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Plastic3

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Posts posted by Plastic3

  1. Posted

    Hey all,

    Just wanted to ask if there are many 24hr places in Yishun? Being a nightowl, i'm always on the prowl for 24hr places.

    I only know the coffeeshop at blk 848, i think. The one near the NTUC - which i think is also 24hrs. (Goody! :P )

    Would appreciate any input! ;) Thanks!

    Coffeeshop @ blk 630

    Coffeeshop @ blk 744 (iirc)

    Starbucks

  2. Posted · Edited by Plastic3

    I actually bought a 3 bedrooms unit(1249sqft $970K) also in Rio Vista last month. But the seller will be renting from me at $3000 p/m until they find a new house up to 12 months. Right now I am asking the buyer who bought my 2+1unit to let me rent the unit at $2500p/m until I am able to move in to the new 3 bedder unit. If he rejects my request, I will have to look for a place to rent! My budget for rental will be below $3000p/m. Any recomendation where should I rent? My son's school and my wife work place is in Punggol. As for me, my work place is at Changi Airport.

    If your buyer rejects, maybe you can try renting another unit in Rio Vista?

    Or if you want to stay somewhere else for awhile can try Rivervale Crest, 2bedroom under $3000 should be no problem.

    Best,

    Mark

  3. Posted

    Huray! my 2+1 unit is sold at $850K(806psf) within 2 weeks. Over the 2 weeks period, we had viewer from Singaporean, Philipinno,Indian and Chinese. None of the foreigner make an offer, only the 2 Singapoerean make an offer. First Singaporean offer was $790K, of course we turned down! Second Singaporean offered $818K at first, then eventually closed at $850K.

    Congrats!

  4. Posted

    hi,

    i need to ask a few questions which i am unsure of. i am a first time buyer.

    1) i have a friend whose mop ends on 30/08/2011, and will be getting a pte property. thus, i am interested in his house and most probably will purchase his place. when will be the earliest time he should get a valuation? thereafter, we signing the otp.

    2) since we both know each other, and the trust is there. do you think we should just get an 'agent' friend to do the paperwork for us? this is to avoid paying the 2% & 1%. however, can we get the same 'agent' friend to do the paperwork for us?

    3) any further advice from the experts on this transaction based on past experiences?

    thanks!

    Valuation takes 1-2weeks to be out,

    7-days before granting OTP your friend needs to do the Seller's Checklist,

    you need to do Buyer's Checklist latest before exercise OTP.

    Best,

    Mark

  5. Posted

    I have intention to rent out or sell off my 1055sqft 2+1 unit at Rio Vista(Upp Serangoon View). High floor, south facing, no afternoon sun, 7 years old, facing part river/greenery/Paya Lebar runway. Besides the usual full condo facilities, it also provide free shutter bus service to Hougang MRT/Bus interchange/Hougang Mall.(6.30am-7.30pm daily every 10mins during peak hrs & 30mins offpeak). The monthly conservancy fees is only $153.

    May I know roughly how much can I rent out or how much can I sell?

    Current asking price is about $880k-950k

    Best,

    Mark

  7. Posted

    just one thing: i think you are not supposed to collect rental from seller if they request for extended stay. by doing so, you will breach the MOP (minimum occupation period) as you are not supposed to rent out the whole flat within MOP.

    if the seller decided to be nasty and reports you, you will get into trouble.

    hence HDB always remind pple not to enter into such extended stay/rental agreement with seller cos you can't do that!

    marshmallow, is correct.

    Also, lease periods in Singapore have to be 6-months or more.

  9. Posted · Edited by Plastic3

    tend to agree with rental yields not being very attractive at the moment, jmo. remember also that when the agent calculates the yield for you, do ask if it's net or not (net being less maintenance, mortgage interest, costs if the unit lays idle, other costs involved such as fees for renting out, sprucing up the place etc etc).

    Agents usually calculate gross, I have also started to calculate only gross yield, as I realise everyone have their own approach to calculating net yield.

    For Agents it is better to just calculate gross yield than to risk being accused of "misrepresentation" if the net yield calculation differs.

    Best,

    Mark

  10. Posted

    1. Pte property selling, mkt norm is 1%(of selling price)+gst to agent. Pls take note: buyer needs not to pay comm to agent for pte property. You can sign exclusive contract with agent, comm will be 2%+gst. Exclusive contract meaning "the one and the only one" you appoint him/her (one party) to sell, contract usually valids for 3 months and "auto-renew". Read all cluses before signing up. Wise to add another 10% of your intended selling price, and put this figure in the contract.

    Hi bepgof,

    There is no more "auto-renew" clause with CEA prescribed forms.

    Now maximum period is 3-months, after that sign the form again to extend.

    Best,

    Mark

  11. Posted

    Hi Plastic3, yes, especially look forward to the new NSE and Aircon Bus interchange, hope that when all is completed, our property prices will go up :dribble:

    Average prices for a 4-room flat in AMK, Bishan & TPY is about $430k-$470k, buyers who can't afford those areas usually will move further north to Yishun where the 4-room average price is about $340k.

    With the new improvements there's likely to be increased demand in Yishun flats :)

    Best,

    Mark

  12. Posted

    Thanks! :D

    Wow, you know which unit I'm talking about huh? Oh yeah, you're also from DWG....

    Anyways, to anyone reading this post, during this whole resale saga, after dealing with 3 ERA agents and 3 DWG agents (including Mark, if you don't mind, I'm basing this on your posts so far), i seriously think agents from DWG are better then ERA..more straightforward, forthcoming and sincere....

    I live in Yishun, I make it a point to know most (if not all) of the units selling in Yishun :)

    That unit is being marketed by more than 1 agent + it's divorce case thus it is prone to complications.

    Best,

    Mark

  13. Posted

    In the end, the agent found out that the seller did another open house on Thursday, without informing his own selling agent. He did it through another agent! He was trying to use our offer to bait for higher offers!

    This is the second time we came close to getting a unit and were let down by the agent/seller. But at least this time I found both the agents (one represent buyer, the other seller) from DWG very conscientious. We didn't engage the agent, we found the ad on the net and called, so the selling agent got his colleague to be our agent. Both of them never pressed us to close the deal, and actually reminded us to not make hasty decisions because, to quote the agent 'ultimately, you will be the one staying in there for a long time'. And even when they returned us our cheque today, they were very nice about it, although we told them we were no longer looking for a resale. Then they told us about the seller story, which they only just found out as well. They now advised us better not to take the unit, even if the seller decides to turn back to us, to prevent future issues as they found the seller lacking in honesty...

    Yishun St.81 block 87x ?

    Glad to hear you've found a home :)

    Best,

    Mark

  15. Posted

    I'm at Street 11, moved here about 14-years ago downgrading from AMK.

    The new & upcoming developments will make Yishun a better place to live in...Khoo Teck Puat Hospital, rejuvenated Yishun pond, NSE, Aircon Bus Interchange (new bus service to JB)

    You may have seen me if you go jogging at the Yishun N'hood Park behind Sembawang Town Council weekday mornings......or when i'm running around Yishun serving my customers :)

  17. Posted

    Did CEA get back to you? My experience with CEA has been horrible. Nobody gets back to you on the status. Call nobodu answer, email bounced. Last straw, send email to the "Contact Us" listed in the CEA website and if still no picture no sound, will go down to CEA office again and KPKB.

    Friends have been asking us to go straight to media and don't bother to get response from CEA. Agency also don't bother to contact us to find out details.

    I think CEA is understaffed, only 33 staff if I heard correctly...

  19. Posted

    Also, to all Bros and Sis that offered valuable advices and knowledge along the way, sincerely thank you !! Will update once my 1st Appt is smooth... ... keeping my fingers crossed, really hope all goes well....

    (till today, I really do not know why the delay delay ; as stated in previous post , but am just happy that my (MyHDB page) page reflected all had been submitted and 1st Appt time is being processed, although I wasted a valuable 2 weeks in the transaction, am just happy now that I finally get my 1st Appt date anytime today )... ..

    Good to hear that :)

    Best,

    Mark

  20. Posted

    still no dream home in sight...i've got myself another agent, with the same criteria, looking for 4A to 5 room in bishan, shunfu, ang mo kio and even to serangoon north, but he keeps bringing us to see 4A in bishan and 1 in sin ming..

    Anyway, recently my HLE application plus appeal got rejected, due to the income ceiling thingy....after I smsed him about the first HLE rejection, never heard from him again...sigh....maybe I'll be looking for Plastic3 soon....

    What about bank loan?

    I may have a 4-room in Bishan for sale, but it is "NG" model

    Best,

    Mark

  21. Posted

    Hi,

    I am interested to get a resale flat (preferably EA) but at the moment i had a pte condo on hand.

    Does any of the new HDB cooling measures affect me for getting a resale flat?

    How about the loan part?

    regards.

    With the new rules, private property owners have to sell their private property if they intent to purchase a HDB flat

    Bank Loan amount:

    - 60% (with outstanding loan)

    - 80% (w/o outstanding loan)

    Best,

    Mark

  22. Posted · Edited by Plastic3

    Hi Plastic3,

    U mean the agent ask TS to sign on an empty OTP(i.e seller has not sign) and take $5k deposit. And it is not consider granting the OTP to him?

    I am not 100% clear regarding this case, since i'm only interpreting Kobelala's posting here...not sure if any detail is missed out...

    Assuming the worst case scenario: if OTP is not yet signed by Seller,

    in the event the Seller decides not to sell for whatever reason there is no proof to say that the Seller has agreed to sell the flat to Kobelala

    Alternatively, after cooling period...Seller signs the OTP & submit the case to HDB, maybe the Agent just has a strange way of doing things...

    My advice is...

    that buyer's $1000 option fee is always given in exchange for a signed OTP never settle for anything less

    Best,

    Mark

  23. Posted

    I do not want to pin them down on the wrong procedures as yet and I can only assume that both agents are trying to secure my cheqs and signature first and thereafter proceed with the proper procedures. I am ok with the arrangement thus far so long there is nothing in between the lines and they pull thru the deal.. ... and I understand what they are doing now slightly better; but the forms in my posession now are ;

    a) My signed copy of CEA Prescribed Est Agency Agreement Form (2)

    b) The agent's company comm agreement form.

    c) 2 simple receipts of Valuation report n resale submission fee.

    Can i check with Senior Bros n Sis-s :

    a)What other forms should I request from my agent ??

    b) What are the repercussion I may have in this case ? (can the agents play me out if they have a better offer or if the owner refuse to sell... ??)

    c) I intend to continue looking for other flats in case this case dosen't pull through, I will stand to lose ony 1k or all 5k if I cancel this transaction ?? (like I said I'm in need of a flat badly for my marriage)

    Really thankful for all your replies and advise.. .. (i am not revealing the name n sex of my agent as i am still giving the agen my benefit of doubt) .

    A] Technically once you have given the cheque Seller should grant you the OTP, but in this case they have not submitted their Seller's checklist so they cannot grant you the OTP yet

    B] Since you do not have the OTP, the Seller may not honor the deal if they get a better offer

    May I ask when you view the unit, was it the very first day the unit was released in the market?

    Did you make your offer within a couple days of viewing?

    Best,

    Mark

  24. Posted

    Standard procedure:

    1] Sellers complete checklist submit to HDB (7 days cooling period till granting of OTP to buyer)

    2] Buyer complete checklist

    3] Buyer exchange option fee($1000) for OTP (14 days consideration, or exercise immediately)

    4] Buyer exercise OTP pay $4000

    5] Submit case to HDB before number of days stated in OTP (page 4)

    6] 1st appointment date depends on availability (check HDB web)

    7] 2nd/completion 6-8weeks from 1st appointment

    you can print this page:

    http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...TP?OpenDocument

    and discuss with your Agent, the only cooling period is between step 1 & 3, after that there is no cooling period...

    Best,

    Mark

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