Booking fees and buyer vulnerability

When it comes to property transactions between buyers and developers, there exists what experts call an imbalance of power. The weaker party is often the buyer, chained down by stack upon stack of agreements and contracts lined with terms and conditions that very subtly favour the developer.

With their hands tied, some buyers have little say when it comes to purchasing their own property. One issue, in particular, has existed since before the 2000s and is still running rampant in showrooms today: The illegal collection of booking fees.