Page 2 of 2 FirstFirst 12
Results 21 to 37 of 37

Thread: Possible to buy property without going thru (paying) an agent?

  1. #21
    Senior Member melvin's Avatar
    Join Date
    Jun 2005
    Location
    TPY
    Posts
    2,539

    Default Re: Possible to buy property without going thru (paying) an agent?

    Quote Originally Posted by Gymrat76 View Post
    Thanks for the information Melvin. Will go through my friend for all dealings henceforth, if nothing else but to increase the chances of getting a flat
    You are welcome hope you find your dream home!

  2. #22

    Default Re: Possible to buy property without going thru (paying) an agent?

    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.

  3. #23
    Senior Member melvin's Avatar
    Join Date
    Jun 2005
    Location
    TPY
    Posts
    2,539

    Default Re: Possible to buy property without going thru (paying) an agent?

    Quote Originally Posted by s1221ljc View Post
    Hi Gymrat76, its possible to buy a HDB flat without appointing an agent to represent you. Its very straightforward & quite failsafe, just check with HDB on the procedures & requirements. As the HDB is involved, they make sure everything is in order & they advise you accordingly. Thousands of flats have been bought this way. I myself bought a flat 3 times doing all the paperwork myself with no hassle or problem. However, if you are a first timer & you have no confidence in understanding processes & handling paperwork, or you find dealing with a bank to obtain a loan complex & tricky, then its best you get an agent to help you & pay him a comission for his services. If no bank loan is involved, its definitely much easier & smoother since only HDB & CPF is involved.

    Seller's agent always try to get a cut of an additional 1% from the buyer, in addition to the 2% from seller, in such a case. You just point out its unethical or inappropriate for him to represent/advise both parties as there will be a conflict of interest, & you are literate & competent enough to do the purchase yourself. There is no law that you must appoint an agent to represent you. Emphasise that he as agent for the seller has to act in the seller's interest & that if you are a genuine buyer & knows what you are doing, he has no right to refuse to deal with you on behalf of the seller.
    Are you sure thousands of flats are transcated this way?
    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.

  4. #24
    Senior Member melvin's Avatar
    Join Date
    Jun 2005
    Location
    TPY
    Posts
    2,539

    Default Re: Possible to buy property without going thru (paying) an agent?

    Quote Originally Posted by ahboy168 View Post
    Just remember that all agents act in their own interest over yours. Two headed snake ... Why not just sign up as a agent yourself, then u perform the transaction yourself. Your "school" will do all the paper work with a small fee. You yourself will be the best agent !
    ARE YOU SURE ALL AGENTS ACT IN THEIR OWN INTEREST AND ARE TWO HEADED SNAKE ??? Kindly watch what you say/write! Perhaps you might have met with one but are u sure he represents ALL AGENTS???

    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.

  5. #25

    Default Re: Possible to buy property without going thru (paying) an agent?

    To Melvin, my response in red/bold

    Quote Originally Posted by melvin View Post
    Are you sure thousands of flats are transcated this way?
    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!

    Bro, don’t accuse me that I have mis-led when you mis-read & make your own presumptions! I didn’t say its for 1 year or for 2011. I mean over the years, it’s a common, general & accepted practice, that’s why HDB put the documents & procedures in their website for the public. Its been this way for 20 over years! Go check with HDB if you think its uncommon or abnormal. & its transacted/transactions, not transcated/transcation.

    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!

    I am just answering TS question & sharing my experience. What I stated are facts. Its up to the individual whether to appoint an agent or salesperson. I did not force my opinion on TS & he has made his own decision. You sound like a real alarmist & seem you have some vested interest in all these ramblings & rantings, presumptions & insinnuations. So you are a agent & you don’t like what I say? Like I said, not getting an agent or salesperson is common, accepted practice by HDB. I bought 3 HDB (sold 2) over the past 20 years, you have any problem with this? You try to scare me hahaha???

    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???

    Don’t know what you are talking here. I don’t pay any commission when I don’t get an agent to represent me. Don’t have to explain to me the justifications, rationale for agent’s commissions.

    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!

    Go to the HDB if you don’t know or haven’t seen what an OTP is. When we buy from HDB, they will recommend to use their own lawyers for drafting the conveyance documents as they are quite standard & it will be cheaper & faster. We don’t need to get our own lawyers unless we insist. If private property, the conveyance has to be done by a lawyer we appoint. You don’t get this? Agents & lawyers do different work, you don’t understand this or are you confused?

    Agents definately have no right to refuse the deal but the sellers do have the right to refuse.

    You agree agent has no right. I did not say sellers have no right to refuse, they even have the right not to sell for whatever reasons.




    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.

    Quote Originally Posted by melvin View Post
    ARE YOU SURE ALL AGENTS ACT IN THEIR OWN INTEREST AND ARE TWO HEADED SNAKE ??? Kindly watch what you say/write!

    Perform your own transcation = conflict of interest!..............
    Last edited by s1221ljc; 10th March 2012 at 06:02 PM.

  6. #26

    Default

    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.

  7. #27

    Default Re: Possible to buy property without going thru (paying) an agent?

    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!!!

  8. #28
    Senior Member melvin's Avatar
    Join Date
    Jun 2005
    Location
    TPY
    Posts
    2,539

    Default Re: Possible to buy property without going thru (paying) an agent?

    Quote Originally Posted by s1221ljc View Post
    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?[/COLOR][/B]

    And oh btw perform your own transaction is NOT equal to conflict of interest, acting for BOTH buyer & seller IS.

    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.'

  9. #29

    Default Re: Possible to buy property without going thru (paying) an agent?

    Quote Originally Posted by Gymrat76 View Post
    Always been a bit curious about this, whether its possible to be a direct buyer without having to pay or go through an agent. Lets say we see something listed in the newspaper or property website and contact the seller's agent directly, we view and agree on a price. The seller's agent cannot represent both sides, and so will try to still 'eat' both sides by getting a friend to represent one or the other. Can you insist in not going through any agents and do all the paperwork on your own?
    Not sure if you know but HDB does have its own in-house team of agents that are on a payroll rather then on comission based. If this is your first flat, does not hurt to consult them.
    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.

  10. #30

    Default

    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.

  11. #31

    Default Re: Possible to buy property without going thru (paying) an agent?

    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.

    CHeers

  12. #32

    Default Re: Possible to buy property without going thru (paying) an agent?

    Quote Originally Posted by melvin View Post
    So, is over the years. Provide the figure that show thousands of transaction ...

    .......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.'
    To Melvin

    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.

  13. #33
    Senior Member melvin's Avatar
    Join Date
    Jun 2005
    Location
    TPY
    Posts
    2,539

    Default Re: Possible to buy property without going thru (paying) an agent?

    Quote Originally Posted by s1221ljc View Post
    To Melvin

    The “thousands of times” is but a figure of speech. ....

    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.


    To s1221ljc,

    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!

  14. #34
    Senior Member melvin's Avatar
    Join Date
    Jun 2005
    Location
    TPY
    Posts
    2,539

    Default Re: Possible to buy property without going thru (paying) an agent?

    Quote Originally Posted by Gymrat76 View Post
    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.

    CHeers

    Congrates for your new purchase!

  15. #35

    Default Re: Possible to buy property without going thru (paying) an agent?

    Quote Originally Posted by melvin View Post
    To s1221ljc,

    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. ..........................

    Again Sorry for inconveince cause!
    Apologies accepted, case closed, no hard feelings. This happens to the best of us. We sometimes get blindsided esp with things we feel strongly about.
    Last edited by s1221ljc; 13th March 2012 at 08:47 PM.

  16. #36
    Senior Member
    Join Date
    Feb 2005
    Location
    sing
    Posts
    3,357

    Default Re: Possible to buy property without going thru (paying) an agent?

    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.

  17. #37

    Default Re: Possible to buy property without going thru (paying) an agent?

    Quote Originally Posted by ricohflex View Post
    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.
    Thanks for the heads up.. but the gf/wife is in the construction business so will know better than me how to deal with this haha

Page 2 of 2 FirstFirst 12

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •