huatah08 0 Report post Posted December 29, 2009 (edited) My dad is gg to sell our flat. We got the service of an real estate agent who is our friend's friend to sell our existing flat. There is one day when I am not around, the agent had let my dad signed on a blank OTP and my dad who does not know english and blur blur sign it. The agent helped us to find some buyer. The agent already granted the option (the agent accepted the $1000 cash) and by the time i know it, the option is already execised on the day itself (my dad already bank in the $4000 cheque and taken the $1000 cash). that time we were like since that buyer had already execise the option then we cant do much also. I had been thinking it for days and feeling very uneasy about it... Since the option is already execised, is there a way to revoke the sales? What can we do? Someone please advise. Edited December 29, 2009 by huatah08 Share this post Link to post Share on other sites
forgotten 1 Report post Posted December 29, 2009 (edited) My dad is gg to sell away our flat and get another one. We got the service of an real estate agent who is our friend's friend to sell our existing flat. There is one day when I am not around, the agent had let my dad signed on a blank OTP and my dad who does not know english and blur blur sign it. The agent help us to find some buyer. The agent already granted the option (accepted the $1000 cash) and by the time i know it, the option is already execise on the day itself (my dad already bank the $4000 cheque). Since the option is already execised, is there a way to revoke the sales? What can we do? Someone please advise. If your dad hasn't banked in the cheque(s), there's still chance to revoke the sales. I ever read on newspapers that if the cheque(s) are banked in, it means the seller has legally entered into the contract even if the form is not signed by him. Since your dad has banked in the cheque(s), it may be too late? You should list the name and contact number of this agent out so that people will not be cheated by him. He's so unethical! I feel very unjust for your dad. Edited December 29, 2009 by forgotten Share this post Link to post Share on other sites
Mr Anything 0 Report post Posted December 29, 2009 Just wondering, are you okay with the selling price? If not okay, then you really should call the agent's company or supervisor to sort it out. And do it quickly... Don't think too long... Share this post Link to post Share on other sites
huatah08 0 Report post Posted December 29, 2009 thks forgotten and mr anything, the price is at valuation, most be lose 10-20k on the COV as the COV is pretty high right now. Guess cant do much as the cheque already deposited. Stupid me. Share this post Link to post Share on other sites
therat 18 Report post Posted December 29, 2009 no chance to revoke the sale. 1. Seller has sign on the OTP 2. Seller has bank in the CHQ and receive the cash. But, when the seller sign on the Blank OTP. Did the seller know the selling price? Is the seller agree on the price? U should feedback to the agent company for letting ur father to sign on a blank OTP form. And of course ur friend since the agent is ur friend's friend. Share this post Link to post Share on other sites
Mr Anything 0 Report post Posted December 29, 2009 well, no harm trying to talk to the agent's company... nobody (or at least not me) really knows whether banking in the cheque means anything... jia you!!! dun give up yet... 10-20k not a small amt wor (at least to me)... I would at least try to forfit the agent's commission given the circumstance... There is this radio channel fm100.3 that talks about housing stuff every thursday (i think) late morning. Every week they invite this property expert to the radio show. You can try try to sms in or call in to seek his advise. Good luck!!! =) Share this post Link to post Share on other sites
nick teo 0 Report post Posted December 29, 2009 before your dad sign on the OTP, the agent suppose to go thru the HDB resale checklist with your dad. If the agent did not or he make fasle declaration HDB will report him to Police and IRAS. Share this post Link to post Share on other sites
huatah08 0 Report post Posted December 29, 2009 no chance to revoke the sale. 1. Seller has sign on the OTP 2. Seller has bank in the CHQ and receive the cash. But, when the seller sign on the Blank OTP. Did the seller know the selling price? Is the seller agree on the price? U should feedback to the agent company for letting ur father to sign on a blank OTP form. And of course ur friend since the agent is ur friend's friend. Hi therat, ya i guess no chance to revoke the sale cos cheque bank in and cash receive. well, no harm trying to talk to the agent's company... nobody (or at least not me) really knows whether banking in the cheque means anything... jia you!!! dun give up yet... 10-20k not a small amt wor (at least to me)... I would at least try to forfit the agent's commission given the circumstance... There is this radio channel fm100.3 that talks about housing stuff every thursday (i think) late morning. Every week they invite this property expert to the radio show. You can try try to sms in or call in to seek his advise. Good luck!!! =) hi mr anything, guess i would have to discuss with the agent on the commission part bah. yup i heard about the other forumers mentioning about the radio show working then so no chance to listen to 100.3fm before your dad sign on the OTP, the agent suppose to go thru the HDB resale checklist with your dad. If the agent did not or he make fasle declaration HDB will report him to Police and IRAS. hi nick, the agent went thru the HDB resale checklist with me and my dad earlier on. its just the option which is abit disturbing... i see what i can do to make the deal more justifiable bah... Thank you all for the advises Share this post Link to post Share on other sites
Mr Anything 0 Report post Posted December 29, 2009 Take care!! At least give the agent a good scolding!!! Hope it turns out well for you... Happy New Year =) Share this post Link to post Share on other sites
Kellvin 0 Report post Posted December 30, 2009 My dad is gg to sell our flat. We got the service of an real estate agent who is our friend's friend to sell our existing flat. There is one day when I am not around, the agent had let my dad signed on a blank OTP and my dad who does not know english and blur blur sign it. The agent helped us to find some buyer. The agent already granted the option (the agent accepted the $1000 cash) and by the time i know it, the option is already execised on the day itself (my dad already bank in the $4000 cheque and taken the $1000 cash). that time we were like since that buyer had already execise the option then we cant do much also. I had been thinking it for days and feeling very uneasy about it... Since the option is already execised, is there a way to revoke the sales? What can we do? Someone please advise. Any reason why the agent make your dad sign a blank OTP? (Is the seller going oversea?)If not, it is best both seller and buyer sit down, face to face signing the OTP. If the seller will not be around for oversea work, the seller must trust the agent and agree with the agent meet the selling price. Is the selling price acceptable to you and your dad? What is the COV? Location, is it well reno and floor? Since the OTP is already granted and exercise, you cant do anything due to the seller already sign the OTP and cash in the cheque. Like said are you please with the selling price? Share this post Link to post Share on other sites
huatah08 0 Report post Posted December 30, 2009 Any reason why the agent make your dad sign a blank OTP? (Is the seller going oversea?)If not, it is best both seller and buyer sit down, face to face signing the OTP. If the seller will not be around for oversea work, the seller must trust the agent and agree with the agent meet the selling price. Is the selling price acceptable to you and your dad? What is the COV? Location, is it well reno and floor? Since the OTP is already granted and exercise, you cant do anything due to the seller already sign the OTP and cash in the cheque. Like said are you please with the selling price? i dont know why the agent make my dad sign the otp. maybe he was thinking not to make so many trip down, make the process faster or had other plan in mind, i dont know. My dad is around in singapore. We are first time seller thus alot of thing also not too sure. $0 COV, selling at valuation price (thank god that it is still at valuation price and not less) yup OTP already granted. got to LL suck thumb liao...if can get a 20k to 30 k cov alot better...can use on renovation and furnishing bah... Share this post Link to post Share on other sites
Mr Anything 0 Report post Posted December 31, 2009 If u have decided to not pursue, then just forget it and enjoy your new year. I believe in kama, if the property agent really scam you, he will pay for his sins in different ways. Happy New Year =) Share this post Link to post Share on other sites
Kellvin 0 Report post Posted December 31, 2009 i dont know why the agent make my dad sign the otp. maybe he was thinking not to make so many trip down, make the process faster or had other plan in mind, i dont know. My dad is around in singapore. We are first time seller thus alot of thing also not too sure. $0 COV, selling at valuation price (thank god that it is still at valuation price and not less) COV $0 at current market? yup OTP already granted. got to LL suck thumb liao...if can get a 20k to 30 k cov alot better...can use on renovation and furnishing bah... Blacklist this agent, tell us which company he is from? Share this post Link to post Share on other sites
forgotten 1 Report post Posted December 31, 2009 Blacklist this agent, tell us which company he is from? Yeah list his mobile number and company out. Don't get more people be cheated by him. Share this post Link to post Share on other sites
