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发表于 11-10-2019 10:10:36|来自:新加坡
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An Option to Purchase (OTP) is a valid and binding legal contract in written form, entered into between a buyer and seller of a residential property. The OTP gives the buyers the exclusive rights to purchase at a fixed price, within a fixed period of time (usually 2-3 weeks). Usually, the sellers of a property may not back out of an OTP agreement and refuse to sell once the OTP is signed, while the buyers may do so. In exchange, the prospective buyers are required to put down a 1% deposit, known as the option fee, which they will forfeit to the sellers if they choose to withdraw for the deal. Hence, both parties are advised to consider carefully before coming to an OTP |
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