There is no rule that prohibiting the owner to sell her property either directly or with the help of her relative or friends. The rule only prohibits a third party (including a relative) from acting as an agent or negotiator for the owner and collect earnest deposit personally without being licensed and registered to do so. The REN is answerable to the agency he or she works for as all licensed real estate agencies have their own policies in regards to their RENs selling their own properties or their relatives properties.
You may pay the earnest money directly to the owner provided you are able to verify that
1) she is the sole registered owner of the said property through a title deed search
2) her existing bank loan amount, if any is not more than the sale price
3) the earnest deposit is paid together with a written Letter of Offer stating all the agreed terms of purchase and signed and accepted by the rightful owner.
In the absence of a licensed real estate agency involved to be the stakeholder, it is best to hire a lawyer to do the due diligence and enter straight into a Sale & Purchase Agreement instead of paying the earnest deposit..
I may be contacted at
0193330573
should you need further advise.
Thank you
David Wong
Principal Licensed Agent E2097
QUANTUM REAL ESTATE - E(3)1320
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