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About 2 months ago a seller had verbally agreed to sell their flat at $600k to us but now back out and re-advertised his flat at a price of $720k. Does it make sense for the price difference to be so drastic for a 4 room flat and what recourse does a buyer have if the seller choose to back out in a verbal agreement? Seriously I feel that the agent has not given her client sufficient advice on the flat pricing, resulting in the waste of time from a buyer's point of view.
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2 Answers

Mike Lim
Replied
Evenig Ms. Tan,

Although there are cases where verbal agreemens are held up to account, it's unlikely so for S&P of property. As long as the seller does not issue you with an Option, the seller have all the rights to market the unit. I would deem that your servicing agent will be able to assist you to the fullest.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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  • TS
    Replied
    Hi thanks for the advice. I agree that the seller has all the rights to decide who to sell the flat to. However I feel that the advertisement price is misleading and as a buyer, we are at the mercy of the seller and his agent. Definitely the agent will have an important role to play in advising her client the 'right' price to market his flat and not just pluck in any figure. Now I really have second thoughts about the accuracy of the selling price shown in any such advertisement, which is subject to change according to the mood of the seller. By the way a $120k price difference is way too drastic just within a few months.
Aaron Chong
Replied
Hi Ms Tan, such issues are very common and we do not take any promise at face value. Probably you could be right that the seller agent is wasting your time as that agent could be a newbie to this line. Pls feel free to let me know if you need any assistance.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More
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