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View Full Version : Seller Back Out How?



hazel
30th October 2009, 10:33 AM
If one has placed a $5k deposit to excercise option and later realised from HDB that the seller is not eligle to sell their flat, how can one get back the $5k deposit

myong406
30th October 2009, 10:48 AM
http://www.hdb.gov.sg/fi10/fi10201p.nsf/WPDis/Buying%20A%20Resale%20FlatOption%20to%20Purchase%2 0for%20Resale%20Transactions?OpenDocument


i read this on the HDB website. not sure if the link works but from what i read, it says there's a contract signed once the deposit is made. so i suppose it depends on the limits of the contract, on whether or not u can get back ur deposit. worse case, just leave the deposit there and get another flat instead

hazel
30th October 2009, 12:16 PM
http://www.hdb.gov.sg/fi10/fi10201p.nsf/WPDis/Buying%20A%20Resale%20FlatOption%20to%20Purchase%2 0for%20Resale%20Transactions?OpenDocument


i read this on the HDB website. not sure if the link works but from what i read, it says there's a contract signed once the deposit is made. so i suppose it depends on the limits of the contract, on whether or not u can get back ur deposit. worse case, just leave the deposit there and get another flat instead

the $5k is with the seller now that they cannot sell the flat they should return the money but the problem is with the agent. he said for his work, he deserves some cut even though the transaction is not through. i don't think it work this work right.

myong406
30th October 2009, 12:45 PM
the agent should not be like this. he/she shld only get a cut if the deal is 100% processed and complete. if the agent insists that he/she gets commission for an incomplete deal, i think u can take it up to his/her boss or even hdb.

hazel
3rd November 2009, 04:59 PM
the agent should not be like this. he/she shld only get a cut if the deal is 100% processed and complete. if the agent insists that he/she gets commission for an incomplete deal, i think u can take it up to his/her boss or even hdb.

yar this is really silly i think the agent and the owner is in cahoots. they are still holding on to the deposit citing reasons that only when the agent confirm can release then they will release the payment. they said anything speak to the agent.

i'm giving them another week to return the deposit otherwise i will bring it to the authorities.

myong406
3rd November 2009, 05:20 PM
i really hope they dont plan on cheating you on your deposit. there have been so many cases where innocent people get played out by those evil scum. they will come up with so many creative methods to steal your money at all costs. get to the authorities soon, before its too late

hazel
4th November 2009, 08:48 AM
i really hope they dont plan on cheating you on your deposit. there have been so many cases where innocent people get played out by those evil scum. they will come up with so many creative methods to steal your money at all costs. get to the authorities soon, before its too late

getting your own dream house should be a happy thing but all these nuisance are making people so sceptical of housing agents.

myong406
4th November 2009, 03:45 PM
i feel that housing agents are in the industry just to make money. i mean the rewards in this business is good, so those agents will be having their eyes on the money, rather than the best interests of the clients. especially nowadays when the economy is still weak, they want to remain on top in terms of salary. furthermore, they are fighting to become best agents in their respective agencies.

so i think that these kind of fraudulent activities are rampant..

hazel
12th April 2010, 08:32 AM
i bought my resale flat at tampines. everything went smoothly. i'm so glad that finally i can start to build my dream home slowly.

milooi
16th April 2010, 11:57 AM
i bought my resale flat at tampines. everything went smoothly. i'm so glad that finally i can start to build my dream home slowly.

COngrats on your dream home Hazel :) can't wait for my first home.

hazel
20th April 2010, 11:40 AM
making in the progress or still hunting?