Hey! Like in many other industries, manipulators also exist in the world of real estate. Today, I would like to talk about one of the worst manipulators we’ve ever encountered, the property agents. When it comes to navigating the world of real estate, one must be vigilant, for not all property agents have your best interests at heart.
After almost 7 years renting, my husband and I decided to buy our own house although we don’t have much money. Because, if not now, when? And Alhamdulillah, our housing loan application was approved in less than a month. Few documents signed and we’re hoping to move in before our renting period ends. May Allah ease our journey.
We chose the house mainly because it’s within our budget. Although it’s far from the city, it’s spacious, and the walls are thick unlike most new houses today. Nevertheless, it’s a painful journey that we have to endure before we can finally get the house key. All I can say now is that most (not all) property agents are shitty.
We Were Fooled
Undeniably, some banks do provide full loan to eligible applicants. But bear in mind that you still need to have few thousands in hand. These property agents (the manipulators) will definitely fool and trap you! Hey don’t blame us. We have specifically told the agent that this is our first time buying a house. She also said that she will help to guide us one by one. We would be selling houses too if we were experts. If we have lots of money, we would not have requested for a full loan. Because of this useless agent, we had to dig out around RM14K. She said RM7K will be refunded when the loan is disbursed. We’ll see about that later. LOL.
Apparently, It’s a Common Problem
My husband had the opportunity to convey his dissatisfaction with the property agent to the bank officer, as she (along with her broker friend) had supplied us with inadequate and deceptive information. Apparently, the officer noted that this is a very common problem. Typically, these property agents entice buyers to a point where it’s nearly impossible for them to withdraw. Whether buyers prefer it or not, they find themselves needing additional funds to finalise the purchase. However, if they decide to withdraw due to an inability to secure additional funds, they risk losing the initial payment they made.
Moral of the Story
To those who are interested to buy their first home, make sure you are mentally ready to face with these manipulators. Make sure you are ready with the money too. Regardless what they say about the full loan, make sure you can pay for the booking fee, SPA, stamp duty, legal fee, security deposit, and other effing fees.
Don’t Give Up
Last but not least, if you ever be in our situation, do not give up! Getting housing loan approved is not easy especially for low income earners like us. So when you have the opportunity to get the loan, just move forward no matter how difficult it’s going to be. Good luck!
Not sure if we have one, but I hope someday there’ll be a law governing this property agents ensuring that they’ll follow certain procedures, providing full information to the buyers. If we have one, then it’s already proven that there’s lack of enforcement. Thanks for reading.