clockwork 0 Report post Posted November 25, 2008 (edited) I saw this flat which me & hubby really liked. Although it was in REALLY bad , cialat condition , but we still wanted it. After meeting with the agent and seller , the agent said that the seller is selling at below valuation , coz it's a negative sale. And they have to move out at a specific date or HDB will reposses their house. Seller can't even afford to pay the agent commision and the COV agent is asking is just to cover his commission fees. We were aggreable to that. The agent wants us to pay $1000 1st , to show that we are sincere buyers , again we were agreable. OTP was already signed and when my agent went over to have the sellers sign the OTP , the agent said he wants us to do the valuation report !! Normally after we sign OTP and both parties agreed to the sale then we pay them valuation fees , but this agent wants us to pay 1st !! My agent was like WHAT !! How can you ask us to pay 1st ? What if the valuation is way above our budget ? He already gave us a quote of $3xxx,xxx , and gave his word he stick to that price . We thought he alreday submited the valuation request but apprently he didn't. Was waiting for buyer to pay. My agent wanted to see prove , to see if he was lying. So true enough , he did show papers to indicate that the sellers MUST move out in 3 weeks time and they own HDB $60,000. But sellers are broke , no $$ to pay valuation and the agent refuse to fork out $$ !! Like that how to sell flat !! Idiot !! Wahlan !! What if I pay for them the valuation , and it's way above our budget ? My agent told him, regardless of who don't want to pay , still MUST have valuation report , if not how to sell ! WHAT AN IDIOT ! So now my agent have to chase him to do valuation report and we have to wait for the result which is in around 2 weeks time !! I'm so angry , I finally found the flat that I wanted and have this kinda stupin agent and seller. We're just keeping our fingers crossed , and in the meantime , my agents are still looking for other flats for us. But It won't be the same , coz we REALLy wanted that flat. Hope the valuation is lower then expected , whawha hahahahha Edited November 25, 2008 by clockwork Share this post Link to post Share on other sites
pinkpetter 0 Report post Posted November 25, 2008 Huh.. clockwork.. liddat I will be scared you not scared? The sellers seem like so hardup then wait got Loanshark problem how???? You got check all the staircase landings in the block? Now ah... you must make sure le... when the seller move make sure the agent see that the seller change his address. Wait he use old address go and borrow money!! Share this post Link to post Share on other sites
clockwork 0 Report post Posted November 25, 2008 Huh.. clockwork.. liddat I will be scared you not scared? The sellers seem like so hardup then wait got Loanshark problem how???? You got check all the staircase landings in the block? Now ah... you must make sure le... when the seller move make sure the agent see that the seller change his address. Wait he use old address go and borrow money!! Yeh man , didn't thought of that !! But so far staircase landing , lift and walls , no freshly painted walls !! Sigh !! Thanks for reminding me Share this post Link to post Share on other sites
pinkpetter 0 Report post Posted November 25, 2008 ya! i think the best will be to make the seller change liao show you then give commission... since you're paying to cover his commission then you give some conditions ba. Good luck ok! be careful!!! Share this post Link to post Share on other sites
CutePinkElephant 0 Report post Posted November 25, 2008 means u pay 1k before see the valuation report?like thathor...if u wait them to make a val report and the seller drag drag in the end more than 2 weeks already ur 1k will gone or not hor? because usually otp only valid for 2weeks if not wrong and if no news from u means u dont want that house anymore and ur 1k means belong to seller already rite? just afradi the seller and agent cheat u Share this post Link to post Share on other sites
pinkpetter 0 Report post Posted November 25, 2008 That sound even more worrying... Share this post Link to post Share on other sites
poseidon_gal 0 Report post Posted November 25, 2008 not sure i am right or wrong. Seller do not need valuation report to sell his unit. It is the buyer than need the valuation report to get his loan approve. So even if the seller did the valuation report, you still need to buy the report over from him unless he gave it to you out of goodwill. So if you want to apply for loan, regardless of HDB or bank loan, you need to do valuation report. And i dont think u need to show it to the seller coz it got nothing to do with him. Except he need to open his house and let ppl come in to take photos. I am sure ur agent know about this..unless u kena a newbie that dont know anything. Share this post Link to post Share on other sites
pinkpetter 0 Report post Posted November 25, 2008 heh I think clockwork knows that she has to pay for the valuation wor. She did mention... the only thing here is that the agent said the flat was going for BELOW valuation.. but if haven't do valuation how they know it is below le?! that was one of the thing that struck me ba. it's like delivering half the truth only. Share this post Link to post Share on other sites
EL23 0 Report post Posted November 25, 2008 you can ask the agent to prepare the OTP and exercise it without the valuation report. as what poseidon stated, valuation report is for the buyer to get his loan. when i was looking for my flat, i came across a similiar case - seller owing HDB, and according to the agent, seller must have HDB approval to sell. Did you check with your agent on this? Share this post Link to post Share on other sites
clockwork 0 Report post Posted November 25, 2008 (edited) means u pay 1k before see the valuation report?like thathor...if u wait them to make a val report and the seller drag drag in the end more than 2 weeks already ur 1k will gone or not hor? because usually otp only valid for 2weeks if not wrong and if no news from u means u dont want that house anymore and ur 1k means belong to seller already rite? just afradi the seller and agent cheat u The $1K is actually the seller's commission + OTP ( to prove we're sincere ), which means I just pay the remainding on the 2nd appt. Anyways , now we already know the truth , my agent has taken back the cheque and given it back to me. Now just wait for val report and if val report good price , then we buy. you can ask the agent to prepare the OTP and exercise it without the valuation report. as what poseidon stated, valuation report is for the buyer to get his loan. when i was looking for my flat, i came across a similiar case - seller owing HDB, and according to the agent, seller must have HDB approval to sell. Did you check with your agent on this? My agent did tell me this , but he also did say the HDB might question the agents involved. Like why sell way below valuation when val report not out ? What if the val is higher ? Seller already lose alot of $$ , agent making it worse. HDB might think we are dealing " under the table : and best not to take risk as it will inplicate all agents involved. My HDB loan is already approved , my agent has done the math for us , and told us what we can afford. Just this agent & seller argh.... heh I think clockwork knows that she has to pay for the valuation wor. She did mention... the only thing here is that the agent said the flat was going for BELOW valuation.. but if haven't do valuation how they know it is below le?! that was one of the thing that struck me ba. it's like delivering half the truth only. I think the agent follow the 2nd quarter val. Flats around the area was sold at around that said price. The latest resale transaction in Nov was the same as what he quoted us. Somemore the flat very cialat. maintinence wise , way below average !! I check the HDB site. My flat was sold at a good price coz of good maintainence and location. Phew ~~ I got to sell my 3 rm flat at a price of a 4 rm.Weeeee ~~~ Edited November 25, 2008 by clockwork Share this post Link to post Share on other sites
pinkpetter 0 Report post Posted November 25, 2008 My HDB loan is already approved , my agent has done the math for us , and told us what we can afford. Just this agent & seller argh.... I think the agent follow the 2nd quarter val. Flats around the area was sold at around that said price. The latest resale transaction in Nov was the same as what he quoted us. Somemore the flat very cialat. maintinence wise , way below average !! I check the HDB site. My flat was sold at a good price coz of good maintainence and location. Phew ~~ I got to sell my 3 rm flat at a price of a 4 rm.Weeeee ~~~ Wah good for you! And good for us too hahah means we get to see more of your DIY stuff!!! COOLL! Share this post Link to post Share on other sites
clockwork 0 Report post Posted December 1, 2008 (edited) Part 2 : On our last meeting , the agent promised my agent that he'll inform my agent as soon as the val is done. We waited for a week , no calls from him. My agent has been calling and leaving msgs , but no reply. Even calling from coffee shops. In the meantime , my agent is still bringing us to view other units. 1 week later still no news from that agent and we were getting pissed. My agent said , if this is the case , he'll go and speak to the seller himself and find out what is the problem. Even thou its unethical , the agent does'nt bother to answer my agent's calls anyway. After approaching the seller , which was a lady, she said she doesn't know anything and leaves all decision to her husband,who was never around. She said other buyers are intrested in the unit too, and we're not the 1st to approach her. And that the other agents also told her they cldn't get the seller agent to answer or return their many calls. Which we thought was vey weird. I mean , if they found a buyer alreday , just say so , why play this cat & mouse game ? My agent advised me , that since the agent is so difficult and unethical , we shd not pursue the unit. Too many obstacle , very suey !! So decided to leave it at that. This agent is very &*#@ up man ! Want to help seller sell house , but won't reture calls. Wasted so many pple's time. Will definitely write to his company and complain about his unethical ways. Edited December 1, 2008 by clockwork Share this post Link to post Share on other sites
therat 18 Report post Posted December 1, 2008 Part 2 : On our last meeting , the agent promised my agent that he'll inform my agent as soon as the val is done. We waited for a week , no calls from him. My agent has been calling and leaving msgs , but no reply. Even calling from coffee shops. In the meantime , my agent is still bringing us to view other units. 1 week later still no news from that agent and we were getting pissed. My agent said , if this is the case , he'll go and speak to the seller himself and find out what is the problem. Even thou its unethical , the agent does'nt bother to answer my agent's calls anyway. After approaching the seller , which was a lady, she said she doesn't know anything and leaves all decision to her husband,who was never around. She said other buyers are intrested in the unit too, and we're not the 1st to approach her. And that the other agents also told her they cldn't get the seller agent to answer or return their many calls. Which we thought was vey weird. I mean , if they found a buyer alreday , just say so , why play this cat & mouse game ? My agent advised me , that since the agent is so difficult and unethical , we shd not pursue the unit. Too many obstacle , very suey !! So decided to leave it at that. This agent is very &*#@ up man ! Want to help seller sell house , but won't reture calls. Wasted so many pple's time. Will definitely write to his company and complain about his unethical ways. Hi, can share that is the seller agent name, contact number and company he represent. I'm looking for flat. Want to ensure.. will not handle by this kind of agent. If not proper to review in public. PM me also can. Thanks. Share this post Link to post Share on other sites
pinkpetter 0 Report post Posted December 1, 2008 Part 2 : On our last meeting , the agent promised my agent that he'll inform my agent as soon as the val is done. We waited for a week , no calls from him. My agent has been calling and leaving msgs , but no reply. Even calling from coffee shops. In the meantime , my agent is still bringing us to view other units. 1 week later still no news from that agent and we were getting pissed. My agent said , if this is the case , he'll go and speak to the seller himself and find out what is the problem. Even thou its unethical , the agent does'nt bother to answer my agent's calls anyway. After approaching the seller , which was a lady, she said she doesn't know anything and leaves all decision to her husband,who was never around. She said other buyers are intrested in the unit too, and we're not the 1st to approach her. And that the other agents also told her they cldn't get the seller agent to answer or return their many calls. Which we thought was vey weird. I mean , if they found a buyer alreday , just say so , why play this cat & mouse game ? My agent advised me , that since the agent is so difficult and unethical , we shd not pursue the unit. Too many obstacle , very suey !! So decided to leave it at that. This agent is very &*#@ up man ! Want to help seller sell house , but won't reture calls. Wasted so many pple's time. Will definitely write to his company and complain about his unethical ways. My goodness... that's terrible.. means the deal fell through? nvm nvm Now you can get most flats at zero or very low COV with less problems than this.. you're better off really GOOD LUCK! Share this post Link to post Share on other sites
tommy78 0 Report post Posted December 3, 2008 actually is a risk that u want to consider taking lor Agree price and then do valuation report. I did during August. Heng the valuation came out only 4K below our agree price if valuation report to high u have to let go ur $1k but u can keep the valuation report if not sell back to the owner lor. Share this post Link to post Share on other sites
