Property agent question?

[Readingbooks]

O

yes I haven sign the otp cause hfe not approved
This also means I can return the $1000 to buyer wo any legal implications right?

Yes correct. Not sure about hdb, but the 1st option fee is to locked in seller only for condo. So dont sign now since its not beneficial to you.

 

[Capitalist]

Yes paynow deposit not cheque

Ain’t that considered acceptance of consideration.

And surely there exists correspondence in support of this, plus your instruction to receive this deposit via Paynow, no?

 

[Capitalist]

Yes correct. Not sure about hdb, but the 1st option fee is to locked in seller only for condo. So dont sign now since it’s not beneficial to you.

Don’t sign also useless - since OTP is only issued by seller.

And buyer already signed and furnished deposit.

 

[V_for_Vanilla]

wtf

Now property agent use this kind smelly tactic one ah

How to reject like that? Instant paynow to your account means accepted ah

Send back la, means instant reject

It is the norm now. Use internet transfer. Cheques no longer used, unless cashiers order.

 

[Capitalist]

wtf

Now property agent use this kind smelly tactic one ah

How to reject like that? Instant paynow to your account means accepted ah

Send back la, means instant reject

I seriously doubt any agent will go and issue an Option without expressed & explicit instruction/consent from the seller.

Hence TS, did you agree on the price and informed that you’re ok to receive the deposit via Paynow .. while being unclear and/or uninformed about the timeline etc?

 

[V_for_Vanilla]

In other words although I received the $1000 which the agent told me is an option fee but did not say that HFE is not approved I am misled to think the next step is justo sign the option which never took place.
I am not legally bound n can take action against the agent if agent refuse to take my $1000 back ? Correct

Receipt of 1k does not equate as acceptance. You can always transfer back the 1k. As long as OTP not signed there is no agreement.

 

[buttbERry]

no HFE no doc no talk la

 

[V_for_Vanilla]

In other words although I received the $1000 which the agent told me is an option fee but did not say that HFE is not approved I am misled to think the next step is justo sign the option which never took place.
I am not legally bound n can take action against the agent if agent refuse to take my $1000 back ? Correct

I think you should seriously reconsider using this agent.

 

[Capitalist]

Receipt of 1k does not equate as acceptance. You can always transfer back the 1k. As long as OTP not signed there is no agreement.

Nope.

OTP is only granted by the seller.

And once accepted by the buyer, with consideration furnished, it binds the seller.

As such, even if seller doesn’t sign, it’s still binding.

If you doubt me, go ask your lawyer and agent friends

 

[Ahboy069]

Ain’t that considered acceptance of consideration.

And surely there exists correspondence in support of this, plus your instruction to receive this deposit via Paynow, no?

There is no black and white that says that buyer is applying for HFE and since I was told to accept the $1000 as option fee narutally I asked the agent can sign the document next day but she just said not yet as buyer still pending advice on her latest marital status which she wrongly filled in the HFE form (I don’t even know she is still applying for HFE)

 

[Ahboy069]

Don’t sign also useless - since OTP is only issued by seller.

And buyer already signed and furnished deposit.

Buyer never sign anything lei

 

[Ahboy069]

Nope.

OTP is only granted by the seller.

And once accepted by the buyer, with consideration furnished, it binds the seller.

As such, even if seller doesn’t sign, it’s still binding.

If you doubt me, go ask your lawyer and agent friends

It is misrepresentation when I was not told HFE is still in progress … if I know which means takes another 21 days then it is a different thing altogether… context is important

 

[Forever84]

It is the norm now. Use internet transfer. Cheques no longer used, unless cashiers order.

Don’t know, last time I sold my place few years ago I still collecting option via cheque

Maybe because amount bigger ba, ppl won’t send like 10k via paynow

 

[Forever84]

Receipt of 1k does not equate as acceptance. You can always transfer back the 1k. As long as OTP not signed there is no agreement.

Sorry but I pretty sure once u accept the option fee it is binding laio. This is why when you receive in cheque form as long u never bank in doesn’t count that it is exercise. Don’t why become paynow lol

 

[chickenpiez007]

In other words although I received the $1000 which the agent told me is an option fee but did not say that HFE is not approved I am misled to think the next step is justo sign the option which never took place.
I am not legally bound n can take action against the agent if agent refuse to take my $1000 back ? Correct

paynow need receiver to click 'accept' button?

 

[Ahboy069]

Sorry but I pretty sure once u accept the option fee it is binding laio. This is why when you receive in cheque form as long u never bank in doesn’t count that it is exercise. Don’t why become paynow lol

Hahah really ah we shall see lor

 

[Ahboy069]

paynow need receiver to click 'accept' button?

No

 

[chickenpiez007]

Nope.

OTP is only granted by the seller.

And once accepted by the buyer, with consideration furnished, it binds the seller.

As such, even if seller doesn’t sign, it’s still binding.

If you doubt me, go ask your lawyer and agent friends

buyer can't obtain HFE simi binding also no use.....

 

[chickenpiez007]

It is misrepresentation when I was not told HFE is still in progress … if I know which means takes another 21 days then it is a different thing altogether… context is important

if not wrong OTP valid for 14 days?? can't remember exactly......dispute date of money into your account and and approved HFE date lo....HDB will invalid the transaction since did not follow proper procedure....buyer did not obtained approved HFE within 14 days how can it be your liability.....

 

[Forever84]

Hahah really ah we shall see lor

You send back lo, say u reject and he accepted