Every time an Offer To Purchase/ Offer Letter is signed by both parties, it’s a good thing! And today is one of those days!
Yesterday evening a viewing was arranged for a unit on my list at Hijauan Puteri, Puchong. The family was looking to buy initially for investment, with a high potential to stay there in the future. I wasn’t sure how they felt about the place, though it seems promising. Last night itself an offer was made, but since the owner is living in another time zone, I couldn’t get their answer until today.
The first initial offer differed much from what the seller wanted. When I conveyed that to the buyer, it was realised that the initial sum was miscommunicated by RM10k! When the accurate sum was offered, the seller accepted the offer! Since the seller is not in the country, the Offer Letter was signed by the seller’s relative (with authorisation given).
If only all transactions would go by this smoothly! : )
But this is only the initial stage. If you’re wondering when a real estate negotiator/agent actually gets their commission, it’s only once the S&P becomes unconditional. That is the conditions of the S&P are met. Ie: developer consent given (for properties without titles) and state consent given (for leasehold properties, or freehold properties with conditions). In the meantime the deposits are safely stored with the stakeholder until further notice.