To sell or not to sell our pty
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I never believe the agent is to my best interest no matter I am at buy side or at the sell side or renting. Close a deal is utmost important to the agent rather than price. Sorry to the agents on this forum if you are different.
I still use agent because it can be quite troublesome to handle all the calls, viewings because both my wife and I are working. Our work loads are heavy as well. But I always do my home work. I know how much my house can sell and how much I want to buy.
I remember someone told me before: There is nobody at your best interest other than yourself. -
foreverj:
Personally, I always scour the classifieds ads for a property myself and do the negotiation myself. Agents only want to close the deal and usually use sales tactics to trick you into buying hastily. Never sign any Options to Purchase before getting your bank to agree to the loan amount (this is called \"Loan Approval In-Principle\").
what abt buying a private property? do u think its worth looking for one ourselves? or should leave to an agent to bring us around to view the properties and negotiate for a good price?
Always ask the following questions before making the trip to view a house (a waste of time unless you have nothing better to do).
1. What is the selling price (is it within your budget)?
2. What is the land, the built-in area - check the per sq foot price to make sure it is worth the money.
3. What is the bank valuation - VERY IMPT if you are tight on cash. You are done for if you agree to a price and then the bank tells you you cannot borrow 80% of that amount coz the actual valuation is lower. And get the valuation from the bank you want to borrow from.
4. Is it Freehold, 999 leasehold or 99 leasehold? This is impt in calculating the value of the property.
5. When was it last renovated? Is it in move-in condition or needs reno? Take this into consideration as you need to put aside cash to renovate an old house. You could also take Reno loans but those have higher interest rates and must be paid off in 5 years. Quite stressful.
6. What is the monthly maintenance fee (for condos)? This can eat into your monthly expenses.
7. How many parking lots are allocated or available? This is important if you have more than 1 car. Some condos are very fussy about this. Some landed homes are located along such narrow roads that it is tough finding parking for your second car. -
Helly cherrygal, :goodpost:
wow, thanks for the detailed list of questions! but, one thing is, will the agent/seller be willing to disclose so much info over the phone, even before u view the place?
if u dun mind, i will pm u some queries and tap on your experience as a buyer.
many thanks!
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So far I have no problem to get price through phone. I just tell them you will disclose the price at some point of time. It is wasting everyone’s time if I come down to view and walk away. Their main concern is that they don’t want to tell their agent competitors. They don’t know whether you are one of them.
If the agent has a few units to sell, you will be surprised to hear they say this owner seems easier to negotiate, that one is not. That’s why I say you can not expect they stand to your interest.
I once called an agent with a listing of a unit @940K with lease. I asked some basic questions about the total number of units, facing, current rental, etc. She knew nothing. The only meaningful thing she said is: If you offer 910K, I think the owner will take it. I pity the seller.
These are all from my personal experience. Yours may be different. -
Yup, so far all the agents were willing to tell me the info. The only thing they don’t say is the house number coz they are afraid you will deal directly with the owner and bypass them.
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foreverj:
Replied your pm! Lemme know if you have more queries. I am also looking around for a place so have been speaking with agents. Waiting to see if prices will fall next year.Helly cherrygal, :goodpost:
wow, thanks for the detailed list of questions! but, one thing is, will the agent/seller be willing to disclose so much info over the phone, even before u view the place?
if u dun mind, i will pm u some queries and tap on your experience as a buyer.
many thanks! -
cherrygal, have sent a reply to your pm
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Hi foreverj,
Replied your pm too. Would suggest you wait for property prices to come down. -
Tania:
Tania: i am currently going through the same dilemma as you. We are thinking of getting a bigger flat because of #2 and also I am preparing to stay at home next year. But i really love this little love nest we live in. Sigh.I am in a dilemma as to whether to sell away our apt. My hubby wants to sell it so that we are free from the bank loan.. use the money to buy HDB and pay in full..
However, I really like where i live right now.. cos it very convenient for me to pick up my kids from school.. i just like the environment around my house.. My hubby is suggesting to move to some where close to his workplace which is Yew Tew/Upper Bt Timah.. But when i think of the traffic around that area i dun feel like selling my apt.
Any advise??? -
cherrygal: You've got mail! :boogie:
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