THE recent rush to buy properties has spawned a record rush of complaints about housing agents – but it has also become obvious that some homebuyers have been setting aside caution in their eagerness to buy.
“We have received complaints even from educated people who sign off at the end of forms without reading them and with nothing filled in. It’s just like signing a blank cheque,” said Singapore Accredited Estate Agencies (SAEA) chief executive, Dr Tan Tee Khoon.
In the last two months, the SAEA received a record 141 public enquiries, feedback and complaints – almost equivalent to the 144 it received for 2006 and 2007. Dr Tan attributes this spike in feedback to recent exuberance in the market. About 20 per cent of the 76 cases reported to SAEA last month were commission disputes. Another 20 per cent were complaints regarding the behaviour of property agents.
Of the latter group, half pertained to agents who did not give buyers a financial plan. But regardless, many of these complainants would have signed the Resale Checklist from the Housing and Development Board (HDB), which confirms that the agent has gone through various procedures with them – such as informing them of their eligibility to buy and what they need to take up a HDB or bank loan. Continue reading
Lush Dream Home 