Hdb Resale Cov - Cash ! (how Much Do You Have?)

[Sky_Ray 0]

Hi,

Just Curious to know how many Newly webbed couples out there have the Cash to pay for the Sky High $$COV

if you only left with the option to buy a HDB Resale.

For instance, you saw a nicely cosy HDB - 4RM flat in CCK, only 105sqm, not really near to MRT, maybe have to walk 20mins.

Not much renovation (but the Owner claimed it was a $30K reno), mid-floor, almost 20years plus - HDB valuation Tagged at $350,000.

You happily went for the showroom, were somehow satisfied and wanted it.

Then the Agent tell you, the Owner wants $380,000 - $30K COV above valuation, your jaw dropped, you have no @@ money @@

[JustMortgage 0]

Hi,

Just Curious to know how many Newly webbed couples out there have the Cash to pay for the Sky High $$COV

if you only left with the option to buy a HDB Resale.

For instance, you saw a nicely cosy HDB - 4RM flat in CCK, only 105sqm, not really near to MRT, maybe have to walk 20mins.

Not much renovation (but the Owner claimed it was a $30K reno), mid-floor, almost 20years plus - HDB valuation Tagged at $350,000.

You happily went for the showroom, were somehow satisfied and wanted it.

Then the Agent tell you, the Owner wants $380,000 - $30K COV above valuation, your jaw dropped, you have no @@ money @@

Walk-In-Selection or wait until you have saved up some cash before buying a property.

[born_again 0]

take a closer look at date on valuation report (its a gauge on how long the unit has been marketed) and u can give an offer either at val or a few k above val.

We ever viewed a unit that seller wanted to sell for nothing lesser than 500k when the val came out to be 440k. We didnt make any offer since val report was just days old. Saw agent marketing it every week in the papers as well as online. Agent called us again about a month later and said seller willing to sell at 480k. Told the agent that we would not pay so much for COV. A few weeks later, agent called up and asked us to give an offer. I think the unit later became affected by the ethic group criteria. Not sure what happened because usually same race would not have any problems selling to the same race though I know of a case that was affected by it but successfully appealed thru HDB. 3 months down the road, agent still marketing the unit. When the val report expired, agent was still marketing the unit. Up till today, the unit is still not sold and I think seller gave up.

Edited August 27, 2009 by born_again

[therat 18]

take a closer look at date on valuation report (its a gauge on how long the unit has been marketed) and u can give an offer either at val or a few k above val.

We ever viewed a unit that seller wanted to sell for nothing lesser than 500k when the val came out to be 440k. We didnt make any offer since val report was just days old. Saw agent marketing it every week in the papers as well as online. Agent called us again about a month later and said seller willing to sell at 480k. Told the agent that we would not pay so much for COV. A few weeks later, agent called up and asked us to give an offer. I think the unit later became affected by the ethic group criteria. Not sure what happened because usually same race would not have any problems selling to the same race though I know of a case that was affected by it but successfully appealed thru HDB. 3 months down the road, agent still marketing the unit. When the val report expired, agent was still marketing the unit. Up till today, the unit is still not sold and I think seller gave up.

i encounter this case.

seller insist on 60k COV. beginning like advertise every week.

1mth later. Still available. Seller agent smoke other agents. By telling lies to other agent. 1st lie, this unit is just out for marketing, 2nd lie, valuation not out yet. 3rd lie, VTO.

When agent bring their client (buyer) to view that unit. Valuation report is there and done 1.5 mth ago. asking 60K.

Since that day, the seller agent advertise everyday.