Feb 19 2016, 09:22 AM
QUOTE(feiming @ Feb 18 2016, 02:30 PM)
We are interested in a subsale unit, and we are negotiating the price with the owner through his agent. After a more then a month, we still haven't finalize the price.
The owner didn't respond to our counter offer for 3 weeks. The agent said he's out of country. Now the owner is back and the agent is asking us to issue a cheque to show our "sincerity" in buying the unit.
Question
1. Have you heard of asking for "sincerity" cheque?
2. Is this a worthy issue to complain to Malaysian Insitute of Estate Agents?
I don't think there is such practice as issuing a cheque to show sincerity in buying a real estates. Unless you are so fond of that particular property that not buying is not an option then you basically have no choice but to let them grab you by the balls then issue them the cheque.The owner didn't respond to our counter offer for 3 weeks. The agent said he's out of country. Now the owner is back and the agent is asking us to issue a cheque to show our "sincerity" in buying the unit.
Question
1. Have you heard of asking for "sincerity" cheque?
2. Is this a worthy issue to complain to Malaysian Insitute of Estate Agents?
My advise is to forget about the property. Let go and search for another one. The market isn't exactly condition for sellers to hold the upper end of the bargaining chip. The agent wanted that cheque so that he could hold you down at his discretion. Don't do it.
Lodging a report to the institute has no bearing as the act has not been committed.
Save everyone the trouble and time and move on.
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