I booked an unit in a new launch project. Done processing my loan and finally get approval.

Now the thing is when i visit the sales gallery and ask about the upfront payment i have to pay when sign SPA, and they go through the prices with me again.

And now I found out that my agent gave me the wrong nett price on my booking form. As I am entitled in a 10+5% rebate, the agent calculated the nett price 15% deducted straight away from the SPA price, which it is supposed to be deduct 10% then deduct 5% again. And the different between the actual nett price and the wrong nett price is around 7-8k.

I kept all the booking form black and white signed by me and the agent.

Any advices?

p/s: the agent service is horrible, and I am really not satisfied with his services.

So long you have the lower net price in black and white, they should honour it.

A genuine mistake doesnt mean that they have to honour 7-8k .... but I think you should be given some rebate for the 'mistake'. Talk to the manager and have it sorted out. Come to a compromise. Someone is gonna pay for the rebate.

This post has been edited by mini orchard: Nov 17 2020, 08:18 PM

Booking form signed by purchaser and agent alone is not valid. It needs to be signed by purchaser and seller/developer. If it is signed by all parties, then the booking form is valid and enforceable

I wonder whether we are having the same agent... i also facing this issue right now and my agent havent come out and settle with me

Correct. Cos the purchase is between purchaser and developer. Try talk to developer's management.

Either You do not know the law or plain stupid. Understand the principle of agent and principal.

Do You know You will be EXPOSED to legal suits For negligent misrep If You give Wrong advise to whoever rely on your statement? If You not familiar seek legal advise

You See the effect? When a Lay person do not know about the law, and they think this is Correct. Then alot of victims will fall For this. Perhaps innocent buyer should take legal action against person who misrepresented man on the street.

Simple I tell You What. Just send a text “Since You are not replying, I will pass this issue to My Lawyer to Handle. Anything After this You deal directly with him. I will not entertain You.” Thank me Later

I'm not sure why you can simply say people do not know the law. Are you a lawyer?

For project sales, any agreement signed is between the Developer and the Purchaser. Agents are engaged to facilitate the sales and process. At most, agents are there to be the witness between the 2 parties. If the form is signed by a agent, only the agent is liable for any wrongdoings and not the developer. Of cos you can argue this at civil court by engaging a lawyer.
For developer, when they engage an agency to market their development, the appointed agency normally will have to sign the appointment letter which state all the terms and conditions and some developer even go to the extend of getting them to sign of ABC policy (Anti bribery and corruption policy).

I have been dealing with a public listed developer recently and I can assured you that a reputable developer would not let a 3rd party sales agent to sign on their offer letter with their purchaser.

I hope this clear any doubts. As a REN, I can easily give advise for public to simply sue a developer, but do you know how much time and money it would cost to do so? If it can be settled peacefully with the developer just by talking to them first, why not? If they are not willing to help, then only seek legal advise. No?

I am not trying to make any argument here but to explain in my best possible way. If i offended anyone here, I apologize in advance.

There is no need for these Kopitiam type of talk or shouting here. Yes, there is such thing as agent-principal. But in property transaction, the agent never signs on behalf of the seller/vendor/developer. He only signs as a witness for the purchaser's signature. So to test your brain skills on Contracts Act, you only have a one-sided offer which was not accepted yet. If the booking form is signed by all parties which is the buyer and seller, then yes the buyer is entitled to whatever is written in the booking form/offer/contract.

Next time, leave your Kopitiam talk at the Kopitiam

He thinks he know a bit of law and hence he is always right.

Would like to ask if this 7k to 8k worth the property as much as you like it? If you are so think that this 7k to 8k not worth n very critical in the decision making, then anytime you can let go the purchase.
(As long you havent sign the SPA)

If booking form from agent is not valid, then the developer can just ignore any booking for whatever reasons .....

Can another buyer just proceed to book the same unit through another agent while pending loan approval as per ts case ? Just ignore the pricing rebate issue.

This post has been edited by mini orchard: Nov 20 2020, 06:53 AM

that's why developer will be the one to sign on the booking form and not the agent. Normally it's the sales manager to sign on it. Agent at most sign on the part where they are the salesperson. Acceptance of the booking still under developer.

I dont think you answered my question ....

Can two or three person book the same unit if developer has not sign all the forms ?

This post has been edited by mini orchard: Nov 20 2020, 09:11 AM

Oh sorry.. i think i missed it. Here's another reason why it's not valid if its not signed by developer. Cos there might be multiple agents selling the same unit. So until the booking is accepted by developer, the sales is not confirmed yet. That's my understanding on project sales when dealing with developers, no matter big or small. This is to avoid conflicts when selling. And now to solve this issue, there's some companies who offer solution to this. Online booking. With this, sales agent can book online via a live system. real time availability. Once developer received all the necessary booking fees and documents, they will block the unit.

Hope this explain your question.

If someone is a cash buyer, he can just overwrite another buyer's unit who has paid a booking fee to the agent pending loan approval?

If what you said is correct, then why are buyers charge admin fees for any cancellation booking if is not sign by the developer ?

in my knowledge and experience, it doesnt matter if you are a cash buyer, commercial loan or govt loan. As long as both purchaser and developer signed on the booking forms, it's subject to the terms and conditions agreed as stated in the forms.

for the second part of your questions. Sorry to say this but trust no one but the terms and conditions in the paper that you signed. Sometimes sales agent want to avoid the risk of losing they sales they will say anything to the purchaser. As a purchaser, know what is your right by going through the documents signed. Any doubt please ask the developer (manager in charge) for clarification.

But after all these questions posted. Can I clarify again on the "sales agent" side? The sales agent that you mentioned, is he/she from developer own sales team or 3rd party agencies appointed by the developer? Cos the answer I gave are based on 3rd party sales team appointed by developer.

This post has been edited by YeohKW: Nov 20 2020, 10:52 AM

Again, you are not answering the question ...

If someone is a cash buyer, he can just overwrite another buyer's unit who has paid a booking fee to the agent pending loan approval?

YES / NO

If what you said is correct, then why are buyers charge admin fees for any cancellation booking if is not sign by the developer ?

Booking fee goes to who ? ..Developer or agency ? Who issue tbe refund ?