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Buyer has issued the earnest deposit (2%) to the property agent, but buyer only signed the SPA after the 21 days term, and did not pay the rest of the (8%) deposit. My lawyer told me the buyer should issue the 8% deposit balance before I (seller) sign the SPA.

At the moment the buyer seems to be playing delay tactics when my lawyer ask for the 8% deposit, and still did not issue any payment. I am thinking to terminate the sale. Will I able to keep the earnest deposit, if I (the seller) cancel the sale?
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2 Answers

Bernard Tay
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Hello, I'm Bernard here... a property negotiator.
I will be appreciated if you can let me and my team to serve you.
please Whatsapp me at H/P: 016-5886161  - I will contact you asap. Thank you. Read More
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Santorinic Wang
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Ask lawyer advised Read More
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  • W&
    Replied
    Hi Santorinic & the questioner, you have to refer to the booking form for the information. It is common for the balance of 8% to be paid together while signing the SPA or within a certain period, etc 14 days after signing the SPA.

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