Advertise
Search Options
Search
Start New Discussion 
Ask Now
Prop Guide

Property Guru
7338 posts
24 best
Nadeem Ahmed

Property Guru
4951 posts
19 best
Falcon

Property Guru
4723 posts
6 best
Pakistani-1

Property Guru
3031 posts
26 best
Nasir

Property Guru
2515 posts
21 best
Abdul Qayyum

Property Guru
2457 posts
7 best
Imtiaz

Property Guru
2059 posts
14 best
Khalid Javai

Property Guru
1999 posts
0 best
Sayeein

Property Guru
1868 posts
0 best
Sheikh Abdul

Property Guru
1753 posts
16 best
Baber Rabban

Property Guru
1716 posts
16 best
Isloo

Property Guru
1529 posts
3 best
Dsa

Expert Authority
1477 posts
2 best
Syed Ibrhaim

Expert Authority
1438 posts
17 best
Arshad

Expert Authority
1189 posts
1 best
Pardesi

Expert Authority
1172 posts
8 best
Mbs

Expert Authority
1157 posts
13 best
Ace Property

Expert Authority
1114 posts
9 best
Irfan

Expert Authority
1112 posts
8 best
Real Estate

Expert Authority
1052 posts
3 best
Become an expert on the forum, check Forum Ranks.
Where to Buy discussions and advice. Participate in ongoing dicussions and get invaluable Where to Buy advice from people who are experts in their industries or start a new Where to Buy discussion.
AB
( 7 posts )

[20 Replies]
I have been trying to find a plot for myself and finding it really hard to reach out to an original seller. I have noticed that there are multiple people[agents] involved in the sale process and they do not let you meet the owner. I want to make token money(bayana) in the form of a bank draft directly to the owner and do all legal documentation with owner/seller directly in front of a legal advisor (i am ready to foot the cost). As soon as property agents hear about this plan , they back off or start quoting very high prices within a gap of 2 or 3 days. In my opinion 10% of the advertised price is considered as a top (slang) and distributed among all layers of the estate agents(1 down, 2 down , 3 down etc). Owner only gets paid whatever you get him the bank draft for. I have experienced this in bahria town phase 8, b-17, gulberg residencia, top city -1, cda i-14, i-16 etc. Is there any one who works on 1% commission only? I even offered 1.5% but nobody wants to do business professionally. People strive to invest the fortune and then find out that they have been dinged by at least 7 to 10 lac rupees on 5 to 6 million rupees purchase. I guess no one or at least i have not found a genuine person [seller/estate agent] in last 3 months. Any thoughts from senior and respectable members of the community here please. Also, i do not want to accuse anyone here. Just sharing my experience which should just be taken as a word of caution by genuine buyers/sellers.

    94 days ago In Where to Buy
    Post Answer
    Ali Nouman
    (1 post)
    There is no option exist in Pakistan for it. Unfortunately we just have to pay this amount and that's how it works in our country. This is reality and after long time getting frustrated from all this, I have patiently accepted it.
      94 days ago 

      A M Abbasi
      (318 posts)
      Yes i totally agree with you most of the cases are like this but i know some people personally who do the deals and take fair amount of 1% if they are single or take 2% commission if the multiple agents are involve.
        94 days ago 

        Zahaid
        (8 posts)
        Dear Sir,



        There are good as well as bad people in every field and every corner of the world.



        One of the property dealer sold a 32 lac plot in 56 lac to one of the guy from our village.



        The same guy visited me and I give very good consultation and was charging him 1 percent as per the property rule but in the end he went to someone and got probably what he deserve.





        Best Regards:

        Zahid
          94 days ago 

          Isloo1
          (881 posts)
          Only on Mars.!

          This "top" business is something that Malik Riaz and taught to his gringos very well. Now they have perfected the art and no deal is without "top".

          However, you should insist on buying from the original owner. Check allotment letter to confirm and then negotiate price yourself. Your insistence on this procedure will break this chain selling.

          The other technique is to delay the deal. Usually these intermediates have short time to pay so delays will frustrate them and they'll negotiate a lower price.


            94 days ago 

            AB
            (7 posts)
            Not sure why, but my previous response is still not showing up. May be going through a moderation for some reason.



            Thanks Ali, AM Abbasi, Zahaid and Isloo1 for your valuable comments and feedback.



            Still looking to do a business with genuine sellers if there are any....
              92 days ago 

              Waleed
              (34 posts)
              Can someone please explain what is this "top"? How does it work?
                92 days ago 

                Shoaib khan
                (2 posts)
                AB Brother, very genuine, touching and concerning point shooted by you....we observed here that very few worthy members have replied to ur question...i m also going through the same situation and finding difficulty to find genuine agent / dealer who take comission and get me good deal...any ways, as said by one of the member, good dealers / agents do exist in our country..lets hope, we find one.
                  92 days ago 

                  Isloo1
                  (881 posts)
                  Waleed bro,

                  Definition from Dealer-dictionary:

                  "Top" (noun) or "Top Lagana" (verb) are the terms used in realty industry where a dealer mints extra money by selling your property through intermediaries with the view to jack up price and keep the difference.

                  Process:

                  Dealers make a chain of buyers and sellers. Suppose you are A, your dealer is B, dealer's buddy an investor is C and they both find a genuine buyer who is D. Then this single sales transaction makes a chain like this:

                  A -> B -> C -> D

                  Suppose you had bought a plot some 2 years ago for 8 lac. You put it up for sale through a dealer. He tells you that he has a buyer who pays 10 lac. He then tells the investor that I have a plot with 4 weeks payment time at price 12 lac. You agree and biyana is paid. Now B and C make effort and find a genuine buyer and sell him for 14 lac, C recovers his biyana money from D.

                  Now payment time comes, so B takes A, C and D to transfer office, A and D sign documents, D pays balance amount in draft and cash. C keeps his profit (cash), B keeps his profit (cash). Then B takes commission from A and D in cash. And everybody goes home happy.

                  You invested 8 lac, waited for 2 years and made 2 lac profit (minus taxes, commission and expenses). Your dealer invested Rs.0 and made 2 lac profit (plus 2-side commission). The investor invested 2-3 lac in biyana, waited for 2-3 weeks and made 2 lac profit.

                  اس کو کہتے ہیں، پراپرٹی ڈیلنگ کا نیا طریقہ۔ کہیے پسند آیا۔

                  When prices are increasing fast, this chain sometimes include 3, 4, or 5 investors. They all gather at transfer time and no-one knows who is who (except the dealer, of course).
                    91 days ago 

                    Abdul Qayyum
                    (2429 posts)
                    Well said Isloo1 sb
                      91 days ago 

                      AB
                      (7 posts)
                      Thanks Isloo1 and Abdul Qayyum sb. Appreciate your time and effort.



                      Any tips on avoiding all this top game besides insisting on finding the original seller/owner?
                        91 days ago 

                        Post Answer (20 Replies)
                        1 2 >
                        Post Reply
                         
                        Username:
                        Password:
                        Email Basket (0)
                        SEND EMAIL   REMOVE ALL