Early last week, I made a deposit of 0.25% to the agent as he said to show that I am serious and sincere to purchase the property rather than mucking around. In the contract, I have written the agreement for the price and the period of settlement date. At that time, I was adviced that after I signed it, it would pass it off to the vendor to consider to accept my offer.
Till now, I have not heard anything back from the agent. I am starting to get fustrated. I am suspecting that the agent is trying to delay me since he is not answering my phone back. So before I step into the real estate in person, I would like to ask some advice like a mini preparation.
From my understanding, once the vendor agrees and signs it, then it will be officially confirmed as exchanged contract and there will be a 5 day cooling off period and obviously, the 0.25% deposit will be forfeited if I decided to withdraw during the cooling off period
However, I have NOT heard anything from him and may consider to withdraw now or force him to make the decision i.e. if I do not get accepted for the offer within 1 day, I will come up and get my money back? Or I can just show up and demand the money for no reason? (provided the vendor has not signed anything yet)
At the start, I was told that I am allowed to have the 0.25% refund if the vendor decides NOT to accept my offer for whatever reason. What about now? The vendor or agent is not responding to me, can I request for a refund for no reason (since the vendor did not sign anything?). I mean unless the vendor signs it straight away, then I am binded to the contract but what about in this situation?
If it can be refunded, if there's any source I can show (from a website or anything) so that I can argue with them face to face in case they try to make a delay by purpose and give me some excuses asking me to wait longer etc
Any answers will be very appreciated
Thanks
Till now, I have not heard anything back from the agent. I am starting to get fustrated. I am suspecting that the agent is trying to delay me since he is not answering my phone back. So before I step into the real estate in person, I would like to ask some advice like a mini preparation.
From my understanding, once the vendor agrees and signs it, then it will be officially confirmed as exchanged contract and there will be a 5 day cooling off period and obviously, the 0.25% deposit will be forfeited if I decided to withdraw during the cooling off period
However, I have NOT heard anything from him and may consider to withdraw now or force him to make the decision i.e. if I do not get accepted for the offer within 1 day, I will come up and get my money back? Or I can just show up and demand the money for no reason? (provided the vendor has not signed anything yet)
At the start, I was told that I am allowed to have the 0.25% refund if the vendor decides NOT to accept my offer for whatever reason. What about now? The vendor or agent is not responding to me, can I request for a refund for no reason (since the vendor did not sign anything?). I mean unless the vendor signs it straight away, then I am binded to the contract but what about in this situation?
If it can be refunded, if there's any source I can show (from a website or anything) so that I can argue with them face to face in case they try to make a delay by purpose and give me some excuses asking me to wait longer etc
Any answers will be very appreciated
Thanks