sunset.dolphin 0 Report post Posted April 8, 2009 Hi my husband and i intend to sell our 4 room flat. both of us are the house owner. Our agent is from ERA. But the exclusive agreement only bears my husband signature. So is the exclusive agreement consider valid? If i intend to look for another agent from other property company, do i still have to pay ERA commission after i sell my flat ? Another question is... i bought my flat at $240k, if my 4 room flat valuation is at $290k, how much cash can i take back? Please help...... Thanks Share this post Link to post Share on other sites
sfhuang 0 Report post Posted April 8, 2009 Hi my husband and i intend to sell our 4 room flat. both of us are the house owner. Our agent is from ERA. But the exclusive agreement only bears my husband signature. So is the exclusive agreement consider valid? If i intend to look for another agent from other property company, do i still have to pay ERA commission after i sell my flat ? Another question is... i bought my flat at $240k, if my 4 room flat valuation is at $290k, how much cash can i take back? Please help...... Thanks Once any of the owners have signed the exclusive agreement, the owners will have to honor it. It's a legal contract. You cannot look for another agent until the agreed timeframe is over. For your other question, the amount of cash you can take back is the sales proceeds minus (1) the amount you withdrew from cpf (with accrued interest) to pay for the loan and (2) other expenses e.g. loan settlement penalties if any. Share this post Link to post Share on other sites
Stagger 0 Report post Posted April 13, 2009 Hi my husband and i intend to sell our 4 room flat. both of us are the house owner. Our agent is from ERA. But the exclusive agreement only bears my husband signature. So is the exclusive agreement consider valid? If i intend to look for another agent from other property company, do i still have to pay ERA commission after i sell my flat ? Another question is... i bought my flat at $240k, if my 4 room flat valuation is at $290k, how much cash can i take back? Please help...... Thanks I guess as long as one of the owners signed the EA, it should be valid. this doesn't apply to OTP which all owners must sign. What I understand is that if you are not happy with your existing agent, you may write to his/her company to terminate the EA. Your valuation is 290K doesn't mean you can sell at this price. Just a hypothetical scenario, if you can sell above valuation, then it's a good but if you have already bought a new house and need to sell off current house, you may end up selling the house at or below valuation....like me but I was lucky to have it sold at valuation...good or bad actually. I guess it is unlikely that you'll get back cash...interest payment back to your CPF could be quite high.. If you have singpass, you may access to the CPF website, the amount you need to pay back. Do take into consideration your loan repayment as well : ) Share this post Link to post Share on other sites
sunset.dolphin 0 Report post Posted April 13, 2009 Hi, sorry, was busy with work, so hardly check your replies. Well, im going thru a divorce with my hubby now, so we are selling off the house.. he called me that there are buyers asking $8k above valuation.. i dont really know how much cash i can get back... cos i really need the money to raise my kids.. my hubby is a total jerk.. not giving me $ at all. Share this post Link to post Share on other sites
yoongf 11 Report post Posted April 13, 2009 Under such a situation.. my view is that it is not worth to drag it any longer over a few $K difference. Shd work towards closure. Share this post Link to post Share on other sites
Stagger 0 Report post Posted April 14, 2009 Hi, sorry, was busy with work, so hardly check your replies. Well, im going thru a divorce with my hubby now, so we are selling off the house.. he called me that there are buyers asking $8k above valuation.. i dont really know how much cash i can get back... cos i really need the money to raise my kids.. my hubby is a total jerk.. not giving me $ at all. So sad to hear abt this.... It is not really how much the cash above valuation is, it is the loan repayment and the amount you have to credit back to your CPF. If there is some cash proceeds after the deal, it will be split between you and your husband. But you can obtain help from the family court to get him to pay you alimony + maintenance of your kids..he has all obligation to fulfill the payout. You can pm me, I can share with you some experience..(not me) but my girlfriend's. Share this post Link to post Share on other sites
