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sassy
Joined: 24 Jan 2008
Posts: 1
on 24 Jan 08 9:53 am
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 Entering into a Bidding War |
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Recently we had viewed a unit and was pleased with it. We called the seller's agent to offer. Agent informed us seller accepted our offer. Agent informed he will arrange to sign OTP. 2 days passed and agent called us back saying he has a higher offer by a man who went direct to seller without his knowledge. He asked us to counter offer. We did. Offer again accepted. 1 day later, we called agent and found out that the man had contacted seller directly again and somehow he knew of our counter offer and he'd like to view the flat 2nd time to make a counter offer. We would not have known this if we have not called the agent. Agent informed he will try to stop this.
This agent is representing both the seller and us. He should be fair to both parties. We had made 2 formal offers which were accepted twice. What we lacked was the OTP which we are already prepared to sign and also to exercise the option.
Can anyone tell me is the agent trying some tricks up his sleeves to inflate the offer? Has anyone have similar experience? If this falls through, I will be lodging a complaint with IEA, HDB and his company. |
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Fair to all
Guest
on 25 Jan 08 3:23 am
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From what you have said, I feel the agent is telling the truth.
Things could have worked differently if after knowing your first offer had been countered, arrange with the agent together with your option money to get the seller to issue you the OTP.
In the first place you did not give a formal offer by giving the option money to the seller in which case the OTP would have been given.
It is pointless to complain in this case because no option money is offered and no OTP is given |
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Guest
on 30 Jun 08 11:35 am
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| You should ask the agent to prepare an "Offer To Purchase" with your offer. If the seller accept the offer, they will sign the "Offer To Purchase" or issue an "OTP". As a buyer, you will know it is the agent or the seller who is playing the "tricks". |
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Guest
on 30 Jun 08 1:12 pm
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| Reject and buy from elsewhere. Move on. |
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