SINGAPORE: A property agent was sentenced to 23 weeks' jail and fined S$11,000 on Thursday for deceiving both the buyer and seller of a Housing and Development Board flat to receive double the amount of commission.
An interested buyer came across the advertisement the following month and contacted Toh to arrange a viewing. He viewed the flat on May 24, 2018, after which Toh advised him to increase his offer, saying that the seller had rejected a similar offer previously. However, about two weeks later, Toh called the seller and lied that the buyer faced difficulties securing a bank loan due to the low valuation of the flat.
Later, Toh met the seller and lied that he had negotiated with the buyer to buy the flat at S$797,800. The seller felt uneasy and asked Toh if the option to purchase could be amended or reissued to reflect the new lower selling price. But Toh said this would delay the sales process and could result in the buyer being unable to exercise the option to purchase before its expiry.Toh kept the S$4,000 cash cheque for himself. He passed the S$10,000"refund" to the buyer and claimed that the seller felt bad about the flat's lower valuation and wanted to give him compensation.
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