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	<title>Comments on: Why you should not make a verbal offer?</title>
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	<description>Real Estate Investment in Johor Bahru</description>
	<lastBuildDate>Thu, 12 Aug 2010 06:08:21 -0600</lastBuildDate>
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		<title>By: ongkl</title>
		<link>http://reijb.com/dont-make-verbal-offer/comment-page-1/#comment-1011</link>
		<dc:creator>ongkl</dc:creator>
		<pubDate>Sat, 05 Dec 2009 03:42:07 +0000</pubDate>
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		<description>Hi Leon,

1. No need.
2. You can download it from Internet and amend accordingly.
3. To seller/owner.
4. Non-refundable unless it is the seller who calls off the deal. Yes, terms of your concern should be stated in the offer letter.
5. No difference, buyer will only pay to his/her own agent.
6. No. Buyer normally pays the professional fee to his/her agent upon signing of SPA.

Cheers</description>
		<content:encoded><![CDATA[<p>Hi Leon,</p>
<p>1. No need.<br />
2. You can download it from Internet and amend accordingly.<br />
3. To seller/owner.<br />
4. Non-refundable unless it is the seller who calls off the deal. Yes, terms of your concern should be stated in the offer letter.<br />
5. No difference, buyer will only pay to his/her own agent.<br />
6. No. Buyer normally pays the professional fee to his/her agent upon signing of SPA.</p>
<p>Cheers</p>
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	<item>
		<title>By: Leon Lam</title>
		<link>http://reijb.com/dont-make-verbal-offer/comment-page-1/#comment-990</link>
		<dc:creator>Leon Lam</dc:creator>
		<pubDate>Sat, 14 Nov 2009 16:43:50 +0000</pubDate>
		<guid isPermaLink="false">http://reijb.com/?p=667#comment-990</guid>
		<description>hi KL
Thanks for the tips. I got some questions regarding this process.

You mentioned buyer should make offer with earnest money and a written offer with terms and conditions specified.

My questions
1. Does buyer need to engage a lawyer at this stage to draft the written offer?
My understanding is that buyer only engages lawyer after offer is accepted, in order to draft a SPA between buyer and vendor.

2. Any there any standard written offer template document that buyers should use?

3. To which party will the earnest deposit be made payable to?
Do we make the earnest deposit payable to the agent (negotiator). 

4. Is earnest deposit refundable if the deal does not go through for whatever reason? Should the buyer put in this refund term in the written offer?

5. To avoid any conflict of interest, should the buyer always engage his/her own agent to convey the offer to the vendor&#039;s agent? In this case, are there any difference in the real estate agent fees payable by the buyer?

6. Do/Can agents use earnest deposits as their fee? When should buyer pay the agent his/her fees?

Thanks a lot!!</description>
		<content:encoded><![CDATA[<p>hi KL<br />
Thanks for the tips. I got some questions regarding this process.</p>
<p>You mentioned buyer should make offer with earnest money and a written offer with terms and conditions specified.</p>
<p>My questions<br />
1. Does buyer need to engage a lawyer at this stage to draft the written offer?<br />
My understanding is that buyer only engages lawyer after offer is accepted, in order to draft a SPA between buyer and vendor.</p>
<p>2. Any there any standard written offer template document that buyers should use?</p>
<p>3. To which party will the earnest deposit be made payable to?<br />
Do we make the earnest deposit payable to the agent (negotiator). </p>
<p>4. Is earnest deposit refundable if the deal does not go through for whatever reason? Should the buyer put in this refund term in the written offer?</p>
<p>5. To avoid any conflict of interest, should the buyer always engage his/her own agent to convey the offer to the vendor&#8217;s agent? In this case, are there any difference in the real estate agent fees payable by the buyer?</p>
<p>6. Do/Can agents use earnest deposits as their fee? When should buyer pay the agent his/her fees?</p>
<p>Thanks a lot!!</p>
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