Oct 30 2017, 12:23 PM
QUOTE(fun_feng @ Oct 30 2017, 11:34 AM)
Hi all,
What is the process of buying direct from owner?
I know there is a sort-of booking fee form when buying through property agent.
So, when buying from direct owner, I also should put a 1% booking deposit right? In case the owner refuse to sell later...
Do I have to draft out this thing by myself?
What other things i have to look out for?
Thanks!
The process is actually similar but only taking our the agent(middle man) out of the picture and yes, you need to draft out the letter of offer to purchase with all those salient terms to ensure that your rights as a purchaser is protected pending the execution of a formal sale and purchase agreement.What is the process of buying direct from owner?
I know there is a sort-of booking fee form when buying through property agent.
So, when buying from direct owner, I also should put a 1% booking deposit right? In case the owner refuse to sell later...
Do I have to draft out this thing by myself?
What other things i have to look out for?
Thanks!
Terms relating to refund and/or vendor's refusal to process are one of the many.
Since there is no agent involved, the earnest deposit is up to negotiation but I believe the vendor will opt to follow market practice.
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