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Can I get back earnest deposit, hse booking 2% ?, can tribunal help in this dispute?
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SUSbg12
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 Oct 26 2016, 07:33 AM, updated 10y ago
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Getting Started
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I recently paid 2% earnest deposit to book a subsale property.
the booking agreement signed between me and agent says that 2% forfeit if I don't sign S&P within certain days.
only during hse re inspection later with friend again, I noticed, kitchen countertop and floor. beneath is not exactly flat, slanting to one end, we worry hse sinking. the tiles in room beside kichen has been replaced and all walls repainted, cannot notice cracks. I worry for hidden structural defects.
loan approved. can I cancel booking and ask refund?
in case agent refuse to refund, will consumer tribunal
court support me?
thanks
This post has been edited by bg12: Oct 26 2016, 07:54 AM
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SUSbg12
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Oct 26 2016, 08:06 AM
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Getting Started
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QUOTE(Kilohertz @ Oct 26 2016, 08:01 AM) What's the agreement on this? A full refund when you couldn't secure loan? Did you applied for 90% loan and get the full 90% loan? yes my 90% loan approved. aggrement says refund if cannot secure loan. is the booking agreement valid, ? can be challenged in tribunal court? thanks |
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SUSbg12
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Nov 1 2016, 03:56 PM
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Getting Started
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QUOTE(forever1979 @ Oct 26 2016, 01:15 PM) 1st we are not sure whether the house is really has sinking issue. or it could be workmanship problem. most people here are now encouraging TS to fraud and try not to forfeit the 2%. i think better to discuss with owner. maybe nego for a cancellation or for lower quantum agent said he talked to owner and decided to forfeit i tried offer 1 mth rental offer for each party,. agent refuse saying that I must abide by 'law' |
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SUSbg12
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Nov 1 2016, 03:59 PM
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Getting Started
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QUOTE(wkkor @ Oct 26 2016, 10:52 AM) TS apply loan through the agent or urself? The loan approval letter bank got Cc to the seller? QUOTE(heavensea @ Oct 26 2016, 11:36 AM) Can play trick like presenting loan rejection letter? I was foolish to follow bank contacts given by agents,. now the agent knows all banks approve my loan isn't there any other way, tribunal? the agreement is not stamped also... |
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SUSbg12
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Nov 1 2016, 04:01 PM
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Getting Started
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QUOTE(mingyew @ Oct 26 2016, 10:45 AM) If the house really have so serious issue, suggest you waste 2% booking fees and penalty fees to terminate your loan. It's more worth your time and effort to grab back your deposit. it is the earnest deposit 2% paid to agent as booking fee. u suggest give up the 12 krm, isn't there any legal way to claim it? |
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SUSbg12
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Nov 1 2016, 04:03 PM
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Getting Started
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QUOTE(axisresidence17 @ Oct 26 2016, 10:42 AM) Very hard lah..looks like oversight on your part also..did not check carefully..you shud get a red flag already when they want to forfeit earnest deposit if not signing snp after certain timeframe. Very rare to get that nowadays. But then again perhaps u worry too much? Was the house beside a lake that u feared it might sink? Are there other sinking cases in the area? I admit my mistake, but can they or law punish me lesser instead say, 1 month rental I pay to agent or owner too... instead of 2% which is too much penalty for change of mind? |
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SUSbg12
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Nov 1 2016, 04:08 PM
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Getting Started
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QUOTE(axisresidence17 @ Oct 26 2016, 10:44 AM) Also for a kitchen its normal for the floor to slant to one side so that water wud flow to the drain no? it's actually counter top, high at center near sink and lower at both sides touching wall agent charge me 3k to redo the counter top, but I refuse the whole hse is painted, gnd 2 rooms tiled changed. one wall in the last room beside kitchen appears like vertical patch up and painted over. agent claims no crack no sinking. during meeting with friend agreed to refund, after that refuse saying house is actually fine, cannot refund |
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