How Do You Decide Your Cov Price...

[blueriverview 0]

My neighbour sold her 3rm flat at top floor for $40k COV! Her asking COV was $48K. Hmm, I wonder any forummers here ever pay above $40k COV for their house??

I paid zero COV for my EA flat 6 months ago. high floor and 600m from MRT, no ah-long confirm.

if have the patience and the time...surely there is a good deal out there....oh also no agents involved.

[MrsLoo 1]

I paid zero COV for my EA flat 6 months ago. high floor and 600m from MRT, no ah-long confirm.

if have the patience and the time...surely there is a good deal out there....oh also no agents involved.

Lucky for u, ur seller must be earning a lot already that's y they can sell at valuation. How I wish the market can be like 8 yrs ago, I also did not fork out any COV.

[Velarine 0]

wow, Blueriverview, zero COV, you are so lucky!

As you can see those beautiful houses at T-blog, these owners spend so much $ and time to renovate their house, some even have 'blum system' for their kitchen cabinets, I'm sure they will wish to sell their house at a high COV in the future and won't compromise selling their house in future at zero COV right. So if seller spend alot on renovation and the house condition and location is good,it is reasonable to pay them a sum of COV at market rate.

Therat

Glad to hear that you bought a house with no blocking view and it's windy! Good neighbours too! That is considered good 'fengshui' house hee. Congrats! It's indeed worth it!

[yuy 0]

Lucky for u, ur seller must be earning a lot already that's y they can sell at valuation. How I wish the market can be like 8 yrs ago, I also did not fork out any COV.

This cov thingy has become a default additionals to every flat liao

even for those super original, bad location n low flat unit, they olso expect some cov, eg $15k.

but the issue is, what are we paying the $15k for?

Haiz ....

[Velarine 0]

I also don't understand why 3rm COV is higher than 4rm and 5rm?? Was told by agent that demand for 3rm is more than supply??

[yuy 0]

I also don't understand why 3rm COV is higher than 4rm and 5rm?? Was told by agent that demand for 3rm is more than supply??

mayb it is becos the quantum is smaller, hence buyers can "afford" to pay more on the cov ... zzz .....

[MrsLoo 1]

mayb it is becos the quantum is smaller, hence buyers can "afford" to pay more on the cov ... zzz .....

It also partly depend on the estate itself, old estate more 3 room, more supply, thus seller will lower down their COV. Tampines is getting more congested n lesser 3 rooms, thus when seller asking also rocket high. I viewed an unit rented to Indian FT, the whole house need total overhaul, not even the windows or doors can use, the seller asking for 35k COV, and it's mid floor not even near interchange.

[blueriverview 0]

cov is required by seller to pay for his agents fees also.

Agents are partially responsible for driving up market prices.

[yuy 0]

cov is required by seller to pay for his agents fees also.

Agents are partially responsible for driving up market prices.

Tats oso the reason why I dun wish to go through agent to buy.

I deal directly with the seller's agent, lesser cov manipulation.

[blueriverview 0]

not too long ago when market was **** good...many seller agents will not entertain direct buyers...insist you go through their 'fellow' buyer agents...even you make an fair offer, they may not even communicate your offer to the seller. Thugs!

Don't even say make offer...we don't even have the chance to view certain good units that are kept exclusive within the agents circle.

Nowadays market is bad...anybody can walk in and make offer...

[onions2hot 0]

not too long ago when market was **** good...many seller agents will not entertain direct buyers...insist you go through their 'fellow' buyer agents...even you make an fair offer, they may not even communicate your offer to the seller. Thugs!

Don't even say make offer...we don't even have the chance to view certain good units that are kept exclusive within the agents circle.

Nowadays market is bad...anybody can walk in and make offer...

I come across this situation!! **** angry! I once view a flat and state I am a buyer, the agents let me view the flat( prime location)and let his colleague service me,after viewing,I told his colleague I dun need a agent as I'm asking my aunt who is a agent to do it for me. I like the unit and the COV price is ok to me. The agent won't want to commit a deal and said wait for the valuation to come out. So I told him pls call me once the valuation report comes out. After two weeks I call him,he told me the unit had been sold off. He didn't call me juz becos I didn't used his colleague as my agent. I told my aunt,she told me if i used his colleague,this agent can draw 50% from his colleague which is half percent,he gets 1 percent from the owner! No wonder his face changed when I told him I got my own agent!

[passingcloud 0]

I called up the seller agent to arrange for a viewing and she assigned a colleague to service me instead.

The colleague of her acts as a buyer or seller agent?

I come across this situation!! **** angry! I once view a flat and state I am a buyer, the agents let me view the flat( prime location)and let his colleague service me,after viewing,I told his colleague I dun need a agent as I'm asking my aunt who is a agent to do it for me. I like the unit and the COV price is ok to me. The agent won't want to commit a deal and said wait for the valuation to come out. So I told him pls call me once the valuation report comes out. After two weeks I call him,he told me the unit had been sold off. He didn't call me juz becos I didn't used his colleague as my agent. I told my aunt,she told me if i used his colleague,this agent can draw 50% from his colleague which is half percent,he gets 1 percent from the owner! No wonder his face changed when I told him I got my own agent!

[MrsLoo 1]

I called up the seller agent to arrange for a viewing and she assigned a colleague to service me instead.

The colleague of her acts as a buyer or seller agent?

I think there's a new rule for agent, they can't represent both seller and buyer because there will be conflict of interest. By right if you are direct buyer, you don't even need to pay that 1% commission to the seller agent because he is representing seller. Some good agent will said that he will not collect comm from you, maybe just an ang pao for his work, but some will asked his colleagues to co-broke.

[yuy 0]

not too long ago when market was **** good...many seller agents will not entertain direct buyers...insist you go through their 'fellow' buyer agents...even you make an fair offer, they may not even communicate your offer to the seller. Thugs!

Don't even say make offer...we don't even have the chance to view certain good units that are kept exclusive within the agents circle.

Nowadays market is bad...anybody can walk in and make offer...

hey, tis is very true. a couple of months ago when I decided not to go thr agent, it is so hard to get viewings cos they claimed to be serving the buyers (they hesitated a while b4 answering me) Nowadays most calls I made r seller's agents.

[onions2hot 0]

I called up the seller agent to arrange for a viewing and she assigned a colleague to service me instead.

The colleague of her acts as a buyer or seller agent?

The colleague will act buyer agent and collect a full 1% frm me,the flat is found by me through property guru,I dun want to pay that kind of amount of $ when they basically do nothing. I pay my aunt a small sum of money for doing the rest of the transaction like negotiation with the owner on the second viewing and doing some document. 1% a lot leh....$4230 in my case.