the risks were finecombed and thus... legal

[bepgof 20]

Get it right first .You meant seller makan the $5k? Dun want to return to buyer? So through legal means to get back this?

Or to get the seller selling the house to the buyer via leagal means, at this stage (have not submitted the resale application, only OTP signed)? If this is so, I'm sure the buyer is wasting his whatever resources.

Just fyi, once the resale application is approved (after 1st appointment) there is no way the seller "don't want to sell"- even seller has suddenly passed away during such, transaction will get through.

[habib_ansari 0]

Get it right first .You meant seller makan the $5k? Dun want to return to buyer? So through legal means to get back this?

Or to get the seller selling the house to the buyer via leagal means, at this stage (have not submitted the resale application, only OTP signed)? If this is so, I'm sure the buyer is wasting his whatever resources.

Just fyi, once the resale application is approved (after 1st appointment) there is no way the seller "don't want to sell"- even seller has suddenly passed away during such, transaction will get through.

bepgof, hmmm yeah, seller makan 5k.

don have the resources to return it.

buyer went through legal means to possess his house as it is a clear breach of contract.

lawyer mentioned buyer has 2 options:

a) to seize the flat and force OTP into action.

b) get a new flat with differences paid to buyer.

i shall not mention the buyer's decision.

also, i did not mentioned any appts, whatsoever. OTP was signed during 2nd-3rd viewing.

maybe sueh, maybe not their time or luck, but may all go well for them.

hopefully sellers like that get some retribution. hmpH~!

[sahupr 0]

Dear Members,

seller backout after 1st appointment.

As mentioned above

lawyer mentioned buyer has 2 options:

a) to seize the flat and force OTP into action.

b) get a new flat with differences paid to buyer.

In case i as a buyer would like to sue the seller any idea how long it may take to come to any conclusion.

is it 100% win? any loophole that seller can save himself once buyer sue seller.

Early advise much appreciated.

[waileong 0]

Dear Members,

seller backout after 1st appointment.

As mentioned above

lawyer mentioned buyer has 2 options:

a) to seize the flat and force OTP into action.

b) get a new flat with differences paid to buyer.

In case i as a buyer would like to sue the seller any idea how long it may take to come to any conclusion.

is it 100% win? any loophole that seller can save himself once buyer sue seller.

Early advise much appreciated.

You can't seize the flat till court order is issued. You can sue for your losses in getting a new flat.

[sahupr 0]

Thanks for the advise,

any advise on my quesion

--

is it 100% win? any loophole that seller can save himself once buyer sue seller

--

[therat 18]

i guess the best person to advise you is either HDB officer or lawyer.

If all the doc is favor to you, your percentage will be higher.

Quote from HDB

http://askhdb.hdb.gov.sg/Home/hybrid/Theme...&Selected=4

Q: I am a resale flat buyer and I have some disputes with my seller regarding the resale transaction. Can HDB enforce the terms and conditions stated in the Option to Purchase for the seller and buyer?

A:

Sellers and buyers are contractually bound to complete the sale and purchase once the Option to Purchase is exercised. If either party breaches the terms of the agreement, the other party will be entitled to enforce the terms of the Option for specific performance, damages and/or any other remedy.

If there is any dispute, the buyers and sellers may wish to consult a private solicitor on the rights and remedies in the matter.

Alternatively, the buyers and sellers may wish to consider settling the dispute through mediation at the Singapore Mediation Centre. You can call them for assistance on the procedures and charges at 6332- 4366.

[therat 18]

Another HDb quote

http://askhdb.hdb.gov.sg/Home/hybrid/Theme...RecordQuestion=

Q: Due to unforeseen circumstances, I do not wish to proceed to buy the resale flat. How do I go about doing it?

A:

Before the first appointment

Either buyer or seller may submit a written request to HDB to cancel the registered resale application.

After the first appointment

Both buyer and seller must agree to the cancellation of the resale application and submit a written request to HDB for the cancellation. This cancellation, however, does not necessarily mean the Option to Purchase becomes void.

In the case of a dispute, both parties will have to consult their own private solicitors.

[hong123 0]

an experience to be shared.

buyer likes house.

seller and buyer agrees to sign OTP.

buyer signs off 1k+4k cheque to enforce OTP.

seller signs off OTP with agent stating 60day period to register with HDB.

*this portion has been summarised for easy reading... lol*

after numerous calls from BUYER, seller's agent says no go.

seller's agent claims seller has no cash to pay up till end of following month.

buyer says 'ok' and proceeds on legal grounds to get the flat.

OTP signed on mid 2009.

Legal matters started on early Q03/ 2009.

No cash back & No flat.

Agent is fromDWG.

Flat is somewhere in Sengkang/ Fernvale.

And yet to see a 'happily ever after...'

Sour about too many things...But life goes on, no mtter what.

Do note that shi* does happen.

I hope this doesn't happen to you.

Happy New Year to All.

May this Tiger Year bring the good guys the health, wealth and prosperity and the bad guys ... well ... let's just hope they get retribution.

Hi I have leave a personal message to you..

gosh you seems like posting my story instead...Im middle of this whole hassle now...

Year of tiger..not prosperous at all!

[seek_a_home 0]

Hi I have leave a personal message to you..

gosh you seems like posting my story instead...Im middle of this whole hassle now...

Year of tiger..not prosperous at all!

I think the best option is to approach the HDB officer, show him the relevant paperwork that that been done and seek his opinion of your intent.

Technically the deal is done after 1st appt. IMO, your chances are pretty high of winning if u intend to sue. But the proceedings will take time. Never mind the lawyers' fee. Make sure the seller bear all cost of the proceedings. Check with your lawyer if this is possible if u win the case.

If the agent make unethical approach to help the seller, u can sue him for not acting in good faith also.

If HDB can validate your claim, write to ST forum and tell your story. Make sure DWG execute the transaction for you FOC.