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Hi, I can understand your frustration and you are not alone. In this case, I would suggest that you move on by skipping this unit and choose the next one.

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

There is no basis to do so to be frank and this is becoming more common with the market shift over the last quarter where we see more owners adjusting their targets in line with this market shift. I have personally experienced this in my own purchase too, as well as the units I am marketing where owners shifted the price upwards not by $10k but more.

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Regards,

Geryl LIM
Consultant - Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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Hi,

It is unfortunate to hear this.

However, there was nothing wrong with the process under eye of legality.

(1) Seller list price is consider as "Open to offer".
(2) You had offer to buy, and follow with a consideration (in legal term).
(3) Seller can decide to "Accept" or "Decline" your offer.
(4) If Seller "Accept", seller will sign and return OTP.

By asking for a COV ($10k), Seller is counter-offer your offer.
Thus now the ball is back to you, you can either "Accept" or "Decline".

If you "Decline", you shall collect your cheque back and move on.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

Note:
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Hi,

I am sorry about your predicament, but I wish to highlight to you that, as long as the Sellers did not "sign and issue" you the OTP or bank in your cheque, they do reserve the right to reject your offer, even if you had given the 1% cheque.

This is a common scenario, which is especially so during an up-swinging market. In such situation, the Sellers do not have a lack of offers, and will be keen to sell to the highest bidder.

I suggest that you could explore working with a "Buyer agent", who could act for your interest in your property purchase.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Like everyone here has said, UNTIL THE OTP IS SIGNED, the seller can change / counter offer the price.

There is no law against that, unfortunately.

You did mention that the price was AGREED. Between you and seller?

Do you have any email correspondence where the seller stated clearly they agree and accept the said price?

If you do, talk to a lawyer. there may be a little hope there.

Otherwise, i would say, move on. There will always be another equally good, if not better unit available.

This may be a blessing in disguise.

If the seller has AGREED but backed off, too bad, FOR HIM.
he may not find another buyer if he continues to do this trick.

Buying property is a Happy occasion. Don't let one rotten egg spoils this wondering journey to home ownership.

I am happy to help you with your purchase.

Do contact me.

Steven Wang
OrangeTee & Tie
khim.wang28@gmail.com
 91695023  Read More