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schiz0id

What Is A Reasonable Cov?

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MBT likes to use this phrase: "Willing seller willing buyer". :rolleyes:

Willing seller willing buyer, no right or wrong. As a seller u want to sell high, as a buyer u want to buy low.

If u r not happy about the asking COV, just walk, plenty for u to choose from. I will not use the median COV given by garment.

 

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"Willing seller willing buyer" more applicable to resale market/private market. In resale market, u have PRs to compete with you, depending on who has deeper pocket, who get the unit.

But buying new direct from HDB should be cheap cheap not tied to resale market rate. Garment should have more measures to discourage Singaporean from speculating.

MBT likes to use this phrase: "Willing seller willing buyer". :rolleyes:

 

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I suppose it all really depends on the supply and demand of the unit (eg not many units available for sale in mature estate, esp where a lot of old folks are staying), the level which the unit is at, reno, view, proximity to parent's house etc and how much value the buyer is willing to attach to these factors..Value is in the eye of the beholder...

$80k is not unreasonable if the above factors are met. In fact, I just sold my 25-year old EM in Serangoon area with a $105k COV in December last year. No bulls..

 

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there is no reasonable COV.

If Bill gates pay for 100k cov, to him is peanuts.

If you consider 100k cov, you post in this forum.

I suggest you look around than pay for such cov. Do not be tempted by big size unit and the love of it. Remember LOVE is BLIND ...after purchase it, you regret for life ...

Sometimes it is NOT your luck to buy such a big house ...if you are lucky, people offer you smaller cov. But it is face-front unlucky that you are "forced" to pay for high cov.

I suggest you move on and look for alternative unit. However do not blame the market price for the ups as interest is very low now. Life is like that.

I am sure when market is down, it will certainly be a buyer market as well.

 

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Guess WHAT Khaw Boon Wan will say/do about resale price and COV.

"Willing seller willing buyer" more applicable to resale market/private market. In resale market, u have PRs to compete with you, depending on who has deeper pocket, who get the unit.

But buying new direct from HDB should be cheap cheap not tied to resale market rate. Garment should have more measures to discourage Singaporean from speculating.

 

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Bro, your post got:

-"Peanut", sound very familar.

-"Love is blind", also very familar, just heard abt the TCS couple....

- "Regret for life", no lah, "regret for 5 years" is more appropriate, after MOP is over, can sell/buy mah!.

- "Not your luck to buy big house", must read bazi before viewing and buying, not $ & cents?

- "Do not blame", if I never "niam", you say I "tiam tiam". I "feedback", you say I "complain".

- "move on"..."life is like that", I like these.

- Market down, all "tiam tiam" & "siam" liao.

Anyway, I'm sure BG won't buy HDB resale, simply he has better CHOICES!. Why? simple rule: Got $ got more choices.

there is no reasonable COV.

If Bill gates pay for 100k cov, to him is peanuts.

If you consider 100k cov, you post in this forum.

I suggest you look around than pay for such cov. Do not be tempted by big size unit and the love of it. Remember LOVE is BLIND ...after purchase it, you regret for life ...

Sometimes it is NOT your luck to buy such a big house ...if you are lucky, people offer you smaller cov. But it is face-front unlucky that you are "forced" to pay for high cov.

I suggest you move on and look for alternative unit. However do not blame the market price for the ups as interest is very low now. Life is like that.

I am sure when market is down, it will certainly be a buyer market as well.

Edited by bepgof
 

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Yishun & woodland have many "Jumble" flats, why? Because, once upon a time, there were too many 3rm flats built but no body wanted, so HDB came with a formular: 3+3 = 1. Bedok has some too, with 2 main doors but 1 unit #..... can goes as "big" as 172sqm. In term of location/convenience, I believed all these "Jumbo" flats are "out".

I suppose it all really depends on the supply and demand of the unit (eg not many units available for sale in mature estate, esp where a lot of old folks are staying), the level which the unit is at, reno, view, proximity to parent's house etc and how much value the buyer is willing to attach to these factors..Value is in the eye of the beholder...

$80k is not unreasonable if the above factors are met. In fact, I just sold my 25-year old EM in Serangoon area with a $105k COV in December last year. No bulls..

 

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Hi there,

Me too looking for jumbo unit in Yishun or Woodland. Been to just 2 viewing abt 2 week ago in woodland.

Location wise v far need to walk 15mins to 20mins to MRT.. Owner r asking for 55k COV which condition of the flat are so so only.

My requirement for jumbo. Min 4 bedroom with 3 toilet as we got 6 adult to stay together for now.

Has been searching for it but the jumbo price are getting sky high.

Regreted tat we didnt buy the jumbo 2 yr back while the COV are still low compare to now.

 

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i can understand why people want big space even though the couple is a first timer.

And if u look at long term, bigger space is good for mental health, rather than a cage !

For newbie getting married, plan for bigger space, than do a "upgrade" in future for a big space.

For myself although i have a family of 4, the minimum "next" stay must be at least bigger than what i stay now. Again i cannot afford it since price is high, but to stay in a small 1500 sq feet now.

And for your info, my mum ALONE stay in a 125 sq meter and don't even want to share out .so everyone appreciate big space, etc.

I guess maybe in future, the trend could be combining 2 of 3-room flat or jumbo ...that could be a plus for people wanting big space.

 

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just to share my angst and disgust for PRs raking up COV prices. around march 2009 (coz i rem after CNY), my grandma's next door neighbor in bukit merah (the new flats behind ikea) owner out of job so LL need to sell his 5room and downgrade to 3 or 4room. Agreed to sell to my aunt for 30k cov and my aunt paid him 5k down. 1week later, neighbor said malaysian PR offered 80k cov but since neighbor neighbor, if we can offer 60k then still sell to us. transaction was cancelled and although contract said must return 2x deposit = 10k, only return 5k original deposit. intention to buy next door was to engage maid and take care of my grandma after surgery since old folks don't like strangers to stay in their house.

few weeks ago, i visited my grandma and she said malaysians are very clever, buy flat at high cov but never stay, rent out to fellow malaysians. since inside got 4rooms, they close 1room (study) and rent out 2normal rooms $700 and masterroom $950. coz that's what the tenants told her! PRs are from ipohs, they share another condo with their relatives. but strangely, my grandma never felt that the malaysians PR buying and renting are wrong...old folks never go school cannot think so cannot blame her.

i got pissed off and call hdb to tip off...see this is how PRs make money at the expense of singaporeans. the amount of rental they make can easily cover the high COV but us singaporeans are buying hdb to stay not to rent, how to afford high COV

 

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Rant.

It really is a shame when such ill informed bigotry rears its ugly head.

So lets recap, based on your description of events.

Your aunt paid an unofficial 5k deposit to buy the next door neighbours 5 room apartment to be used for her and a maid. She signed a contract with presumably no legal basis stating that she would get 2*deposit if buyer pulled out. Neighbour was then offered better deal and tried to hike price of your aunt. Neighbour broke non-legally binding contract and sold for more money than your aunt could or would pay. Aunt didn't file a claim against the seller, possibly because the contract was not legally binding.

Whos fault was it the neighbour sold to the other person....... the neighbours.

Whos fault was it that your aunt did not get an OTP ...... your aunt

Whos fault was it that the contract signed for the 2*deposit was not binding or not perused ........ your aunt

If the buyer is not living there then let the HDB know as I believe they need to be resident for a minimum time.

I take it you personally saw his PR status NRIC.

I wonder how loudly you would complain if it was a Singapore citizen downgrading from a condo to a 5 room that outbid your aunt. Sounds like you are just sore that someone offered more cash than your aunt could afford and just happened to be a PR so you thought you would focus on that considering the current anti-PR sentiment in Singapore concerning housing.

I believe that anyone, whether PR or Citizen should only be able to own 1 residence in Singapore. It seems you feel that should only PRs should be restricted this way. Citizens should be able to do just as this PR did without you seeing a problem with that else why would you highlight a PRs only as being the problem. If you think citizens are not renting you are very misinformed. Maybe you should look at the Expat sites where PRs regularly relate stories of citizen owners treating PR renters very badly whilst spooning in the very high rental prices they charge. "don't like me hike rent.... find somewhere else to live, don't like I don't fulfil my contractual obligations.... find somewhere else to live, Leaving now..... I make up damages you owe so no get deposit back." Those are common complaints heard by expats when renting in Singapore.

I would suggest you look closer to home rather than blaming all PRs for what seems to be trying to deal for a cheap apartment, failing to follow official procedure and loosing out.

RB

 

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It really is a shame when such ill informed bigotry rears its ugly head.

So lets recap, based on your description of events.

Your aunt paid an unofficial 5k deposit to buy the next door neighbours 5 room apartment to be used for her and a maid. She signed a contract with presumably no legal basis stating that she would get 2*deposit if buyer pulled out. Neighbour was then offered better deal and tried to hike price of your aunt. Neighbour broke non-legally binding contract and sold for more money than your aunt could or would pay. Aunt didn't file a claim against the seller, possibly because the contract was not legally binding.

Whos fault was it the neighbour sold to the other person....... the neighbours.

Whos fault was it that your aunt did not get an OTP ...... your aunt

Whos fault was it that the contract signed for the 2*deposit was not binding or not perused ........ your aunt

If the buyer is not living there then let the HDB know as I believe they need to be resident for a minimum time.

I take it you personally saw his PR status NRIC.

I wonder how loudly you would complain if it was a Singapore citizen downgrading from a condo to a 5 room that outbid your aunt. Sounds like you are just sore that someone offered more cash than your aunt could afford and just happened to be a PR so you thought you would focus on that considering the current anti-PR sentiment in Singapore concerning housing.

I believe that anyone, whether PR or Citizen should only be able to own 1 residence in Singapore. It seems you feel that should only PRs should be restricted this way. Citizens should be able to do just as this PR did without you seeing a problem with that else why would you highlight a PRs only as being the problem. If you think citizens are not renting you are very misinformed. Maybe you should look at the Expat sites where PRs regularly relate stories of citizen owners treating PR renters very badly whilst spooning in the very high rental prices they charge. "don't like me hike rent.... find somewhere else to live, don't like I don't fulfil my contractual obligations.... find somewhere else to live, Leaving now..... I make up damages you owe so no get deposit back." Those are common complaints heard by expats when renting in Singapore.

I would suggest you look closer to home rather than blaming all PRs for what seems to be trying to deal for a cheap apartment, failing to follow official procedure and loosing out.

RB

Flat sold 2009. Today 2011. I call hdb and ask if they close 1 room can rent like that meh. The tenants themselves said the owners have never lived that from the beginning. Anyway i'm only ranting, free to rant. I'm not even qualified to buy hdb so i unhappy cannot meh. HDB post tip off hotline big big then i call loh. come and catch me lah

 

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