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 Traps to avoid when buying a house from individual, what to pay attention to

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sblsbl
post Oct 25 2009, 04:05 PM

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I bought a house from someone who seems very nice. i asked them if the place can smell the stinks from the oxidation pond or not? they told me "of course nolah!"... then after I moved in, got smell once in awhile, and sometimes could get quite serious too.

never trust the seller's words easily lo, if i may advice...
leongal
post Oct 25 2009, 04:08 PM

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QUOTE(sblsbl @ Oct 25 2009, 04:05 PM)
I bought a house from someone who seems very nice. i asked them if the place can smell the stinks from the oxidation pond or not? they told me "of course nolah!"... then after I moved in, got smell once in awhile, and sometimes could get quite serious too.

never trust the seller's words easily lo, if i may advice...
*
in my case, the agent told me the sewage smell is because the water piping was off; and the same time, the toilet ceiling is leaking, suspect it could be the water leakage from top toilet...

n yes, also, never trust the agent word by word.....
sblsbl
post Oct 25 2009, 04:43 PM

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QUOTE(leongal @ Oct 25 2009, 04:08 PM)
in my case, the agent told me the sewage smell is because the water piping was off; and the same time, the toilet ceiling is leaking, suspect it could be the water leakage from top toilet...

n yes, also, never trust the agent word by word.....
*
the agent is such a liar.... shakehead.gif
TSgreatbargain
post Oct 25 2009, 09:39 PM

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updated my post with your tips

thanks a lot.

i hope this will help me & others too

any more experiences will be much appreciated if you share
modD
post Oct 26 2009, 10:55 AM

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QUOTE(asiatrader98 @ Oct 23 2009, 03:25 PM)
yeah....by the way, if this is the case, WHEN shall we go to check the fully-furnished house? before 2 drawdown? hmm.gif
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i made a list of all the things in the house during the 2nd viewing, before signing to anything.
TSgreatbargain
post Oct 26 2009, 10:05 PM

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QUOTE(modD @ Oct 26 2009, 10:55 AM)
i made a list of all the things in the house during the 2nd viewing, before signing to anything.
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Do you include your list in the S&P?
zeese
post Oct 27 2009, 12:13 PM

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don't forget.. check tenancy agreement if any.. it's not that easy to remove tenant..
TSgreatbargain
post Oct 27 2009, 02:25 PM

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QUOTE(zeese @ Oct 27 2009, 12:13 PM)
don't forget.. check tenancy agreement if any.. it's not that easy to remove tenant..
*
Can we get police or court order to evict them?
modD
post Oct 27 2009, 02:26 PM

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QUOTE(greatbargain @ Oct 26 2009, 10:05 PM)
Do you include your list in the S&P?
*
Yes I did but I don't know what's the course of action if the items in the list are missing when you finally get your keys.
TSgreatbargain
post Oct 27 2009, 02:31 PM

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QUOTE(modD @ Oct 27 2009, 02:26 PM)
Yes I did but I don't know what's the course of action if the items in the list are missing when you finally get your keys.
*
your lawyer should be able to advice you on that blush.gif
jchong
post Oct 29 2009, 04:38 PM

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QUOTE(greatbargain @ Oct 19 2009, 04:19 PM)
but if you buy from developer, it is their lawyer, right?
*
If you're buying a house under construction from developer it should be using the standard form agreement under the law.

Only when you are buying 2nd hand then the S&P can be varied. This is where it is better to have your own lawyer to ensure your interests are protected.


Added on October 29, 2009, 4:43 pm
QUOTE(jasonhanjk @ Oct 25 2009, 10:34 AM)
Here's a true story that happened recently in JB.

A few years back, an Indian lady want to buy a townhouse. Cost around 140k.
She like the place and place 20k deposit with the owner.
After that the owner run away.

So she stayed in there a few more years until recently the bank wanted to auction the unit she is staying.
Which belongs to the owner that run away.
This is the price for not getting a reputable agent to represent you.
Most of the time it doesn't happen the way this Indian lady encounter, but you got to be lucky not to be the victim.
*
Don't quite understand the situation here. So the Indian lady moved into the townhouse after placing the 20k deposit. The house wasn't transferred to her (because owner ran away), but at least she managed to stay there a few years right? Like that at least can consider the 20k as rental for those few years (which is not bad).

This post has been edited by jchong: Oct 29 2009, 04:43 PM
SD Cruz
post Oct 30 2009, 04:33 PM

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I had a buyer want to buy my house. However the buyer wants the detail about my house for trying to applying the loans. He said that scare he cannot get the house loan. He even ask for my S&P?? Can this be the way??

Coz from wat i know, the buyer should sign the letter of offer 1st and on the spot give the 2% from the Selling Price rite??

Please advise.
chae
post Oct 30 2009, 06:17 PM

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QUOTE(SD Cruz @ Oct 30 2009, 04:33 PM)
I had a buyer want to buy my house. However the buyer wants the detail about my house for trying to applying the loans. He said that scare he cannot get the house loan. He even ask for my S&P?? Can this be the way??

Coz from wat i know, the buyer should sign the letter of offer 1st and on the spot give the 2% from the Selling Price rite??

Please advise.
*
The buyer always can check with bank on max loan they can apply and also they can ask the bank market price of the house. so they can map with the amount of loan that they can apply.


SD Cruz
post Nov 2 2009, 04:09 PM

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thanks.
hkway
post Nov 3 2009, 06:00 PM

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Dear All,

Perhaps someone can answer my question below (sub sale without agent):

1) If i m the buyer, who shall engage a lawyer to prepare S&P and who shall counter check the S&P
2) If i m the buyer, my earnest money & downpayment total in 10% shall pay to who first ? seller, seller's lawyer or my lawyer??
3) When is the bank loan to drawdown , is it after title transfer and pay to who ??
4) What happen if the title transfer encounter problem or taking ridiculous long time which i cant wait anymore, so can i get back all my money?
5) Is my lawyer liable for any misconduct his job which causing losses to me ?
6) what is the most likely risk / trap hole to cause me loss all my money during the sub sale transaction?? How to mitigate the risk??
li_ping
post Nov 3 2009, 06:27 PM

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It's very important to hire a lawyer to represent u cos the seller's lawyer surely will act in favor of the seller.

It's the seller who pays him so why should he think of your benefit?

 

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