6/14/2007
Just another thought
If I were to buy a few properties, I will definitely have to rely on the expertise and professional knowledge of my property agents, bank officers and conveyancing lawyers to make sure that the deal will get through without any complications.
Will I be buying a property from someone having trouble with the law and on the verge of being made a bankrupt? I may, without all the knowledge of how such a situation could affect my purchase. But my property agent, or my conveyancing lawyer will definitely do their due diligence and advise me to stay clear of such properties. That is the least I will expect for the money I am going to pay.
And if I will to go to the bank to arrange for a loan for the purchase, the bank officer will very likely not approve of such a loan. And the approval may also take quite some time for such a big loan. There will be a lot of checks and approvals along the way. Buying several properties will probably take several months for all the professional people to do their checks.
Would my conveyancing lawyer encourage me to buy such properties even at dirt cheap prices?
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31 comments:
All the professionals failed to exercise due deligence, but of course in Singapore some things need to go terribly wrong before they try to patch the holes.
In this dog eat dog world, what those professionals want is of course to make money and ethics and morality are secondary. The argument is that if I don't do it someone else will do the deal. And as for the buyers of the propety their thinking is if I do not take up the offer,someone else will.
you sound like you are speaking for some private schools. every student is here to be fleeced.
but in life, going the wrong way to make money is easy. at the end of the day you want to be able to sleep well and say i made my money decently.
Caveat Emptor—let the BUYER beware. If you are, you are responsible. Remember "You can't cheat an honest man".
The real estate game, like the stock game is played purely for greedy profit intentions. The idea is for everyone to maximise what they can get from whatever they do. Some people play dirty. But you can never "legitimately" scream "foul". Why? Caveat emptor—you can't cheat an honest man.
No one asked you to play the game. Playing the game is voluntary and an honourific which means if you have nothing to bring to the table, you're better off getting lost, getting off your lazy bum, and getting some capital together, as presently you don't have what it takes to play. This game is not for everyone. Another adage "If you didn't bring it with you, you won't find it here"
Yes, every "professional" in the chain will seek to "maximise" their returns. Are you foolish to ever believe that they are there for any other reason? Like perform "selfless" acts? ;)
In this dog eat dog world, what those professionals want is of course to make money and ethics and morality are secondary. The argument is that if I don't do it someone else will do the deal. And as for the buyers of the propety their thinking is if I do not take up the offer,someone else will.
I hate to agree with you but it is true ethics and morality seem secondary these days. I noticed the high income earners, like you said professionals in dog eat dog world, seemed more loose or confused with the value system. Ironically it is the simpler folks that are often more observant of values and morality issues than the educated and status conscious ones who are chasing the wind to keep pace with the jacks and joneses all the time.
It used to be different in the less competitve past. What has changed is in the way people perceive value nowadays. The good thing is we have the freedom and the capacity to choose the things we want to do, whether it is taking taxpayers/donors money to enrich oneself, professional neglience/ breach of ethics etc so long as you can get away with it, all is well. Or is it really?
Just becos everyone is doing it doesnt mean it is now an accepted norm and therefore it is ok. Is it ok to have premarital sex becos all her classmates have done it, alright to be tattooed becos it is their generation thing, alright to cheat and steal through legal loopholes as long as one is not caught or prosecuted?
People who feels they are accountable to no one other than himself and the law of the times would agree that it is ok to do these things. The distinction then of, a thief, murderer or rapist committing inhuman acts in darkness thinking it is alright as long as the law didnt catch up with them and no one notices, compared to professionals who were doing the wrong things knowingly thinking it is alright as long as the loopholes protected them from the law and no one notices, has become blur.
But I see it as one and the same thing, and I strongly believe there is accountability for everything one does in this life or the hereafter. It is the belief system that is different.
i choose to disagree with anonymous that the high earners forget about morality and ethics.
they don't. they are just above morality and ethics. these are concepts for the poor and hardup people.
it is like saving water or wasting resources. only the poor are expected to observe such rulings.
And of course, as they say, the law favours the rich. One classic example, and I apologise for dragging it up again, was the two poor chaps who were sued by Durai for speaking the truth about the going-ons in the old NKF. Naturally they lost and had to pay compensation. Why? Because they are poor and cannot afford top lawyers to fight for their case. Furthermore, rich people are generally more well-connected than the poor, and this too play a part in the perception that the rich can get away with murder.
this perception that the rich is well connected and can get away with murder is spreading like wild fire. this is bad for a country that is clean, transparent and operates under the rule of law.
why are people having such a bad perception? true or false is still bad. in many countries it is true. not in singapore.
So, it is true when one of the ministers said that our little red dot is unique and special. I am so proud to be a Singaporean.
Rich people can get away with anything anywhere!
This is not unique just to singapore.
To change that you will have to regress and go back to fishing village society.
this perception that the rich is well connected and can get away with murder is spreading like wild fire. this is bad for a country that is clean, transparent and operates under the rule of law.
Unfortunately this things happen when a society globalise, it is a compromise. Casinos in Singapore is the last thing anybody wanted to do, but it is unavoidable given the challenges then. (From having difficulties servicing mortgage loans to becoming asset rich is like an overnight shift.)
the rich is nothing when they clash with power. look at thaksin. he can only regain his wealth and dignity by seizing power and do justice to himself and his family.
i hope he does that, fight fire with fire. at least he dies fighting than be trampled and robbed of his fortune and his reputation.
You see, Thaksin can fight because he is still rich. For ordinary poor folks how to? Even Francis Seow and Tang Liang Hong do not have the resources to fight it out with the Establishment here. Nothing favours them.
The sorry part is not the characters like Francis or Tan, to which we do not give 2 hoots about. It jus doesnt bother me if they are buried or alive becos they have their lives and I have mine. But when ordinary folks are hanged like dirty linen in public with so much bitterness, wrath, animosity and bad publicity, it does get spectators like us down and thinking whether this is an overkill or a personal vendatta sort of thing.
We shud move on and let live, it is only human to do so.
I doubt thaksin will do anything to regain power, becos to a wealthy person, life is more precious than anything else.
Lives degraded and problems abound with the present junta, when was clearly better and thousand times more progressive during thaksin's time. It does seem ironic therefore that the King should want him to go for the good of the country.
Thaksin Is the best thing that happened to thailand since cold beer.
redbean said...
i choose to disagree with anonymous that the high earners forget about morality and ethics.
they don't. they are just above morality and ethics. these are concepts for the poor and hardup people.
it is like saving water or wasting resources. only the poor are expected to observe such rulings.
June 15, 2007 9:16 AM
Of cos even a thief can disagree he is wrong. He can argue that he is merely helping to re-locate social resources more fairly. Or a murderer can justify he is doing a good deed by ridding society of evil.
And that's why redbean you are so entrenched in your thinking. If it is about the good against the bad, it is hardly surprising that you should take after one of them.
We should agree to disagree as we understand your leanings better thru your postings.
redbean said...
i choose to disagree with anonymous that the high earners forget about morality and ethics.
they don't. they are just above morality and ethics. these are concepts for the poor and hardup people.
it is like saving water or wasting resources. only the poor are expected to observe such rulings.
June 15, 2007 9:16 AM
Synopsis of argument;
1. morality and ethics issues should not figure in modern society.
2. Only the poor should be socially reponsible
Extrapolating these arguments further;
1. the world should be as i sees it
2. only issues that relate to me directly should be matters of social concern period.
Speculative conclusion*;
1. any opinions/arguments against the above shall be defended.
2. i have been there done that, therefore knows all.
*This train of thoughts have always been predictable in your threads.
2. i have been there done that, therefore knows all.
... the reverse logic is just as possible, that he was there, screwed up heaps, as a result knows jack about nothing, yet still talks like he knows ... :)
2. i have been there done that, therefore knows all.
... the reverse logic is just as possible, that he was there, screwed up heaps, as a result knows jack about nothing, yet still talks like he knows ... :)
in this day and age anyone with a mouth to eat and a backside to shit can air his views abt anything that crosses his mind, rubbish included, and there is really no absolute right or wrong view.
to the anonymouses.
i always tell the truth, and the brutal truths. sometimes from the right side, sometimes from the wrong side. whichever side of the truth i spoke, it irritates the other side.
the ability to look at all the truths and not get agitated is a sign of maturity. we must be able to detach ourselves from people's views that may not be agreeable to us. and a higher level is to be able to see through the views and understand where they are coming.
for thaksin to be where he was and is, a prime minister and a tycoon, it means that he has that drive and ability to achieve what he wants.
and very likely he is not going to take all these bashing at him and his family lying down. and in terms of ability, no one, not even sonthi and his backers are close to him.
he still has a chance to fight back. and if he is successful, thailand will see a revolution and the mindset of the thais will change completely.
How to when the king openly disapproves thaksin and backs the junta? thaksin progresses the country but he is said to cause the country ills, the junta regresses the country but they are said to be answer to the countrys prayers; as in i love you i call you darling otherwise you are a rascal better get lost.
thailand is taking over exactly where malaysia under mahathir left off... capital control, flip flop and diplomacy by emotion or angry lashings
the thai king is pushing his luck too far. once the thai people get wiser and say the country belongs to the people and not to the king, then everything will change.
thaksin is the catalyst to such a change. that may be the reason why he must go at all cost.
modern society no longer accepts the supremacy of kingship.
Redbean, wait till Thailand ban your blog then you know, talking about their King.
the thais don't read this blog. and if they do, they will probably thank me for pointing out the danger of what they are doing now.
i have not defaced the king in anyway. just an observation of how the political development can go out of control and the risk of thailand losing its monarchy.
oh, in this respect the malaysians are more advance politically. their royalties are now strictly ceremonial and not involved in the nation's politics.
Ya both malaysians and thais beside like eat durians look to each other for hot tips on how to run their country, thats why the ringgit and baht crashed together in 97.
the thais were doing quite well until they decided to lynch thaksin.
the malaysians were history since 1969.
ya, they all eat peanuts, lived on trees and will bite you if you come too near.
If only they have our calibre of govt, the malaysians and thais will be much better off today no doubt abt that.
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