‘I was promised a dis­count’

HT Estates - - HTESTATES -

Ibought a 2BHK apart­ment in Greater Noida in Oc­to­ber 2010 dur­ing the Navr­taras. I al­ways be­lieved that any big de­ci­sion like buy­ing a house should be done on some aus­pi­cious oc­ca­sion and noth­ing could be a bet­ter time than the Navra­tra. How­ever, it didn’t turn out to be a good buy be­cause the prop­erty dealer who had fi­nalised my deal promised me a hand­some dis­count. I trusted him and paid the book­ing amount.

Af­ter mak­ing a few ini­tial pay­ments, when I asked him for the dis­count he told me that he would not be able to pay it as he hadn’t got his com­mis­sion from the de­vel­oper. Nor­mally, when a bro­ker prom­ises any dis­count to a home­buyer, he gives some per­cent­age from the bro­ker­age he gets from the de­vel­oper. For in­stance, if a bro­ker gets 10% com­mis­sion for a sell­ing a flat of ` 45 lakh, he might choose to of­fer 5% of it to a cus­tomer to tempt him to in­vest. A con­sumer will also find such a deal prof­itable, so in­stead of buy­ing di­rectly from the builder, he will pre­fer to go to the bro­ker. In many cases it has, how­ever, been seen that 90% of the bro­kers don’t ful­fill the prom­ise of a dis­count.

The ex­cuse they give usu­ally is that they have not got their com­mis­sion from the de­vel­op­ers. Since it’s very dif­fi­cult for a home­buyer to cross­check with the de­vel­oper, most of them give up. Had I got the of­fer in writ­ing from the bro­ker, I would have def­i­nitely dragged him to court for mak­ing “false prom­ises.”

So my ad­vice to a home­buyer is that when­ever you are deal­ing with a bro­ker or any real es­tate con­sul­tant, you must cross-check all of­fers from the de­vel­op­ers too. And try to get ev­ery­thing down in writ­ing.

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