So we went to view a house today, and really liked it, decided to buy it, was about to go to the bank for bank loan tomorrow. I think it slipped the agent mind at that time, but when I was requesting a copy of the title deed of the house, she told me that 3 weeks ago the owner's friend came to view the house too, but according to her, they don't seem interested in the house, if not they would've made preliminaries, that's according to what she said.

So anyway, this agent is supposedly told me she will try her level best and put in good words for us to the owner, and to let the owner know we are very keen and have already decided to buy it right away as long as the owner give the nod to the agent. So I'm thinking, since the other party I assume, is still in the process of considering ( since 3 weeks ago ), whereas for us we have already decided and confirm to buy, what are our chances honestly ?

LATEST UPDATES - Called agent just now, she told me that she wants us to place a deposit, and then proceed to get bank loan approval, so I asked her, can I place it now ? She said no, wait for the owner reply, if the owner accepts our deposit, then we can proceed to pay the deposit, so now we are back to square one, still waiting for the owner to give the agent a reply whether or not they wan to accept our deposit.

This post has been edited by Sotsotzaii: Nov 30 2021, 10:05 AM

bull shit technique from the agent

I believed you have offered a much lower price than what the seller is asking and the agent is trying to convince the seller to accept the deal. There is NO necessity for any good words about the buyer OTHER than the price .... which I think the agent said ....and that is an agent lingo.

Buying property is not about match making. Why would a seller want to know his buyer is Indian, Chinese or Malay, married or single, etc.

Seller is ONLY interested to know if the buyer CAN pay .... the basic principle of a sale. If he cannot complete the purchase he can always forfeit the deposit and look for the next buyer.

No agent or seller will give a copy of the title deed to the 'buyer' without signing the Earnest Letter and paying a deposit.

Banks will not normally entertain loan application without the Earnest Letter in a subsale.

Conclusion ....

If you offered the price a genuine seller wanted, he will sell.

This post has been edited by mini orchard: Nov 30 2021, 08:30 AM

Hmm, but the property is at 600k, priced by the agent at 600k. So we did not ask for any nego of the property, does this means that the agent / owner is not keen to sell us the property at it's valued or stated price point, or is all these just a stunt from the agent in order for her to buy time to let the owner consider ? Should I bear any hope to continue to wait further ?

This post has been edited by Sotsotzaii: Nov 30 2021, 09:02 AM

It is unlikely buyer pay advertised price UNLESS there is some real advantages to buy the property irrespective of the askng price. There will be other better properties if the only reason is 'LIKE'

As long owner or his agent has not collected a deposit, a seller is at liberty to change his decision.

Since you are paying asking price, the agent can proceed to collect a deposit and you sign the earnest letter to be forwarded to the owner.....have you done that ?

Dia tipu. Agent want get comission from seller and buyer.

Penipu scammer la...

Ade wang ade rumah.

I'm a seller too.

Who paid deposit first who get the house.

Maybe the seller is not in a rush to sell OR even no plan to sell. Kind of 'cincai anything' seller, just pass key to agent, if price ngam then sell, price not ngam then just continue put up for viewing since the seller does not need to pay anything until a deal is closed.

Btw, agree with above... should not pay advertised price, at least 1K cheaper also make better sense. If u pay at advertised price, this shows u r more eager to buy and u lost ur bargaining power

So macam ni how ? Agent ada highlight cakap, " I hope you know my processing fee of 1% is due to be pay upon SPA signing " of course this one we know, we are ready and prepared to pay for 1% agent fee, so apa masalah ? Memang tipu ke atau betul betul cakap ? So do we wait ? Sebab if agent dont release copy of title deed for us, how we go bank ? We can't proceed with bank unless agent say Ok, u now pay deposit first, then u go do bank loan.

We viewed the house yesterday, decided to buy it, and was plan to go to bank for bank loan today, but yesterday we requested for the copy of title deed of the house to show the bank, but that's when agent told me about there's this other party, who is the owner's friend who viewed the house 3 weeks ago, so owner is now asking his friends if they still interested, if they not, then agent will proceed to give us copy of a title deed, what do u think of all of this ?

This post has been edited by Sotsotzaii: Nov 30 2021, 09:42 AM

TS, u better state ur location, or else will got people shoot y u as buyer need to pay 1% to agent. Coz different state have different 'practice'

Johor Bahru, town area. The house is old double storey semi-D, not newly built.

This post has been edited by Sotsotzaii: Nov 30 2021, 09:45 AM

From your reply.... All is wrong already

You better consult an agent.

That is the agent we are dealing with, and according to this agent, she told us to go to the bank, get a bank loan first, once approved already, then give the bank staff her number, and she will take it from there, that's all we were told. But now the agent is saying another party is considering, which is the owner's friend, so the owner need to ask the friend first if they wan or not, so we are like hanging on air.

If you dah sign SPA, if the seller failed to sell you the house or jalan itu SPA...

Buat report polis. Get a lawyer. Sue seller for compensation. Free money. (Must get a loan approve first)

Tak payah cakap ape title deed la. Go take bank loan. Show SPA. Anything get the agent to get the deed.

This post has been edited by InitialB: Nov 30 2021, 09:49 AM

Yes for this part we understand, but we are at the very start, basically my situation now is, we are waiting for agent to give us the go ahead to go to bank, because now agent say got other party considering 3 weeks ago, so the owner of that property need to ask that other party first, if that other party tak nak, then agent will let us know, then only we can go bank, otherwise we go bank also no use right if agent didn't tell us to proceed ?

1st Post updated.

Just give your ultimation end date to deal or no deal....
No point argue or afraid lose out a good deal.
Just walk out if the seller no give respond.

anyway, is it the agent not direct appointed from the seller?
Some agent work in groups and try earn commission from the appointed seller agents to whoever can find buyer

I think most properly the "said" interested party trying hard to get loan approval, if cannot then fall back to you.
How many banks that interested trying to get loan and how long to "trying" is up in the air if the seller trying hard to help this "third party"

This post has been edited by Iceman74: Nov 30 2021, 10:11 AM

Agent is direct appointed by owner, basically now the agent and us, we are waiting for the owner's reply to whether or not owner want to accept our deposit, because according to agent, owner MUST say whether or not he accept our deposit, before we can even place a deposit, that correct ?

yes cos it the deposit is a binding contract. If seller don't want sell, the agent will get the commission and you will get return of the deposit. Seller will lose the agent commission at very least and may need to pay you whatever cost incurred but all this depending on your "location" way of selling properties.

How the agent get the commission if need to return the deposit is another matters agent need to find way cos seller will surely "reluctant" pay out the commission plus the deposit which make the matter worse. Some agents scare of this situation if the seller not pay them the commission which they entitled since they already done their job.

This post has been edited by Iceman74: Nov 30 2021, 10:20 AM

I see, so now all we can do is wait for agent to give us an update from the owner ?

yes if you insist and really like the house. The seller/agent might play some trick and try hike/jack up the price like bidding war

Take this time and can try look around for better bargain or at least better price comparison for just in case

the market should be in buyer favour now but since it JB, don't know lor

This post has been edited by Iceman74: Nov 30 2021, 10:27 AM

In JB and Penang, buyer and seller have to pay agent's commission .... 1% each.

Is up to the seller who he wants to sell the house if there are 2 interested parties. Logically, he will go for the higher offer price irrespective the relationship UNLESS he dont love money.

Maybe the seller has promised his friend to revert to him if there is another buyer which is what he is doing. He cant wait for his answer forever and any right thinking seller would give a timeframe.

You tell the agent if you dont receive a reply by a certain date, then is no go.

If after the due date and if the house is not sold, then is up to you. If I am buyer, I will make a new offer.

You bagi deadline to agent.

Usually SPA 21 days (3 week)

Apa ranciao 3 week lagi?

Latest update from agent - Wife discussing with the husband ( owner ) on who to let handle the deposit payment, agent or their own lawyer, so means owner already accept to accept our deposit ? Otherwise they wouldn't be discussing let who to handle deposit.

Ur agent making stories only la i suppose...

Booking fees (i.e. 3%) to be paid to agent's realty COMPANY bank account, then balance (i.e. 7% when sign SPA) to be paid to ur lawyer, ur lawyer will settle with their lawyer. I suppose its similar no matter in which states' practice...

Like others said, set a deadline for ur agent. Since ur agent stories' is owner agreed to proceed, then ur deadline set it nearer.

Paying the earnest deposit to a lawyer or agency doesnt matter as long is an independent person.

Legal firm and estate agency have guidelines on how to deal with the deposit.

Is booking fee and deposit the same thing ? Because for me the agent told me it's 2% of deposit to be payable, I thought it was 1% ?

should be the same with the agency accepting the booking fee with both side signed and agreed upon. Both side can request special clause(normally extended timeframe especially if got a lot holiday in those 14 days). You can request in writing in the booking form if gov declare MCO again, can extend the timeframe and so on...

All this need both side to agreed before sign and accept the booking fees money which is refundable in the event cannot proceed that is out of your hand, example local land office not approval and got "sekatan" & etc

Which state got 1% as earnest deposit? normally 2% or in special case 3%

This post has been edited by Iceman74: Nov 30 2021, 03:49 PM

Got a separate question here. I'm about to pay 2% earnest deposit to the owner's lawyer, the agent told me to create a cashier order from the bank, and put in the name of the owner, as i understands it, shouldn't the cashier order be put under the owner's lawyers name ?

As a buyer, you need to engage a lawyer. Ask your lawyer to deal with seller lawyer and the agent.

Seriously .... you need a lawyer now.

Haha, TS really need a lawyer this moment. No one from here can help u ady on ur deposit stuff. Even any advise will not be as practical by having a lawyer to act on behalf of u.

Btw, TS, u confident u can get loan right? If yes, find lawyer
(if not... hints ur lawyer that u might not proceed if loan fails)

Basically the agent will hold on the cashier order on their behalf until their commission are paid cos cashier order are a form of payment confirmation.

As pay to who is very subjective depending on where you are. Normally is pay to the owner name directly which come to the procedure.
You need to get the latest seller SPA to verify the actual house ownership name before hand over the cashier order.
You also need to verify the agent agency is are real too and must get the earnest deposit booking receipt as proof of the deal.

If you uncertain about this whole deal, request the handover in your appointed lawyer office or at least in the agency office.

It all depending can you trust the agent... me got the buyer give me cash thru my agent