:come into Dr Love's little world:
Thursday, December 20, 2007 || Dun be Conned by Seller's Agent
Buying HDB flat? You don't need to pay seller's agent
Case gets more complaints from buyers without agents who are misled into paying such commissions
By Tan Hui Yee
MANY HDB flat buyers who bypass estate agents to make their purchases are still being fleeced for thousands of dollars in commissions - by the sellers' agents.
The Consumers Association of Singapore (Case) has received a growing number of complaints from home buyers who were unaware they are not required to pay the fees but who were misled into coughing them up.Independent buyers complain that the sellers' agents inform them they have to pay the commissions just before the purchase documents are signed. This leaves the buyers with little time to find out their rights.
The buyers, in fact, can opt out of paying the fee - usually 1 per cent of a flat's price - if they say upfront that they will not be using the agent's service. This means the buyer will have to do the paperwork himself.
Case received 85 complaints about the payment of commissions last year, up from 60 the year before. In the first two months of this year, 11 such complaints were received.The complaints are rising at a time when more buyers and sellers are choosing to deal without agents.
According to the Housing Board, 3 per cent of last year's 31,000 resale housing applications - about 930 deals - were made via its online e-Resale system, which caters specifically to buyers and sellers dealing without agents.The figure has gone up from 2.5 per cent in 2004 and 2 per cent the year before.
Property agencies say more buyers than sellers usually choose to go it alone.The Institute of Estate Agents receives an average of 30 inquiries a month on the payment of commissions.There is no law fixing the fees to be paid to agents for property purchases. Agents hired by HDB flat sellers tend to charge independent buyers a 1 per cent commission.
This fee is usually not levied on those buying private property independently. The managing director of C&H Realty, Mr Albert Lu, said this is because there are more restrictions on people buying HDB flats - on their age and marital status, for example - and therefore more paperwork to process.The assistant vice-president of property agency ERA Singapore, Mr Eugene Lim, added: 'Ninety per cent of HDB flat buyers don't have the time, or don't know the procedures. The agent has to walk the buyer through the whole process.'
But buyers like Ms Jessica Tee, 32, beg to differ. The bank manager and her husband, who bought a four-room flat in Pasir Ris last year for $250,000, said they were misled by the seller's agent into paying the fee.The agent asked them to sign an agreement stating that they would pay him the fee while sealing the deal for the flat.
Ms Tee said: 'It didn't feel very right. It was a bit strange, because he didn't represent us. But he said it was procedural.'They gave him the benefit of the doubt and signed the form, only to find out later that it was optional. Ms Tee said she would have done the paperwork herself if she had known beforehand that a fee was payable.
Both Case and the property agencies approached - ERA, C&H and PropNex - stated that agents have the responsibility to make it clear to independent buyers upfront that they would be charging a fee.But Mr Lu conceded it was unlikely many agents would voluntarily tell buyers they could opt out of paying. He advised buyers to broach the topic before agreeing to the deal.
Case executive director Seah Seng Choon stated: 'Home buyers should not pay a commission if they have not consented to using the service of the agent.'
Everyone, this is a classic example of "not finding out the details" before you jumped into something. Recently, I also bought a flat. I decided that since I will become a property agent next time, let me just find out all details, and practise. Like the victims mentioned, the Seller's agent also tried to get 1% from me.
I questioned her, "From my HLE appeal, to my viewing of 10 flats, to Housing Grant appeal, I dun tink you help in any way. So what have you done to deserve the 1% from me?" The only thing she did was to negotiate the COV from the initial request of $25k, to the finalised $18k. From that and the rest of the paper work, I agreed to give abt 1/5 of the original 1%, mainly due to the price negotiation.
Hisashi Mitsui |12/20/2007 08:12:00 PM
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Sunday, December 16, 2007 || Have you ever thought abt how to get over Breaking up?
"It doesn't really matter how many parties you go to, how many drinks you have, how many gyms you join... but every night you go to bed, the same details of that awful breakup re-play in your brain over and over again in a split second... And you go out and meet someone who makes you feel worthwhile again... then you start to think more abt yourself, less abt the past relationship, before you have the courage to even date someone..."
When I heard it, what I said was "wow"... but it is true... and probably what I been thru a year plus ago... I guess getting over a breakup is something which a lot, or all of us been thru at least once in our lifetime... Being Dr Love, dun necessarily protect me from the awful feeling.... But somehow, I think what was said is mostly right... The best way to quickly get over the feeling of breaking up, is to someone who makes you feel more worthy again... Need not be someone whom you can go after or something, preferably someone whom understand you... close, and easy to talk to... basically, set things in perspective again... Life is not just abt being with someone... but finding meaning in what you do... But everyone needs help after they broke up... So frens, if you happen to be able to help in something like tat, pls do... for you never noe when u might need help yourself...
Hisashi Mitsui |12/16/2007 12:36:00 AM
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Wednesday, December 12, 2007 || Why is there such a stupid thing as wisdom tooth?
Yst, I took out 2 wisdom tooth on the left side of my mouth... and I tell u the experience isnt at all, pleasant. It is torturing... And to think that I have to go thru it one more time next mth for my right side give me the creeps...
My left face cheek is now swollen like a pig... And I have to eat just on one side of my mouth so as not to affect the wound... Goodness...
Ladies and gentlemen, can someone explain to me why is there such a torturing and stupid thing such as wisdom tooth?Becos it is going to cause me pain eventfully, I have to remove it... But in the midst of removing it, I go thru lots of pain too.... so what the heck... Life is filled with the weirdest things, and this I tink is one of them... KNS ah !!!
Hisashi Mitsui |12/12/2007 07:24:00 PM
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Sunday, December 09, 2007 || What / Who do you live for?
So have you ask yourself the magic question? I know of some frens who are willing to do anything for someone they love... Sometimes, even things which they know is harmful to them... I ever read articles abt girls who became prostitutes just to pay off the husband's gambling debts... Is it worth it? Helping this one person whom claimed to love you, but not do enuff to keep you out of trouble or danger.... What abt this thing called, "Being used", or lies... Sometimes, I guess things are not as simple as it appears to be...
For me, I am a more rationale person... I will only do things worth doing... true, there are many things who yearns tangible rewards such as cash... But some of the things worth doing, could be for intangible things like, friendship... So at the end of the day, I guess you should ask yourself, is he/she worth what you going to do, or is the reward of this deed worth it?...
Hisashi Mitsui |12/09/2007 10:08:00 PM
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Saturday, December 08, 2007 || The Price of Technology
Second item is a Digital Camera from Casio Exlim... I must say cameras are getting cheaper and cheaper... Just a few yrs ago, I got one with 3.2 MegaPix at $499. This new one I bought, a simple point and shoot cam, cost only $330, and it has capable of 7.1 MegaPix. I have given up trying to keep up with the price of such technology, but is still pleasantly surprised at how cheap technology is becoming... Then again, it also means my existing laptops, comps, and cameras are probably worth close to nothing now.... so it is a double-edged sword... Guys are suckers for technology and gadgets... but with technology moving so fast now... I really wonder how many guys who are earning as little as me are keeping up with the trend and technology...
Hisashi Mitsui |12/08/2007 09:28:00 PM
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Friday, December 07, 2007 || One Hell of a Month for me
It has been a hell of a month... it is disgusting, angry, and most of all, enlightening...
The organisation is filled with a few capables, and many incapables...
and that's how the system is built to be... well, at least at the top and middle management... other organisations usually built ard capables... the capables get rewarded... the non-capables get sacked... but that is just not the case in my organisation... well, least i got options... over the past 1/2 yr, I have been taking a cse from SHRI... it is both enriching, and eye-opening... it changes my perspective, abt the world outside mine...
My choice has become clear... after so long, my own desire did not show itself tat much, except my strange urgent desire to take the course... The failure of the system, to tolerate fools at management level is something I think I dun wan to live with.... Bad workers i can tolerate, but not bad leaders.... Monocracy is something which every success organisation should NOT hv... Becos no ONE person is the greatest and have a correct and best opinion abt everything... that's my take...
Hisashi Mitsui |12/07/2007 11:47:00 PM
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