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Just went to view a 4NG at Blk 229 Tampines St 23 today. The whole flat is in a really bad condition, with dirty walls, peeling ceilings and cracked tiles.. Everything needs to be reconstructed completely; ranging from damaged toilets (no heater even) and kitchen cabinets (no stove), to even basics such as cracked windows, walls, tiles and doors.. Considering all the costs to bear, is 430k (no COV) a justified price to offer?
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4 Answers

Mike Lim
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Evening Mr. Lim,

The past transaction for units around that area is around $438k. Hence getting similar sized unit at $430k would be a good grab. They are buyers who paid high COV but then required to re-renovated everything. Getting a run-down unit and low or zero COV allows you to do up the entire unit to your taste. However, is this unit located at your ideal location? Does it have any noon sun issues? There are many factors to look into before deciding.

FYI
Mike Lim
 96929209 
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Geryl Lim
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Hi Mr Lim,

Consider this:

If you are purchasing from HDB direct, I am pretty sure you will also need to do up everything, although the condition may not be as bad, but extent of work would be pretty similar. You are not paying any COV for direct HDB, therefore I would say for this unit without COV is fair.

Regards,

Geryl LIM
District Manager/Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
ECG Property Pte Ltd (L3009759F)
Dynamic Alliance Group @ www.DAG.com.sg

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YT Tan (陈永达)
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Hi Mr Lim,

In this current property market, even for a bad condition unit, it will definitely be up for negotiations on the COV portion between seller and buyer.

Maybe you can try to find out more on the reasons for sale.

If you think everything is good to go, this deal definitely is a very good bargain for a unit in Tampines.

Best wishes!

Warmest Regards,
YT TAN
District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
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Koh Zhen Hon
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Hi,

Regard to your question. Why not you just drop me an email at ot1984pierre@gmail.com or Contact me @ +65 8 2 7 9 8 3 2 7

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Shalom

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Koh Z H
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