Urgent Please Help!

[lauahkua 0]

Hi all, my seller now backing out. OTP signed, deposit paid, bank loan approved waiting for 1st appt on 4/2/08. Now that idiot wants to back out. Anyone here knows what's our rights as a buyer? Thanks.

[jusnel 0]

Hi all, my seller now backing out. OTP signed, deposit paid, bank loan approved waiting for 1st appt on 4/2/08. Now that idiot wants to back out. Anyone here knows what's our rights as a buyer? Thanks.

if u do nothing wrong to cause the seller to back out, then u can ask for alot of $$ from seller.......

rental fees that you are without a flat (the period from now until you find another suitable flat)

the price difference between this flat and another flat that you could be buying

your deposit

your bank penalties/admin fees

basically, u have the control over this.... so u can say whatever u want and ask for whatever you want.

[waileong 0]

This is why you engage lawyers for property transactions.

[lauahkua 0]

I don't have a housing agent, it's the seller's agent I'm dealing with coz i just flip the papers, saw his ad, went for viewing then bought the flat the next day. Now the seller's daughter is claiming that the agent sold the flat at a low price so she's not happy. I don't think I did anything wrong to cause the seller to back out. Can they back out based on the fact that they thought the selling price was too low?

Then why in the first place the owner agree to sell? Anyone have this kind of experience here? Thanks jusnel and waileong for your help.

[jusnel 0]

I don't have a housing agent, it's the seller's agent I'm dealing with coz i just flip the papers, saw his ad, went for viewing then bought the flat the next day. Now the seller's daughter is claiming that the agent sold the flat at a low price so she's not happy. I don't think I did anything wrong to cause the seller to back out. Can they back out based on the fact that they thought the selling price was too low?

Then why in the first place the owner agree to sell? Anyone have this kind of experience here? Thanks jusnel and waileong for your help.

what did the seller agent say? i'm sure he's more kan cheong than you coz of his commission and he may kena complained by you or seller.

basically u got the upper hand, and u can state yr terms to the seller. and basic rule: dun be nice to seller or agent.

u must stand on yr terms very firm. if agent is willing to help, then give him some leeway. if the agent is those 'heck care' attitude, then give him the hardest time of his life

you can bring an agent friend to help you to nego.

the biggest compensation that u can ask for is to pay for the price difference between this flat and the next flat u have to buy. this one, u can just choose another flat, price can be alot higher and the difference will be paid by this seller

example; this flat u supposed to buy at 400k. then u got to look for another flat and u came across one at 450k. the 50k will have to paid by this seller.

of course, the new flat got to be the same size of this flat la.... dun be so nasty to purposely buy bigger size flat.

another compensation is the rental that u can charge the seller for having without a flat, while you are hunting for another flat (follow market rate)

if the seller is really not happy, then tell her to complain to the agent company abt this agent lah. this will make the agent very kan cheong. then at the same time u tell the agent to solve this to your favour, so that he wont kena complain.

u got to play psychology to both sides

[sino_74 0]

Hi all, my seller now backing out. OTP signed, deposit paid, bank loan approved waiting for 1st appt on 4/2/08. Now that idiot wants to back out. Anyone here knows what's our rights as a buyer? Thanks.

U can refer to e fine-print of e OTP signed.

My best advice is for u to seek a HDB officer for further procedure n action that u can proceed with...

Edited February 7, 2008 by sino_74

[delirious_jeff 0]

I remember seeing a large photocopy new article when I was visiting the HDB office. I says that HDB shall not act as a mediator between the seller and buyer to settle disputes.

You may choose to settle dispute through mediation at the Singapore Mediation Centre. http://askhdb.hdb.gov.sg/faq_selected.asp?...934,27992,27998

Since you have the buyer's copy of the OTP, I think you should consult a lawyer on what your options are.

[lauahkua 0]

Thanks folks for you time and help! I've checked with HDB and they said they bo-chap. Their job only process the sale, nothing more.

Now can only wait and see till 1st appt on 4/3/08.

[GoalHome 1]

I've heard of a similar case from someone working in the bank that the buyer sued the seller and was compensated 20k.

[delirious_jeff 0]

Thanks folks for you time and help! I've checked with HDB and they said they bo-chap. Their job only process the sale, nothing more.

Now can only wait and see till 1st appt on 4/3/08.

I think you have to prepare yourself for the worst, which could be that the seller simply do not turn up for the 1st appointment or do not provide HDB with the necessary documents to process the resale transaction. HDB can reject or cancel the resale application/transaction if either party do not turn up for the 1st appointment. What then?

I think the agent should do more. I guess most agents, like HDB, only help to complete the resale transaction.

[yokine9a 1]

I don't think HDB will step in since it did not assign its lawyer to act on your behalf. When you gotten your bank loan, you should be given a lawyer to act on your behalf, as this is a must according to the bank's rule. Approach your lawyer to take necessary legal action on the seller. You definitely can get some compensations since the seller has signed the OTP form.

[lauahkua 0]

Thanks yokine9a,

The agent just called to remind us of the 1st appt date 2 days ago, didn't say anything else so I hope everything is fine.

Less than 2 wks away from the 1st appt, will update you guys again. Meantime any of you have good contractor to recommend? Need major overhaul for this totally run down 30 years old flat. Thanks.

[lauahkua 0]

Hey brothers ! I got problem liao leh. Today 1st appt but seller's daughter whom is the 2nd owner refuse to sign. She wants to up another 30k, insisting that the price was too low. How can right coz the father already signed and we have paid the option fee and deposit liao. What's your opinion guys? Can claim damages from them right? Thanks brothers!

[raincole 0]

Like that har, better asks her to give you the other 30k for backing out of this sale.

All black & white and law is law.

[GoalHome 1]

Think the owner and his daughter are putting up a show in the hope of fleecing more money from you.

If you're using bank loan, chances are you can use the same lawyer to sue them. Tell them directly that you'll be proceeding for legal actions. Most of the time, these people will kuai kuai toe the line upon receiving the lawyer's letter and realising that you mean business.

Btw, what did the HDB officer say when the 2nd seller refuses to sign???

Hey brothers ! I got problem liao leh. Today 1st appt but seller's daughter whom is the 2nd owner refuse to sign. She wants to up another 30k, insisting that the price was too low. How can right coz the father already signed and we have paid the option fee and deposit liao. What's your opinion guys? Can claim damages from them right? Thanks brothers!