Liability for the rescission from Buyer

Hong Kong Property  2014-12-07  1K #Hong Kong Property
Mr. Huang and his wife recently actively looking in the market for flat units for their respective go flat inspection, the last one in the Air Huang two-bedroom units, as he considered to be very desirable, it was decided to drop the first set, but the yellow too, but then flat inspection not satisfied with the unit that the unit price is too high, plan rescinded, they do not know if the "rescission", in addition to the loss of the deposit, there is no risk or responsibility to bear?

General Provisional Agreement ("Pro Testament") within the prescribed both seller and buyer regret about regret about the consequences. Buyers can before the signing of the formal agreement, according to the buyer within the Pro about regret about the terms of treatment, are prescribed in general terms, if the buyer fails to fulfill the terms of the completion of the sale of the Pro about the owner of the temporary deposit paid by the buyer forfeited and the right to re-sell the property to others, then the owner can not be held again buyers any liability or mandatory performance of the contract, the buyer immediately rescinded.

If the buyer after the signing of the formal agreement rescinded, not to complete the transaction, the buyer in addition to the loss of the deposit, the owner will be ordered to pay the owners of the losses incurred on the buyer's regret about the behavior, including property re-sold to others the difference between the sale in order to recover losses while the owners need to take appropriate action to minimize his losses (such as resale prices in order to obtain a reasonable resale); or the owner can choose to apply to the court to force the buyer to fulfill terms of the contract transactions.

In addition, if deleted Provisional Agreement, generally indicate regret about the buyer and the seller regret about the rescission or pay order terms, the so-called "must buy will sell", even if only the buyer and seller signed the provisional agreement signed but not thereafter formal agreement, the two sides have the responsibility to complete the property transaction can not set or set to cancel the transaction through pay tart.
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