reporter2
13-09-16, 19:46
http://www.straitstimes.com/forum/letters-in-print/condo-booking-fee-paid-but-second-viewing-not-allowed
Condo booking fee paid but second viewing not allowed
Sep 6, 2016
My husband and I recently bought a completed condominium from CapitaLand.
After paying the initial booking fee, we asked for a second viewing to decide if we should exercise the Option to Purchase (OTP).
This was not possible.
We later decided to exercise the OTP, as we had already paid the booking fee.
We asked again if we could have a second viewing, thinking that this was a reasonable request.
Again, we were turned down.
I cannot see any reason for the developer rejecting a request for a second viewing by the buyer.
I understand that this is the standard practice with all big developers in Singapore.
Making home inspections after the booking fee is paid is not uncommon in other developed countries.
Buyers are expected to buy the property on an "as-is-where-is" basis and, therefore, should be given the opportunity to inspect it as part of due diligence.
The law in Singapore is silent on whether a buyer has the right to request a home inspection after the booking fee is paid or whether the developer is obliged to meet this request.
As most big developers here are doing the same, it seems there is nothing a buyer can do.
This creates a "buyer beware" market and does not reflect well on Singapore's property sector.
Eileen Ng (Ms)
Condo booking fee paid but second viewing not allowed
Sep 6, 2016
My husband and I recently bought a completed condominium from CapitaLand.
After paying the initial booking fee, we asked for a second viewing to decide if we should exercise the Option to Purchase (OTP).
This was not possible.
We later decided to exercise the OTP, as we had already paid the booking fee.
We asked again if we could have a second viewing, thinking that this was a reasonable request.
Again, we were turned down.
I cannot see any reason for the developer rejecting a request for a second viewing by the buyer.
I understand that this is the standard practice with all big developers in Singapore.
Making home inspections after the booking fee is paid is not uncommon in other developed countries.
Buyers are expected to buy the property on an "as-is-where-is" basis and, therefore, should be given the opportunity to inspect it as part of due diligence.
The law in Singapore is silent on whether a buyer has the right to request a home inspection after the booking fee is paid or whether the developer is obliged to meet this request.
As most big developers here are doing the same, it seems there is nothing a buyer can do.
This creates a "buyer beware" market and does not reflect well on Singapore's property sector.
Eileen Ng (Ms)