It is super important that any agreement you reach with the client, broker or agent that you have the matters discussed / spoken in writing. Sri Lanka is a developing nation and while this transition is taking place, the job of the conventional broker who works purely based on trust (verbal agreement) is slowly diminishing. From the honest broker’s perspective, it is also quite a risky task to deal based on a verbal agreement. So it’s actually a win-win for both parties to have things in written form.
There are many local and international agencies that are hitting the Sri Lankan market because they see potential to provide their services and thereby make good money. It is important to have all what is said and discussed in writing. The same applies when it comes to the confirmation of a certain property, be it a sale or rental, it does not matter – every piece of information has to be in writing and that is what matters at the end of the day.
It must also be said that many property owners are very nice people and I have personally come across many of them who have been taken for a ride and have lost a substantial amount of money. The whole purpose of writing this here is to educate and create awareness among all the owners / brokers / agents etc. that it’s extremely important to have everything you discuss in writing.
Do not buy the verbal bull shit, not only will you have to pay more but it would also impact your mentality and impression when it comes to certain people and their backgrounds, nationality and most importantly their profession. It’s a dog eat dog world and there just as many good and bad people in the market, everyone wants to make a fast buck. It will not cost you to play it a little safe and get everything in black and white. Please do be extremely mindful about it. Sign it and be risk free.
Good Luck!