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Did the listing agent explain the process to you on what is being expected of when you submit a bid? Or did you ask any questions to the agent prior to submitting a bid to find out how it works? The key thing is not about demanding the 1% in 10minutes, but rather this could be because there is another buyer who is willing to make a bid that matches or even surpasses your bid and provide a cheque together with the bid that secured the deal. The above is just purely my speculation but I believe that explanation has to be done prior to this process and if there is anything you are unsure about, you should also ask. It could also be a blessing that you did not have to continue dealing with this agent whom you feel did not acted proper. Read More

Hi Sir/Mdm,

Usually for such cases, I will assist my client to put in a Letter of Offer stating the price and terms of condition of the sale. I will also get my client to increase the paynow limit beforehand as it takes some time for the limit to be increased.

Once the offer is accepted, the owners will sign on the Letter of Offer and the OTP is issued subsequently. Please feel free to contact me if you need any further assistance.

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020/2022/2023
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“We have the privilege to work with Nick on our recent house purchase and we are extremely grateful for all the help he rendered to make the purchase a seamless experience!

Nick is attentive to all the requirements we have for our purchase and in the short span of time, he was able to provide us with potential shortlisted units that meet our criteria. (A big lifesaver for family with young kids and limited availability!) When conducting a viewing, Nick is highly proactive as he can be seen taking notes, asking questions, checking the conditions (that we missed or never thought of) and etc.

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Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, it is not a norm to ask for the deposit in such a short notice and in most cases, I would give a 1 to 2 days time frame to the buyer to prepare.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Norms in Property Transactions:

It is unusual to demand a 1% payment within 10 minutes without prior notice or preparation.
Typically, the OTP should be issued before or simultaneously with the payment of the 1% option fee.
Payment methods usually include cheque, bank transfer, or PAYNOW, but sufficient time and information should be given to the buyer to arrange funds.
Key Points:

The seller’s demand for immediate payment without prior notice is not standard practice.
It is unusual to pay 1% without an OTP.
Ensure you have clarity on payment methods and timelines before participating in a bidding process.
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