Saturday, September 02, 2006
[RealEdge] TodayOnline Forum : 3% commission was uncalled for
 This story was printed from TODAYonline | |
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| 3% commission was uncalled for Weekend September 2, 2006 Letter from Lim Soo Hui I refer to the letter, "What 1% sales commission means" (Sept 1). My brother engaged an agent to buy a house. He asked the agent to check his eligibility with the HDB, only to find out weeks later from the same office that he was not able to obtain a loan. It was too late by then as my brother had already signed all the necessary documents when he expressed his interest to purchase the flat. His agent advised him to appeal the HDB's decision. When the appeal was rejected, my brother was billed for a 3 per cent agent's commission! How can my brother be asked to sign all the obligating documents and held liable when the loan from the HDB was not even approved? Was it negligence on the part of the agent since he claimed he had checked my brother's eligibility with the HDB but did not seem aware that the loan would be a problem? My brother has only received primary school education, and the legal and financial commitments that would result from signing those documents was not explained to him. He relied on the agent's professional advice and experience. In the end, my brother decided to pay the agent because the latter threatened to sue! | |
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// posted by Shajahan @ 3:22 PM 