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Verbal offer and waiting for "offer to purchase"
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TSleongal
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Oct 12 2009, 11:53 PM, updated 17y ago
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I am a first time buyer; and I am trying hard to contain my "happiness"
The agent somehow gave a verbal offer; no money is paid. I have been calling him few times today to make sure that there is no holes in the verbal offer.
Now, I should be waiting for the "offer to purchase" and then only pay to the agent, the booking fee of 2% of the property price?
I am rather a non patience person; I thought of calling him tomorrow and find out when i can get the "offer to purchase". At the same time, if I do so, it will definitely tell that I am so desperate(which is true, I admit) and will raise the agent's intention to raise the price further?
But, I can't be waiting forever. How long should I wait? (How much time should I give the agent to come back to me?) Cos, if this fails, I will need to look for an alternative. And, I am in need to look for a home.
Thanks for the advice, in advance. =)
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TSleongal
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Oct 13 2009, 09:06 AM
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QUOTE(tatatan @ Oct 13 2009, 08:36 AM) I think TS means the earnest deposit of 2%, not the agent fee 2%. TS, Be friend with the agent, they will help you. Try to ask them when you need to pass them the 2% earnest deposit, and then you will know when you can sign LO. Yah, I means earnest deposit Thanks for the advice. Will try sms him today =)
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TSleongal
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Oct 13 2009, 04:52 PM
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QUOTE(Lawyer1 @ Oct 13 2009, 02:30 PM) Leong, I am not sure how long you have been waiting, but if it has been quite sometime, then you must start looking around for another house,... as backup. Either there is something not quite right about this purchase, or the agent is 'gauging' your pateince level for which he will use to raise the price, or there are some issues at the seller's end. If it is a smooth one, it would have been closed asap,.... Do not wait,... put a backup plan in-place,.... thanks....today is my first day of waiting....the agent says he will get back to me tomorrow; after which, if he doesn't, I will look for an alternative.....and currently still searching as back up Thanks everyone for the advice
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