Fresh 1st Timer Buyer

[mel77 1]

Sometimes agents think that once the deal has been inked, the story ends. But in fact the story has just begun.

If you look at each step of the process, the agent plays a big role in making the process flows smoothly. So like what some have mentioned, doing a bit of reading up and finding out would give you a upper hand and in control.

[noobsea 0]

Advises:

1. Clause 11 on OTP, if you are urgent & need resale application to be submitted asap, don't let agent putting 90 days which is the maximum. Put your grand signature on every single page of the OTP, to avoid one or 2 pages being replaced after this, don't even leave blank. Agent or seller whether sign on every single page or not, up to them. Get hold a copy of this OTP after seller/buyer/witness have signed.

2. Ask seller : Have they got house to stay after selling. Or are they NOW looking for house to stay. If they are still "looking", good luck to you.

3. Believed you have standby the HLE? for hdb mortgage.

4. Preferably pay $4k in cheque then cash.

5. Be standby, agent will ask you to sign some "paper", make sure which is which, especially the commission rate letter, see clearly the % and figure then sign.

6. Commission only payable to agent upon completion(2nd appointment),if he still wants his commission, he will follow throught the process till completion.

7. Utitlities accounts transfer, not so urgent, abt 2 wk before completion will do, ask agent for "favorable" to do this for you.

8. Renovation you should know lah. Be happy will stay lucy.

Thanks Bepgof,

Coming here to look for things I need to be aware of certainly helps a lot. Especially when you guys are able to give valuable advices.

I did sign the OTP every single page. HLE settled.

Utilities account transfer, if I can, I will do it myself. In case he ask me to call this and that to settle myself instead of helping me.

Thanks!

[noobsea 0]

Sometimes agents think that once the deal has been inked, the story ends. But in fact the story has just begun.

If you look at each step of the process, the agent plays a big role in making the process flows smoothly. So like what some have mentioned, doing a bit of reading up and finding out would give you a upper hand and in control.

I agree!

Story just begun for us buyer/seller. But no doubt, there's still good agents out there.

I even met an agent whom she offer to give me discount price on her comm is ever she help us seal deal. but too bad, not fated with her.

[therat 18]

Thanks Bepgof,

Coming here to look for things I need to be aware of certainly helps a lot. Especially when you guys are able to give valuable advices.

I did sign the OTP every single page. HLE settled.

Utilities account transfer, if I can, I will do it myself. In case he ask me to call this and that to settle myself instead of helping me.

Thanks!

In case you want to do PUB account.

It can do online

http://services.spservices.sg/cs_services_...rameset.asp?ID=

[noobsea 0]

In case you want to do PUB account.

It can do online

http://services.spservices.sg/cs_services_...rameset.asp?ID=

Thanks thanks.

[Sam Lee Poh Huat 0]

Advises:

6. Commission only payable to agent upon completion(2nd appointment),if he still wants his commission, he will follow throught the process till completion.

A gd pointer by bepgof. Personally, I've encountered one "old bird" agent who told me that it was a "standard practises" for his estate company/industry to seek on his behalf for commission payment in the mist of resale transaction. BUT, he will kindly wait for the the whole process to end and asked us to ignore his company letters. Salesman talk i know, but a goodwill gesture to reckon.

However, due to personal reasons my association with him ended as I gave up on the unit he represents. Still, i gave him a small ang bao and paid for my valuation report as my intention then was to get him to contra my unit with his sellers.

Again, reinstate clearly your intentions and doubts before signing anything. And of cos, even though u like the unit, do not rush to sign anything.

Btw, are u aware that after 15 nov, sellers agent are not suppose to demand commission from buyers without agents? However, a predetermined amount could be agree between both parties if buyer is willingly to let the seller agent to handle their paper work.

[noobsea 0]

A gd pointer by bepgof. Personally, I've encountered one "old bird" agent who told me that it was a "standard practises" for his estate company/industry to seek on his behalf for commission payment in the mist of resale transaction. BUT, he will kindly wait for the the whole process to end and asked us to ignore his company letters. Salesman talk i know, but a goodwill gesture to reckon.

However, due to personal reasons my association with him ended as I gave up on the unit he represents. Still, i gave him a small ang bao and paid for my valuation report as my intention then was to get him to contra my unit with his sellers.

Again, reinstate clearly your intentions and doubts before signing anything. And of cos, even though u like the unit, do not rush to sign anything.

Btw, are u aware that after 15 nov, sellers agent are not suppose to demand commission from buyers without agents? However, a predetermined amount could be agree between both parties if buyer is willingly to let the seller agent to handle their paper work.

Hopefully, no hip cupps from now till collecting of keys.

But I have already clarify in the very beginning about his comm part. He acknowledge that once the sales is FULLY COMPLETED then we will pay his comms.

And, no, I am not aware of the 15 nov new ruling. Garment always come out with so many many funny rulings. 1st is the CEA ruling which all agents have to be certified before they can practise. Then come out with ruling about the seller's check list.

So many many till I can hardly catch up.

Now, pray hard that everything will go on smoothly. =)

[Sam Lee Poh Huat 0]

Hopefully, no hip cupps from now till collecting of keys.

But I have already clarify in the very beginning about his comm part. He acknowledge that once the sales is FULLY COMPLETED then we will pay his comms.

And, no, I am not aware of the 15 nov new ruling. Garment always come out with so many many funny rulings. 1st is the CEA ruling which all agents have to be certified before they can practise. Then come out with ruling about the seller's check list.

So many many till I can hardly catch up.

Now, pray hard that everything will go on smoothly. =)

Other than comm hope u have discussed with him on your doubts and expectations. CEA has stated that all estate agents will be certified and register with them from 1st jan 2011 for public reference.

As on 15 nov 2010; Commencement of Estate Agents (Estate Agency Work) Regulations 2010 except the display of estate agent's card requirement.

And as per

Estate Agents (Estate Agency Work) Regulations 2010

3 The EAW will prohibit dual representation by salespersons (i.e. no salesperson is allowed to act for both buyer & seller or landlord & tenant in any property transaction), and prohibit estate agents and salespersons from handling cash in certain transactions or referring their clients to any moneylender. The EAW also contains responsibilities for estate agents. For instance, it stipulates guidelines regarding advertisements and requires estate agents to have systems and processes for the management and supervision of their business and salespersons. Estates agents are also required to have a proper complaints handling system. These provisions of the EAW will take effect from 15 November 2010 onwards.

Anyway, hope everything will be smooth sailing for u.