Thanks everyone for the information. To clarify, yes, am looking at HDB, not private. And yes, am getting a friend, who is also a trusted and competent agent to do the legwork and paperwork for us.
For your info: For year 2011, 1st quarter 6,228 transcation, 2nd quarter 6,581 transcation, 3rd quarter 5,903 transcation, 4th quarter 5,921 transcation. Total of 24,633 transcation for the year of 2011. May i know which are the thousands that are transcated this way? Get your stats right don't mis-led!
How you buy a flat but 3 times paper work? what does it mean?.... ok i may have mis-read you so is buy sell 3times. With due respect to your 3 times buy sell do you think you are better then any agent? Yours were hassle or problem free is that you have a problem free seller (not implying that sellers will create prob.) and your cases are straight forward therefore No implications so hassel free.... wait till you meet one with prob then you come tell us how hassel free it is. Then u will know what sh*t agts go through!
SELLERS AGENTS DON'T ALWAYS get the additional 1% from buyer! Esp when buyer have their agts. that means they have to co-broke so buyers agt get from buyer seller agt get from seller agt (in which is the case nowadays as new regulations requires agts to co-broke unless owners said so.) in this case can u adivce on how to GET A CUT OF THE ADDITIONAL 1%??? unless you pay willingly on top of payinig your own agt. but will you???
Snice you are so literate & competent, can you tell me what are the terms and conditions in the Option to Purchase? and what are the terms and condition of sales which are in force but not stated in the contract? If you are that well competent why do you still need a conveyancing lawyers? Do the convanycing yourself then!
Agents definately have no right to refuse the deal but the sellers do have the right to refuse.
Last edited by melvin; 10th March 2012 at 12:36 PM.
Perform your own transcation = conflict of interest!
Small fees? Join a agency going through courses taking exams all these cost $2-3K. not accounting for the time of 2-3 months, your transportation meals etc.... before you are qualified. You think it is worth while an you end up buying your own flat! Period.
To Melvin, my response in red/bold
My comment on mis-information was not directed at you, dont know why you taking it personal & your feathers are so ruffled. Please stop barking up the wrong tree. Or maybe I should thank you so you can reply with smirk of satisfaction?
And oh btw perform your own transaction is NOT equal to conflict of interest, acting for BOTH buyer & seller IS.
Last edited by s1221ljc; 10th March 2012 at 06:02 PM.
Better to get an agent to represent u, the buyer. As buyer, U don't have to pay commission to ur agent, ur agent is supposed to get his cut from the seller's agent.
Why u need an agent - help to do paperwork, coordinate with seller agent, negotiation, research on properties etc.
i did the transaction myself and i find it not a big problem, but must be hard working to look thru the details etc... lazy type look for agent better.
Eat breath LIVERPOOL!!!
So, is over the years. Provide the figure that show thousands of transaction ... n i did say its over a year or over 2011. I am just using yr 2011 as an example with that number of transaction how many were transacted without agts? And i didn't say is common or uncommon practise to go without agts. If can't provide the figures then don't say thousands n try to make it looks like is very common.
So what if i am an agent or not alarmist or not, the point here i am saying is that not everyone will be as lucky as u to go through your 3 cases. Why do i need to have a prob with that? and why would i need to scare you i am just stating the facts. If you feel scared then you are scaring yourself!
It ok for you to refuse to understand. And says that "Seller's agent always try to get a cut of an additional 1% from the buyer, in addition to the 2% from seller" For your info not all seller's pay 2%!
Bro, I know whats the OTP is all about, read and seen more then u have seen of them! Snice you are so competent you tell me whats in the OTP. Snice you are so competent do you know that if there are any sales conditions other then OTP? thats what i am saying here!
I know about conveyancing and what the agts and lawyers does be it be in HDB or Private so you can save yourself telling all this.
Here i am saying snice you no need agt and so competent you must well save on your lawyer fees and do your own conveyancing!
And of cause i know that you can or not do your own conveyancing.
YES I AGREED agts got no right!
All in all i am saying no need make mountain out of a mole hill! Ya i know you are proud of your own 3 lucky transactions!
And no not that i can reply with smirk of satisfaction, i am just practising my expression trying to be 'without prejudice.'
Last edited by Reportage; 11th March 2012 at 01:49 AM.
You wont see me much less remember me but i am the guy who makes you look good.
Yes you can do all the transactions without an agent.
The final real transaction is always by lawyers not agents. Agents cannot do any transactions with regards to the sale/purchase. All they do is bring your papers to hdb and run the errands for you.
They claim to do buyer screening for you. Probably worthwhile if you're a seller but if he is already represented by an agent, it's already done, why do you need to pay again.
If the buyer is on his own and puts 5% down without checking his own eligibility, you get to keep the money for the inconvenience. I won't complain getting 25k to run a few useless trips to hdb. At most if you're kind write something to keep 1-2% in case such happens.
Just remember to have everything in writing and signed on all pages, not just the signature page with additional signatures against paragraphs that are special conditions.
Talk is worth nothing, you just get a headache trying to prove it. Write, sign and money on the table. It's not a friend making session.
Thanks all for your replies. We have found a place we like and have put down the deposit -with our friend the agent representing us.
The “thousands of times” is but a figure of speech. Is it so important to you if it is 2001, 4096, 6067 times or another figure? It’s still thousands of times? Provide me the exact number of HDB transactions & also cases where buyers’ agents were appointed for the past 20 years, then perhaps I can try to give you the number of transactions without agents
You said & I quote “About 90-95% of the properties in the markets are represented by agts…….” & also “… Total of 24,633 transcation for the year of 2011”. That means 5-10% or 1,231 to 2,463 are transactions without agents. If this is not thousands to you, multiply that by 20 years, & tell me what’s the figure. And please don’t tell me all these are for sellers & not buyers’ agents ONLY!
Everyone is free to choose & decide for himself whether he want or don’t want to hire an agent. If my this remark is foolish or misleading, you think TS or others will be so gullible as to believe & just act? Please, give others some credit. Nobody appoints you & you dont have to act like some kind of a policeman.
You made many assumptions/insinnuations about me & my transactions in your posts & this "lucky" thing is your favourite. You do not know me, you do not know the transactions involved. Were these all all due to luck as you mentioned so many times, or due to maybe this, maybe that??? Maybe if you are an agent & from the way you put it, you depend on luck to see transactions through. For me I would prefer to think its knowledge, experience & skills, & more importantly the willingness to learn & do.
If someone has 10-20 years experience in a bank worked in operations, audits, process QA etc that also cover housing loans etc, is that person competent enough to handle something like buying a HDB flat without an agent in your opinion? There are “thousands” (here I go again) of accountants, auditors, lawyers & other professionals, semi-professionals, in the banking, financial, securities, real estate & other industries. You don’t think any is capable enough to DIY to buy a HDB flat?.Does it offend you if I say buying a HDB flat is like a walk in the park for me, its not as daunting, scary & complex as you try to paint it? Why cant you respect someone who prefer to DIY? Why cant you accept it if someone has a different opinion from yours?
And don’t think only HDB agents knows about property & all. In fact, some agents know pretty much next to nothing but help to fill up forms, carry documents & instructions to & fro etc for HDB flats only, not private property transactions. They include those who have poor communication skills, unable to persuade & convince others of why it is good &/or important to have them as agents, but resort to just act smart (‘I’ve seen more than you’, 'I know best' types), scaremongers, arrogant & autocratic. If you are an agent & you get "sh*ts” for doing the work, maybe its time for you to re-examine where you went wrong & not blame it on & get angry with others, esp your customers, buyers or sellers.
WHETHER OR NOT one has an agent to represent him, end of the day, the buyer (or seller) has to read through, complete, check, understand & sign the documents & he is ultimately responsible for whatever is transacted by him. Does a buyer or seller just sign blindly, because he has an agent? Is the agent responsible in this respect?
If you already know whats an OTP & what conveyancing is, why ask? You like to show off, to test & challenge others out of pride? You are insecure & need the approval & gratitude of others for your “advice”? For your info, I do not give any advice, I am not an adviser. I would think I just like to share experiences, to guide if able, point the way for another person, who is wiling to learn & help himself. Those who know don’t need to pay, those who don’t know have to pay those who know.
If you read what I said carefully, I never ask TS or anyone not to appoint an agent. On the contrary I said to TS “If you are a first timer & you have no confidence…. or you find dealing….complex & tricky, then its best you get an agent to help you & pay him a commission for his services”
I think you are the one making a mountain out of a molehill. My simple remarks just drive you up the wall
I don’t know what your ‘practicing my expression try to be without prejudice’ means. I don’t think you understand what is “without prejudice”, you seem to be full of prejudice, even malice, here. As to your warning to others "be careful of what you say/write...", perhaps you should direct this to yourself instead.
You started this, I hope to end it here... but you can carry on your rantings if you like. TS, sorry about this but you can close this thread to avoid further postings. Rgds.
Last edited by s1221ljc; 13th March 2012 at 11:14 AM.
I hereby apologise to you for all inconveince cause / said / malice of you. As i look back at threads and laugh and i really didn't know why i did that, like suddenly decided to grow horns.
I like to clarify i am definately not trying to be police here or approval & gratitude of others for my “advice” or gain acknowledgement. Just trying to 'help' those with what i know in the process hoping not to provide wrong info. and definately not here to do my business in fact none of my business is from here!
ps: I don't get sh*t from my clients!
Again Sorry for inconveince cause!
TS now beware the renovation contractor. The tricky ones know how to zero in on the wife/girlfriend of home-owner with "designer" ideas of expensive renovations for the home. They know guys are less likely to agree to costly redos. Cause guys may want to buy car, camera, rolex, etc.