Property Indicative Value

[jedamum]

i am looking for a <15yrs HDB in Bukit Batok/Gombak area. :politebleah:

while others are looking for apartments nearer to hot/popular schools, i am looking at one not too far from my ds1's neighbourhood school cos he loves his school so much that he drew one pic with 'I love _PS' and showed it to me :roll:

[hmsg]

smurf:

hmmm...just called up OCBC, whic I morgaged my property to...they can check for me...but for other banks, have to go thru agent or need to loan from them, then they can check...


thanks MMM!:)

but hor, agents words cannot rely one...

u can have a quick indicative thru online at property guru... their estimates are usually on the lower end as compared to the values I got from banks...

[smurf]

just sold my plc...lower than bank indicative...


Hi hmsg,

the website is not so accurate...cos it depends what you key in...we are not sure whether my plc condition is consider average or below average...hahha...so the best way is to call the bank which your house is mortgaged to and get a quote...

[hmsg]

smurf:

just sold my plc...lower than bank indicative...


Hi hmsg,

the website is not so accurate...cos it depends what you key in...we are not sure whether my plc condition is consider average or below average...hahha...so the best way is to call the bank which your house is mortgaged to and get a quote...

agreed. which was why I used a combination of bank valuation, ura and guru to have a good range.

anyway for guru web, i was told that the asking prices are deliberately low so as to attract buyers... not sure if that is a fair comment... but data found on web should always be used wisely... or with a pinch of salt...

[smurf]

no lah, the price is deliberately price higher not lower...according to a friend's friend who is an agent, he said the price are deliberately put higher because they are trying to create an impression that the market is going up...

[jedamum]

smurf:

no lah, the price is deliberately price higher not lower...according to a friend's friend who is an agent, he said the price are deliberately put higher

I was also told (not by an agent la) that such price are higher, so that buyers have to negotiate for a lower price to get the real market value price.

[hmsg]

hmm… my agent told me it is priced lower… well, the truth is prices are really moving higher… think the resale vol will drop as there is a mismatch between buyer n seller asking price…

[smurf]

er, are you selling or buying? cos for selling, usually agent will tell owner prices are lower so that it is easier to sell...for buyer, agent will tell prospective buyer that prices are higher hoping that they can sell higher.haha.'smelly' tactic use by agent.

[hmsg]

smurf:

er, are you selling or buying? cos for selling, usually agent will tell owner prices are lower so that it is easier to sell...for buyer, agent will tell prospective buyer that prices are higher hoping that they can sell higher.haha.'smelly' tactic use by agent.

i sold n bought... same agent....

[jedamum]

i’m a newbie at buying property, and wish to find out


1) how do we know if we are dealing with the real owner of the flat?
2) how do we know if the flat owner did not default on their mortage loan and that ended up the bank need to take over the flat to reclaim the outstanding loan??
3) just want to confirm, if buyer did not engage agent, buyer don’t have to pay agent’s fee to seller’s agent, right?
4) any other things to look out for?

will the agent do such for us???

TIA.