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Process of buying house, Already stuck at booking form
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TSslothish_teddy
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Mar 9 2023, 11:23 AM, updated 3y ago
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New Member
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After looking at a number of houses, finally came across a house that we really like, but I’m already stuck at step of signing the booking form. For the agency’s credibility, I couldn’t find it in google, but it’s still an active agency in BOVEAP. Should i continue buying the house with this agency? I thought of giving a call to confirm whether this agent still works at the company but now I’m just doubting the credibility of this agency. And about the agent’s credibility, he did tell me that I could cheque in/bank in to his agency company, but the payment needs to be done after I sign the booking form. In my mind, I thought the usual process is that me/buyer and the owner/seller would sit down, look through and amend the booking t&c, and to come up with an inventory list of what the owner wants to take/leave. When both of us are satisfied, then only we sign on each of our booking form, then only I give the 3% cheque to the company. Am I wrong in this?
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TSslothish_teddy
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Mar 9 2023, 08:13 PM
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New Member
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Thanks a lot for the replies, i just worry too much to the point that BOVEAP doesnt give the most updated details whether the agency is registered or not because the 3% deposit is still quite a lot of money.
The owner is still living at his house.
The agent finally agreed to setup an inventory list before I sign the booking form and also mention he will take pictures of it for future attachment with the SPA.
I see.. so that's why the agent is so reluctant about me wanting to meet the owner of the house even though i have repeatedly told him that i need him as a witness for the inventory list. Is there any way to give him assurance that I will still go through him in buying this house?
I really want to go to the owner's house (with the agent) because i want to see the furnitures mentioned in the inventory list for myself, and me taking the pics instead of him. Because.. i dont want to do extra work to remove the broken furnitures in my house, and if the agent is the one taking the pics, it could be any other house's furniture right?
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TSslothish_teddy
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Mar 14 2023, 08:44 AM
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New Member
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ah yep, i havent placed the booking fee yet, i wanted to make sure that the fixtures and fittings is written out black and white before i sign and give the booking fee since this "fixture and fittings" is part of the clause in the booking form.
and just some updates, agent agreed to list down and took pictures of the fixtures and fittings and so we all went to the house again to double check if we really like the house and took pics. Agent probably agreed to do so partly cuz i kept insisting i need the list before I sign as well as getting a lawyer to look through the booking form and also be a witness while we sign the booking form. So.. this part is done.
and just want some opinions about... whether it's normal that im obligated to use their panel bankers? cuz there's this clause "SUBJECT TO ANY BANK LOAN APPROVAL AT 90% MARGIN (WITHIN XX WORKING DAYS) IN THE EVENT REJECTION LETTER PROVIDED BY OUR PANEL BANKER, EARNEST DEPOSIT SHALL......" Or if anyone experienced this and could share so I could decide whether i should also include this into my discussion during signing booking form between me, lawyer and agent. Cuz im just worried im offered a much higher rate or forced to buy both MRTA and MLTA to lower the rate though idk what's the possibility of these scenarios taking place or any other bad scenarios, sorry Im such a anxious person
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TSslothish_teddy
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Mar 15 2023, 12:56 PM
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New Member
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thanks a lot for the reply LazyCat666
and just wondering.. is it normal/safe to use online banking to give the 3% deposit to the agency? as well as the 7% to the lawyer firm?
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