hi deb,
yeah once both parties signed the OTP, both cant back out anymore.
for me, my hubby and i signed OTP with the seller (husband). but the wife didnt sign and so even though we gave them cheque already, they can still say no.
actually the seller's agent told us tt the sellers and them have signed contract tt if the seller's agent can help them to sell at a certain price, the sellers have no choice but to sell. but in e end, we agree to e price, but seller (wife) dun wan to sell, their agent also never do anything to them lor.