My Exclusive

Good noon guys , I am back for more insight on my exclusive client. According to my client finacial status, we decided to do "Contra" as the flat they are selling had been fully paid.

Doing contra is the process of submitting the buying and selling contract at the same time to HDB. As the sales proceeds of the selling house takes one week to credited back to the CPF, to be ready for deduction on the bought flat. If the CPF is not ready, the whole transaction will be void by HDB and may cause agent into lawsuits as the transaction is not handle properly.

We had post advertisements of the house on various media such as internet and newpapers awaiting for potential buyers.

In the case that buyer is serious in buying, we would carry out O.T.P . Option to purchase is a contract that bonds the buyer and seller for 2 weeks. During this period of time, the buyer must deposit a maximum a thousand dollars. These contract gave the buyer the rights to withdraw or proceed. If withdraw , the deposits will be forfeited.

In the case that they want to proceed, we could reach the 2nd stage which is known as "Excercise Option". To excercise option, the buyer had to deposit up to maximum of four thousand dollars. In short , for the O.T.P to be carry out, a maximum amount of Five thousand Dollars is transacted for this contract.

I am now awaiting for this potential buyer and when it reached the stage of excercise option.
The case should be considered almost close and its the only matter of time that the HDB approve this transaction.

Keep you guys posted again next week!

Jack in Real Estate

FDM N704(Terminal 3)

Having a good day everyone?
I hope you all do.

I shall introduce myself, My name is Jack , 24 years old , full time student of Temasek Polytechnic year 2.2 and my faculty is Diploma in Facilities Design and Management. I would consider myself lacking behind time as I compare myself to my circle of friends as they were already making "Money" and building their career while I would only be a diploma graduate when I turn 26. I knew I had to do something to solve this problem of mine! I need something which had time flexibility and high profit makings. The industry that fulfills my criteria is "Real Estate".

I consulted my friends whom are in the industry and I decided to join DennisWee Group. I was recommended by Daniel and he was an Associate Director. He convinces me that they provide very professional training to educate me on Real Estate and he would personally trains and guides me along the way.

After graduated from my 1 month course during my school holidays, I was eager and looking forward for my 1st deal. I have to create opportunities thus I do cold-calls, distributing name cards, post advertisement online and papers.

On 28 September 2008, I receive a call and it was my friend who is selling his HDB flat at Sengkang and I immediately arrange for an appointment that evening. Me and Daniel went to the house to understand his financial status and did a presentation to educate him the advantages of engaging an agent. He trusted our sincere services and sign an sole exclusive with us.

***Exclusive is a contract between the seller and the agent. It give the agent the sole rights to market the house. The advantages of engaging an agent saves you the hassles of answering so many phone calls from agents and direct buyers. Your Agent will also protect your reserve price in selling the flat and handles all procedural forms of work smoothly.

to be continue...