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 Agent stated wrong price in Booking form

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YeohKW
post Nov 18 2020, 08:41 AM

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QUOTE(e-lite @ Nov 17 2020, 08:54 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
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Correct. Cos the purchase is between purchaser and developer. Try talk to developer's management.
YeohKW
post Nov 19 2020, 11:05 PM

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QUOTE(airtawarian @ Nov 19 2020, 10:12 PM)
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.
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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.
YeohKW
post Nov 20 2020, 09:05 AM

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QUOTE(mini orchard @ Nov 20 2020, 06:51 AM)
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.
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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.
YeohKW
post Nov 20 2020, 09:46 AM

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QUOTE(mini orchard @ Nov 20 2020, 09:06 AM)
I dont think you answered my question ....

Can two or three person book the same unit if developer has not sign all the forms ?
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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.
YeohKW
post Nov 20 2020, 10:51 AM

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QUOTE(mini orchard @ Nov 20 2020, 10:17 AM)
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 ?
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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
YeohKW
post Nov 21 2020, 02:06 AM

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QUOTE(airtawarian @ Nov 20 2020, 02:56 PM)
Perhaps you should get advise from professional. Understand What constitute a booking form? By the way, Just to inform You booking form sign by agency is legal under the law. Do You Even know that? When You are working with bhd co., Did Your management inform You it is illegal to collect deposit from purchaser under the booking form? There are So many things Done by developer Which has been reported by case law under appellant Court. Sometimes You need Come out from Your working zone and dont blindly follow whatever they ask You to do. Think think and think
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All booking fees are paid directly to developer. I think the developer you mentioned above are those who has wrong doing done to you. I’m not sure to what extent the damage has done, but it seems like you are here to complaint rather than to discuss.

U keep accusing others for being unprofessional, so if you don’t mind, can I know what’s your background then? A lawyer? A developer? Agent? Or any other professional? Maybe you can share with us on your professional opinions rather than just pointing out on others.

We are all here to share and discuss things. Everyone has their fair experience in property to share about here. To me, I just read and reply whenever I know the answer. Else I will just read and learn and not keep complaining.

 

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