AskGuru Q&A Community

Hi,

It is not uncommon to have COV, especially in areas of high demand, or if the unit has special attributes as compare to the other flats.

You can try to negotiate for a lower price, but that's also subjected to the Seller's agreement.

Many a times, Buyers go direct to Seller Agents thinking that they will be able to save on some commission. But little do they realize that by engaging a competent agent can actually help them prevent certain pitfalls, where overpaying for a unit is one of them.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi, yes you can. You could re negotiate with the seller agent and I’m sure the seller would also want to move on and not drag further.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Dear sir/mdm,

$40k difference is relatively huge in HDB pricing context, I am unsure what are the factors contributing towards you putting up this offer but it will definitely be good to have an open discussion with the seller. It is difficult to say if sellers will be agreeable to reduce price in such instance, however, I feel that the demand and supply of resale units in the location plays a great part in terms of the pricing, where if there is huge demand for units in the area with limited units for sale, this can drive up the expectations of sellers, thus they naturally will look into selling at a premium as compared to places where the is an abundant supply of resale units in the market for a small pool of buyers to choose from, and in this instance, I won't be surprise for a grossly under value transaction.

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
-----
Note: We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us!

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Visit and Like my facebook page at https://www.facebook.com/GerylLimSince2009/ - Aspiring To Be The Best Real Estate Agent In Singapore

Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

My self introductory video on https://www.youtube.com/watch?v=uZ6REQfdGSw
-----
Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More

HI,

There are lots of things could happen during a property purchase. Lots of thins unforesee or never thought off that could cost you a lot of money.

How does valuation work?

1) All valuation greatly dependent on past transactions, where the first few transactions are based on location; connectivity, amenities etc.

2) You have to understand what does connectivity means to valuer, and what are consider as amenities etc.

3) Lastly, condition of the unit, this actually will not mean much to valuer. There is a cap on amount they can insert under cunit's condition.

Without understand the above criteria, it is not surprise you fall in love with the unit and agreed with the seller's price.

In your situation, you will have to negotiate with the seller again. This is the only way, as you didn't consider asking price is way above the neighbourhood.
The worst is you forgo your $1,000 option and move on if all things fall apart. This is still better to incur higher cost in future when you try to sell and finds that you never get back your $40,000.

P.S. Do not try to patch a small hole by digging a bigger hole!

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://www.facebook.com/Homesellerbuyer/

Note:
Any response to our answer do not reach us until we scroll through each and every queries posted daily.
The best way to get a follow up is to whatsapp or email us directly. Read More

Hi

COV is common in the current market after circuit breaker period for some unknown reasons. COV is based on the current market price of the flat which is based on the demand and supply of the flats on a particular area. There is a high chance of paying COV if demand for flats at the particular area is high or supply is low. Thus high COV might indicate a general positive market outlook and advantegeous to the seller. Other reasons for high COV involved is the failure of the buyer to do a proper research on the market price of flats in that area and succumb to seller's demand easily. This is a common case for DIY buyer. However I should say COV of $40,000 is too huge. You may want to negotiate with the seller's agent although there is no obligations on the seller part to reduce the purchase price. If you decide not too exercise the option, you will lose out on option fee placed. Do contact me at 93375051  for a free and non obligatory discussions on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More