Wealthy Women Series I Part 3: If Something Is Too Good To Be True

Imagine you could beat a great house way below valuation. It means you can make good money. That’s what Property Magnate Zhang Chunchun found out. She liked a place sufficiently to want to buy it.

It was way cheaper than the valuation price, and the agent explained that it was because they wanted to make money out of it by bypassing some steps. If she went alone without an agent, they could give her that price.

At first, she was very excited, but she decided to check it up further. She did not have to worry that the previous owner owed the bank huge amount of money or there was something wrong with the place. Whatever she could check she did.

However, she still felt uneasy about the deal, so she brought her friend who was well-versed in such procedures. She asked her friend to just follow her and tell her whether she should go ahead with the purchase.

When her friend saw the document, he told her to sign the document another day and made her leave. It turned out that the other party had deliberately added a zero behind the original valuation price, which meant that the price they were charging was actually now way above the valuation price, contrary to what they had claimed. That meant that the agent and the owner were deliberately cheating her.

Lessons learnt: Don’t be too greedy. If something is too good to be true, it usually is. Remember to check everything before you sign.

Find out in the next instalment on how Zhang Chunchun nearly bought a house that was potentially a house of suicide. It will be published tomorrow at 8pm.

In the meantime, read about Zhang Chunchun’s background, and how she started her property hunt.

Sarah Tan - SingaporeProfit.com