Property search-don't be fooled by developers!
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Young couples as well as others looking for private property will find thesemselves pampered for choice these days. Showhouses abound everywhere and the eager beavers property agents together with their so called mortgage bankers greet you with sharky smiles as you enter their show unit ever -ready for the kill! Even better if you have brought along your girlfriend /fiancee and the parents along., as they see this as a potential sale with a impending marriage ahead.
BUT Beware! BE careful and discerning or you might regret for the next decade or so with the purchasse you make. Showhouse Issues to look out for:
1) is the showhouse the actual size in terms of dimensions of the apartment/unit you want to buy? Many showhouses are actually a few feet wider here and there giving the exaggerated impression/appearance of size...when the actual unit is smaller.
2) look especially at the height of the showhouses. Most showhouses are heightened to give it a more grandiose ambience..don't be fooled. Ask them the actual height of your ceiling.
3) Erase from your mind the furnishings furniture and trimmings of the showhouse, and if already built ask to see a real empty unit..now that is exactly what you are buying!
4) Some showhouses are located a few kilometers away from the actual site, and in a very pleasant environment- the actual site of the development maybe quite different! E.g if the site is next to a temple or a very ugly workers' dorm, it may not be indicated on the brochure. Always drive to the actual site and look around.
5) Notice that the showhouses do not show any exposed sewerage/water piping . In your actual unit it will appear in corners you least expect!
6) Notice in many showflats the bedroom and bathroom doors are not fixed in. Why? the reason being once the doors are in place you can see the impractical aspects of the design as well as the actual space taken up.
7) the entry way -lobby is also usually decorated and made to look like a hotel lobby-but first realise you are not buying the lobby and second it will not be there in your actual unit.
8) look carefully at the standard double bed or single beds in the rooms -are they really standard or Liliputian standards? Sometimes the units in reality are so small you can't even put a bed in each bedroom!
9)Look out for the use of mirror on walls and glass panel instead of wall or simply demarcation lines for walls to give the illusion of space.
SO don't be easily fooled!
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Thanks TS... very good advice! Thumbs up for you!
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tyvm TS.
i know of property agents who like to cheat old people
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Another effort to finish reading...
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Thanks a lot bro. Nice one.
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Excellent advice. Thanks
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Ok.
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Originally posted by Taj.deen.84:
Excellent advice. Thanks
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Let's Talk Property
Tips for resale flat buyers and sellers
Written by Amanda Ng
For Buyers
In the event that the seller requests a very high COV, buyers should conduct a cost-benefit analysis to ensure that any cash premium commanded by the seller is justified by the condition of the flat and the quality of life it offers.For example,if the unit was renovated many years ago,or the new renovations do not suit your taste,it is probably not worth paying a high premium as you will need to renovate again.
Furthermore, attributes such as renovation would have already been considered during the professional valuation.The high cash premiums stipulated could be an attempt by the seller to cover the cost of recent renovations done to drive the overall property value even higher.
Never agree to pay a sum that is beyond your means.
For SellersSellers are able to engage an agent for a commission,but this agreement is private and not regulated by the HDB. Make sure you employ only licensed estate agents,checking with the Council for Estate Agencies' (CEA's) Public Register of Estate Agents and Salespersons. State your terms and requirements and discuss commission early on to avoid complications in the midst of the transaction.
Ultimately,the final decision to sell is yours and the agent is there to advise you. Don't allow yourself to be pressured into selling if you feel that you are getting short-changed.
For both buyers & sellersBuyers and sellers in the resale property market are advised to equip themselves with necessary information on the various HDB resale policies and procedures before making the transaction. Go through the enhanced HDB Resale Checklist available on the HOB's website to keep yourself updated.The HDB also regularly conducts seminars in three languages for buyers, sellers and agents to educate them on the resale process.
Both parties must provide accurate information to each other and the HDB to avoid administrative delays and setbacks. Both are advised to consider the total sale price rather than just the COV when making a decision.If you face complex problems you cannot solve on your own,consult a professional. It is useful to have a lawyer that you trust to get you out of tight spots.
However,if you are well informed,and follow the HDB's guidelines, you should have a smooth and pleasant transaction that meets both the buyer's and seller's needs.Properties, The Straits Times, Friday, May 18, 2012, Pg C13
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No money cannot buy anything.
Haiz.
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Like the article says, valuation already covers the additional renovations and design of the flat.
No idea why people want to pay above the valuation price.
Furthermore, the flat only looks good with all the nice furnishings, tables, sofas, dining tables etc when you view the flat.
But when the previous owner moves house, she will be taking away all the furnishings and furniture, leaving only an empty flat.
If after visualizing the empty flat without the nice decor and furnishings, you still think it is worth paying the 20-100K cov, then go ahead.
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Thanks for sharing. The ridiculous prices people are willing to pay either shows how rich they are or just how unwise they are, given the Euro zone crisis.
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Originally posted by Rahikalhasan:
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Alamak lu ingat sini Chittagong ka?