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We have looked to buy several units in Maplewoods condo. When we go back to the bank for a valuation, it is consistently 600-800k LOWER than the asking price. The same bank valued other condos and there was little or no difference. Why are Maplewoods sellers asking what appears to be inflated prices? I see lots of new construction around the condo so I would have thought if anything, prices would be lower. Can you help me understand the discrepancy? What do the banks know (or not know) about this development?
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1 Answer

Lee Chun Peng Adnic
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Dear Property Buyer/Owner

There are numerous reasons tangible and intangible let me explain in point form

1. Owner asking price is unrealistic and greed factor. Because when there are new development, the older development tend to appreciate not match the newer but closer. Owners who see the new development wants to up to the same as new development

2. MRT lines coming up

3. Valuation is base on last transacted price and depends on many factor like: lease hold, freehold, high low floor, size, furnishing, location and even the blk and facing.

It really depends, either you buy the inflated prices and help other owners to up their prices means new buyers will benefit becasue they pay lesser in cash.

So call me and let me help you look for better investment opportunity.

I will send you listings first and we see what we can move on from thereon.

SMS me at 96722265  your name, email and I will follow up with you within the next 1-3 days. Read More
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