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

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

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

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

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