Weekly Industry News

Transparency in sales contract important

Weekly Industry News

In the movie “A Few Good Men, ” Tom Cruise plays military lawyer Lieutenant Daniel Kaffee against Jack Nicholson’s Colonel Nathan Jessup.

In one scene, Kaffee raises his voice in frustration: “I want the truth!”

Jessup: “You can’t handle the truth!” And he goes on to extol the military’s importance.

Along parallel lines, the property industry is indeed an important part of the economy, but it cannot be so important that prices can continue to be opaque with buyers given an overall price, and on closer scrutiny discover that there is a 20% to 30% drop after deducting the rebates/discounts and gifts and sometimes, cashback offers.

In the last several years, prices stated in the sale and purchase agreement (SPA) are often not the real net price that the buyer is getting.

Media Title: New Straits Times

Date: 29 May 2020

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