skyy 0 Report post Posted December 31, 2007 Hi,Heard from my agent that i need to pay him $80 bucks for the submission of the resale application and $100plus for the valuation report for the house.I thought valuation report should be paid by the seller?Please advice!Thanks! Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted December 31, 2007 Its true; in your case probably the seller did the do the valuation and you got to do it lor.Sometime sellers pay valuation first to know how to price their flats properly. But ultimately the valuation rept is used by the buyer for loan application mah, so you have to pay lor.This is a requirement for all loans relating to HDB flats, whether HDB or bank loan.Unless you don't take loan at all and pay cash (no cpf involved), then no need to do valuation lor. Share this post Link to post Share on other sites
Zc31 0 Report post Posted December 31, 2007 It's $80 for submission and $170.50 for valuation report.Some agents quote $180.50 for valuation to "earn" $10 bcox most of the time online submission has discount of $10, which most agent does. Share this post Link to post Share on other sites
raincole 0 Report post Posted December 31, 2007 It is the same with the submission. I know if the agent do it online or via their company, it is only $60. So the extra $20 is must must pay to their pocket. Share this post Link to post Share on other sites
applefreak 1 Report post Posted December 31, 2007 $80 for submission might as well do it yourself Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted December 31, 2007 :jawdrop: $80 for submission :jawdrop:might as well do it yourselfErm, do it yourself also $80 leh. If u got a good agent who honestly use ResaleNet, then $60, cheaper...Or find a desperate agent to pay for you lor... Share this post Link to post Share on other sites
raincole 0 Report post Posted December 31, 2007 Zirhk, they have to use resalenet but still charge you $80.For the valuation, you can ask the seller to show receipt of proof and then paid the amount if done online or offline. Share this post Link to post Share on other sites
waileong 0 Report post Posted December 31, 2007 Everything is negotiable. However, there are certain "norms" within the industry which are assumed to be accepted by everyone unless specifically stated otherwise.Buyer pay for the valuation is the norm. The rationale is that you need the report to borrow from bank, hence it is your job to pay for it. If you want to negotiate for seller to pay, you must state when making the offer. Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted December 31, 2007 (edited) Zirhk, they have to use resalenet but still charge you $80.For the valuation, you can ask the seller to show receipt of proof and then paid the amount if done online or offline.Ya I know, talking about some *rare* honest agents lor...Sometimes duno whether to be angry or to pity these agents; few tens of dollars also want to earn. I have known of some (but really rare one lor) who will even pay all these small fees; you just need to pay their comm. Edited December 31, 2007 by zirhk3355 Share this post Link to post Share on other sites
raincole 0 Report post Posted December 31, 2007 Ya I know, talking about some *rare* honest agents lor...Sometimes duno whether to be angry or to pity these agents; few tens of dollars also want to earn. I have known of some (but really rare one lor) who will even pay all these small fees; you just need to pay their comm.Yar. I didn't know we have to pay these fee as these came up only after we signed the OTP, else will negotiate with the agent. Somehow I tot agent fee covers all admin fee and services Somemore my comission a lot ler. Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted December 31, 2007 Yar. I didn't know we have to pay these fee as these came up only after we signed the OTP, else will negotiate with the agent. Somehow I tot agent fee covers all admin fee and services Somemore my comission a lot ler.I am not surprised if got some agents also tell the clients to pay for their advertising fees... Share this post Link to post Share on other sites
waileong 0 Report post Posted December 31, 2007 Everything is negotiable, everything is in black and white when you sign the agreement to appoint the agent. If it states you have to pay, you pay. If it doesn't, you don't need to pay.If you don't read the agreement, or don't eforce it, too bad. Share this post Link to post Share on other sites
raincole 0 Report post Posted January 1, 2008 Everything is negotiable, everything is in black and white when you sign the agreement to appoint the agent. If it states you have to pay, you pay. If it doesn't, you don't need to pay.If you don't read the agreement, or don't eforce it, too bad.The agreement is usually the company template, which only state the comission part. I did ask what does the comission consist of but noone is able to give me a reply. To me, their commision is like we are paying them for their time but other expenses not included and subject to agent discretion.Therefore I do hope there is a better guideline in place in the estate market. Share this post Link to post Share on other sites
waileong 0 Report post Posted January 1, 2008 There is nothing to "consist" of. If the agreement did not say you are to pay the advertising charges, why do you pay? Share this post Link to post Share on other sites
raragal 0 Report post Posted January 1, 2008 wah... I paid $80 + $180 also leh... Mmm.... Share this post Link to post Share on other sites
