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Hi,

What if I (vendor/ seller) want to cancel the deal?
I only signed the document for giving permission to proceed with state consent approval.

Till now I did not sign S & P and give the original geran.
The deposit of 10% (RM 10k) already received.
What consequences and cost that I should bear for the seller's lawyer?
Did the seller able to sue me or ask me to pay back double of the deposit amount?
I do not have any lawyer.
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1 Answer

<en>David</en> <en>Wong Lai Kwong</en>
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Hello,
Without reviewing the contract that you have signed and accepting the 10% down payment it is difficult to provide you with an advise or opinion.
I presume that you mean the buyer's lawyer as you have did not hire a lawyer. The buyer may take a legal recourse to caveat your property to compel you to sell to him/her as you may have committed to sell the property but now not proceeding to sign the SPA. Alternatively, the buyer may request for monetary compensation for lost of purchasing opportunity etc. and the monetary compensation may not be limited to double of the deposit amount unless clearly stated in the contract.
The sale contract will only lapse if the application for state consent is rejected for whatever reasons. Read More
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