lauahkua 0 Report post Posted March 15, 2008 If the transaction is submitted online via ResaleNet or e-Resale, the hardcopy OTP does not need to be handed over to HDB until the 1st appt. Thus you can still get the 1st appt date but it will be revoked if the OTP is not in order.This is what worries me in this case; is the OTP signed by ALL owners of the flat or not? If not, then the daughter may declare that her father had acted on his own, she had not consented to sell the flat and refuse to sign the OTP at all. Thus OTP may be declared invalid and the only recourse is to sue the father.Thanks zirhk3355, that's the thing lor! the agent din check it was ourselves that found out that there were 2 owners when we did a property tax search.I'm very sure the daughter is greedy lah. She kept buying time hoping that we give in and pay her more $. Where got such things one?Very stressful leh, my son and daughter are looking forward to shift there soon so that they dun have to travel so far to get to sch everyday. Share this post Link to post Share on other sites
BunBun 5 Report post Posted March 15, 2008 (edited) Your case 'lagi best' than my experience with this indian family the last time we were looking at resale flat when we were house hunting. The valuation price was about 180plus and asking COV was about 15-20k if i remember. This was around last year. Had viewed several units and the price range was more or less there cos low floor units. This particular unit was in poor condition.. ie; no renovation or any thing done. Have cracked kitchen tiles & basically needed an overhaul. So we asked our agent to ask the owner if can lower COV by a few k due to all those factors. Just when we were interested, the seller suddenly decided to hold it off claiming that he wanted to get a 2nd valuation report (partly i think was due to GST increment of 5% to 7% in July then so sure bound to have alot of buyers wanting to buy property before that july)Naturally I was bemused by the whole thing & I doubt that the seller would be able to get a higher COV & valuation price based on the unit's condition. Frankly if the seller wanted to sell us the unit now, I doubt so 'cos also not worth dealing with sellers who are suddenly on a yo-yo streak Edited March 15, 2008 by BunBun Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted March 15, 2008 Thanks zirhk3355, that's the thing lor! the agent din check it was ourselves that found out that there were 2 owners when we did a property tax search.I'm very sure the daughter is greedy lah. She kept buying time hoping that we give in and pay her more $. Where got such things one?Very stressful leh, my son and daughter are looking forward to shift there soon so that they dun have to travel so far to get to sch everyday.Oh yes, now that you mention this, do check with your lawyer if you have a case against the agent for failing in his duty of care.As far as I understand, agents own a fiduciary duty to paying clients, ie because you are their paymaster, they naturally (and legally) have to act in your best interests. So in cases like if the agent take undertable money or involved themselves in scams, then you can outrightly file a lawsuit against them.However, this is more of a case of negligence where the agent has "forgotten" to check the sellers properly, thus resulting in the bust transaction and incurring losses for you. You might want to see if you could recover some money from the agent if your case against the father falls thru.I must qualify, I am not on a "suing" streak trying to get everyone into trouble, but someone has to be accountable for the unnecessary losses, not forgetting inconvenience, lost opportunities, disappointment of your children, etc which are untangible. It is totally unfair for you to incur losses when its of no fault of yours. Share this post Link to post Share on other sites
delirious_jeff 0 Report post Posted March 15, 2008 Thanks zirhk3355, that's the thing lor! the agent din check it was ourselves that found out that there were 2 owners when we did a property tax search.I'm very sure the daughter is greedy lah. She kept buying time hoping that we give in and pay her more $. Where got such things one?Very stressful leh, my son and daughter are looking forward to shift there soon so that they dun have to travel so far to get to sch everyday.These are the cases that makes you wonder if we really need housing agents in buying and selling of HDB flats. As zirhk3355, considering suing the agents. Their negligence is the root of your problems. If all the owners of the unit has signed the OTP, I think they would not dare to delay the transaction.The seller should understand that the property market has already peaked and is just starting to show signs that prices shall soon fall. Share this post Link to post Share on other sites
gohkm 1 Report post Posted March 16, 2008 Thanks zirhk3355, that's the thing lor! the agent din check it was ourselves that found out that there were 2 owners when we did a property tax search.I'm very sure the daughter is greedy lah. She kept buying time hoping that we give in and pay her more $. Where got such things one?Very stressful leh, my son and daughter are looking forward to shift there soon so that they dun have to travel so far to get to sch everyday.I tell your case to my wife..........her first reply is........."did both the father and her daughter sign the OTP?"...if the daughter never sign...........the agent should bring down the OTP to let the daughter sign on that day to make it safe...Buying a clementi flat wont be easy............if it seems too easy...u must be careful.....u must ask yourself, it cannot be so simple.........i got my 5 room clementi last year...........with many behind the scene adventures..........but after u got it...........its another story........clementi seems to be getting more crowded........must bo pian.......staying here is more for the kids cos there are many good schools and uni around..........i heard the olympics village also be here, dont true anot.....i wish u well in yr case..................happy weekends.......... Share this post Link to post Share on other sites
lauahkua 0 Report post Posted March 17, 2008 zirhk3355 and delirious_jeff, thanks for your help,I'm also suing the agent like what you suggest. gohkm, only the father signed that's why now so much problem. The agent din even make sure that all parties sign. He din even know the hse got 2 owners till we found out ourself. Actually I dun like clementi but have to because of my daughter's uni and my son's high sch are there. I love my current place for its rustic and kampong feel but for my children's sake no choice. Currently my old man got to send my son to clementi from sembawang every morning for sch then come back home as it is too early to go to office. Then got to pick him up after sch coz from his sch no bus to come back to my place. Take MRT also not convenient as my place very ulu, no bus from MRT station comes here.Moreover clementi flats very xpensive. Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted March 17, 2008 These are the cases that makes you wonder if we really need housing agents in buying and selling of HDB flats. As zirhk3355, considering suing the agents. Their negligence is the root of your problems. If all the owners of the unit has signed the OTP, I think they would not dare to delay the transaction.The seller should understand that the property market has already peaked and is just starting to show signs that prices shall soon fall.There are many reasons why the sellers decide to back out - perhaps its precisely because of the high prices and they can't find a new place to stay, thus they decided not to sell? That was what almost happened to me, but luckily the owners only decided to back out after 1st appt where everything was in order. I reminded them of their liability if I were to sue them, so they bo pianz went ahead with the deal.lauahkua, my suggestion is to work closely with the lawyer now until the deal is over; update him/her with all the facts so that he can give the most accurate advice on who to go after. Both the agent and the father should be liable for this, in my opinion... Share this post Link to post Share on other sites
lauahkua 0 Report post Posted March 17, 2008 Thanks zirhk3355, it's nice to know you are here 4 me. I appreciate it a lot. The only reason they backed out is because of greed, as they are all staying in Australia I see no reason why should they leave the hse empty!My lawyer sent them a letter of demand last week.Btw, it that your bb in the tub? Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted March 17, 2008 Thanks zirhk3355, it's nice to know you are here 4 me. I appreciate it a lot. The only reason they backed out is because of greed, as they are all staying in Australia I see no reason why should they leave the hse empty!My lawyer sent them a letter of demand last week.Btw, it that your bb in the tub?Well I dun really know what happen between the daughter, father and the agent so can't comment on that. In any case, the daughter could say that she had never intended to sell in the first place, her father acted on his own; but if must sell, she wants it to be sold at least for xxx amount.If this is their argument and they have a lawyer on their side as well, then there is no use for your lawyer's letter of demand at all because there was no agreement in the first place! And all these nonsense, because of a bardy agent...haiz... Hehe...oh ya, about the pic, its not my bb lah, its just a pic I downloaded from the net... Share this post Link to post Share on other sites
ahjane 2 Report post Posted March 26, 2008 hi everyone, just to share. My fren had an unhappy incident as she was late in taking over the flat she bought. The seller not to happy cos the money transfer will be delayed or something. Guess what, they flush undies in the toilet drainage system. One week after moving in....the toilet flooded!! It is blessing if buyer can be in good terms with the sellers cos we never know what he does to the house that he so unwilling to sell it to you. Especially stuff that are not visible (for example painting the ceiling black is not possible). It scary to think about it.it is unfortunate that lauahkua met such a seller. I think if u really suceed in buying the house, do change all piping, wiring and lock your letterbox. or instal a small tiny cctv outside the house?? Cos the lady so vicious, even track to where u stay and come all the way. so scary... Share this post Link to post Share on other sites
sepultura 0 Report post Posted May 7, 2008 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. Your best bet is to ask your lawyer. You do have a good one, don't you? I'd deal without an agent but never without the lawyers. Share this post Link to post Share on other sites
coffee - kohi 0 Report post Posted May 7, 2008 Extracted from HDB: Upon exercising the Option, a binding contract is entered into between the seller and the buyer for the sale and purchase of the flat. The Option to Purchase is a legal contract and it is a prescribed form under the Housing & Development Act. The Act provides that any contract which is made in any form other than in the prescribed form or with additions/deletion/variations to the form that are unauthorised by the Board, shall be null and void. I believe you can sue the owner (which might cost a lot of money) or ask the owner to pay you some compensation and return you all the money you have paid. Share this post Link to post Share on other sites
raincole 0 Report post Posted May 7, 2008 Ya. Except not all the seller has signed the contract, so makes it invalid for a binding contract. Share this post Link to post Share on other sites
Junkay 1 Report post Posted May 7, 2008 firstly, this is called indian poker. you really got poked in the bum boy. as the lady said, they all waiting for the money. Pity the parents. secondly, agent must pay for all inconveniences and future losses if the price you pay is higher. You deal with him he is your agent too, cos you are paying him commission what. Indian poker the agent I say! Share this post Link to post Share on other sites
chronograph 0 Report post Posted May 8, 2008 You have got a screwed up agent! The OTP needs all owners signature to stand as a valid binding contract! Your agent failed to verify this, you should have a case against your agent! You also have a screwed up lawyer! Your lawyer should validate the OTP before giving you any advice but instead went ahead to send the letter of demand! Since the OTP is void, you might not have a case against the seller! Check with your lawyer! HDB officer also screwed up! They have the detail information of ownership of a property. Before registration, can't they verified that all signature have been signed? Good luck man! Hope everything will be ok for you! Share this post Link to post Share on other sites
