How much shd i bid for COV
- Thread starter bedokboy
- Start date
sgbabydoll
Active Member
Basically, I believe there is no need to be so honest with real estate agents. Don't have to divulge the maximum COV you are willing to pay because that may limit the number of units they will arrange for you to view. Just go for viewing with an open mind as it's not like you don't have a roof over your head now. You may also need to cast your net wider by opening up to the neighbouring estates since there aren't that many 3rm flats in Dakota or Joo Chiat in the first place.
sgbabydoll
Active Member
Know what you mean, Powder. Just that I did have a range of COV depending on the condition of the flat among other factors. If only minimum refurnishing is needed, paying a little bit more isn't going to be a problem.
Sometimes it is really not the doing of the buyer agents but the seller agent that play tricks. For example, encourage or allow bidding war, take "kopi money", etc.
Sometimes it is really not the doing of the buyer agents but the seller agent that play tricks. For example, encourage or allow bidding war, take "kopi money", etc.
sgbabydoll
Active Member
Yes, it will definitely worth the effort to take a look at other housing estates nearby. In the first place, there aren't that many 3rm flats for resale compared to bigger size flats since HDB has stopped building 3rm after 1985.
I have managed to bargain down a 65K COV to 40K mainly because the flat was in the market for longer than usual due to high COV. But I didn't buy that unit eventually because there were other negative factors that made the whole deal suck for me. If asking COV is too high just let reality set in for the seller. Buyers have nothing to lose not to buy an overpriced flat.
I have managed to bargain down a 65K COV to 40K mainly because the flat was in the market for longer than usual due to high COV. But I didn't buy that unit eventually because there were other negative factors that made the whole deal suck for me. If asking COV is too high just let reality set in for the seller. Buyers have nothing to lose not to buy an overpriced flat.
oh ya forgot to tell u guys.
haha, so funny, i'm so obliged to keep everyone updated. Hope everyone is entertained.
The buying agent called me and when i picked up he went, 'what happened?' repeatedly. I asked 'what do you mean?' and he said 'someone contacted the owner and dunno what happened lah'. Then I asked him, 'what do you mean?'. Then he was afraid to elaborate kept saying 'I dunno lah, what happened?'
I said I dunno what is going on but if he thinks I got in touch with the owner how can that be possible I don't even know who she is. Then he kept quiet. So I asked what's up with the deal so far and he still persisted old terms.
I sort of gave him a piece of my mind telling him my concept of how agents should conduct themselves. Their fee should remain agreeable with the parties involved, the assets in question do not belong to them and they have no right to squeeze more commission for themselves. How are they helping buyer and seller?
So I told him my offer is firm and nothing more than the current.
In my heart I also thinking, if these low-lives can't squeeze more out of me, there will surely be some way they will short-change me later since the issue of trust is no longer there and if there is going to be so much hassle getting the place, I'm quite prepared to drop the deal in a heartbeat.
Off to flat-hunting again loh. Haha.
haha, so funny, i'm so obliged to keep everyone updated. Hope everyone is entertained.
The buying agent called me and when i picked up he went, 'what happened?' repeatedly. I asked 'what do you mean?' and he said 'someone contacted the owner and dunno what happened lah'. Then I asked him, 'what do you mean?'. Then he was afraid to elaborate kept saying 'I dunno lah, what happened?'
I said I dunno what is going on but if he thinks I got in touch with the owner how can that be possible I don't even know who she is. Then he kept quiet. So I asked what's up with the deal so far and he still persisted old terms.
I sort of gave him a piece of my mind telling him my concept of how agents should conduct themselves. Their fee should remain agreeable with the parties involved, the assets in question do not belong to them and they have no right to squeeze more commission for themselves. How are they helping buyer and seller?
So I told him my offer is firm and nothing more than the current.
In my heart I also thinking, if these low-lives can't squeeze more out of me, there will surely be some way they will short-change me later since the issue of trust is no longer there and if there is going to be so much hassle getting the place, I'm quite prepared to drop the deal in a heartbeat.
Off to flat-hunting again loh. Haha.
sgbabydoll
Active Member
Original condition is good cos there is no headache to think what should go and what should be kept leh
haha no lah bedok, dun think that way...ur situation is somewhat similar to mine also that time during my own househunting...really brings back the memories haha.
imho, i wld suggest u to be wary of ur disgruntled agent like what u said. he's beginning to suspect something based on his phone call to u and he shld be feeling upset right now after failing to squeeze anything more from u. good that u stood firm too.
if i were u, i'd drop this deal and go look for others...i'm sure there are other houses out there which suit u.
imho, i wld suggest u to be wary of ur disgruntled agent like what u said. he's beginning to suspect something based on his phone call to u and he shld be feeling upset right now after failing to squeeze anything more from u. good that u stood firm too.
if i were u, i'd drop this deal and go look for others...i'm sure there are other houses out there which suit u.
ok. so means thomas and verge are of the opinion that since the situation is as such, there is really a high chance that i will kena bite from them in other ways if i proceed with this deal lah.
I also think so but I thot give the human race another chance mah. Haha.
But nobody told me agents are not humans.
I also think so but I thot give the human race another chance mah. Haha.
But nobody told me agents are not humans.
I am wondering.. as a buyer.. what is there to be worry about being "bite"?
At the very most, you won't be given priority to the house you are looking.. if for eg, the buying agent is making less money from you..
So, you can look for another house.
Sellers are more liable to be screwed if they sign on exclusive... When I sold my house, I sign on exclusive but I insisted on 1.5% commission instead of 2%... At 2% I can have many agents at my disposal.. so why the need to sign exclusive..
But as a buyer, you don't sign anything.. you are free to go to any agent.. or even to the owner directly if the owner has not sign any exclusive with any agents.
But to be ethical, if your buying agent is good and has helped you to scout for many units - it is only right for you to give him his commission if he finds the right unit for you.. well this is only applicable for HDB. For private, sellers don't pay commission at all which make more sense.
At the very most, you won't be given priority to the house you are looking.. if for eg, the buying agent is making less money from you..
So, you can look for another house.
Sellers are more liable to be screwed if they sign on exclusive... When I sold my house, I sign on exclusive but I insisted on 1.5% commission instead of 2%... At 2% I can have many agents at my disposal.. so why the need to sign exclusive..
But as a buyer, you don't sign anything.. you are free to go to any agent.. or even to the owner directly if the owner has not sign any exclusive with any agents.
But to be ethical, if your buying agent is good and has helped you to scout for many units - it is only right for you to give him his commission if he finds the right unit for you.. well this is only applicable for HDB. For private, sellers don't pay commission at all which make more sense.
duckyholic
New Member
sm,
for private, buyer is the one that don't pay agent commission at all, seller bear all agent fees....
for private, buyer is the one that don't pay agent commission at all, seller bear all agent fees....
I wonder, why would anyone tolerate any "bad agents" when you are the buyer?
You need not sign anything.. Just ask the agents to go fly kite..
I won't even tolerate bad agents if I am the seller.
bedokboy, What are you entitled to as a buyer? I am puzzled to think that you are entitled to anything. If the buyer's agent get you to the house you are buying, that is his job and you pay him for that. That is all.
You need not sign anything.. Just ask the agents to go fly kite..
I won't even tolerate bad agents if I am the seller.
bedokboy, What are you entitled to as a buyer? I am puzzled to think that you are entitled to anything. If the buyer's agent get you to the house you are buying, that is his job and you pay him for that. That is all.
YES u are.
the pple in your area saw the cov that Other pple in Better places are getting, and they want it Too... and the agents encourage them on it to get the 'rights'... it's a vicious cycle.
15k would be the level i set... i see no reason to be paying more when u have the ability to set this level. chances of COV exceeding 50k is remote in the area u're looking at, and the age of the estate isn't exactly very young...
If u dun get what u want, dun give others what they want... the deal is off. a good deal is one where both parties are happy... but when dealing with greedy pple, they will only derive satisfaction when they get the better of u... i avoid such buyers.
the pple in your area saw the cov that Other pple in Better places are getting, and they want it Too... and the agents encourage them on it to get the 'rights'... it's a vicious cycle.
15k would be the level i set... i see no reason to be paying more when u have the ability to set this level. chances of COV exceeding 50k is remote in the area u're looking at, and the age of the estate isn't exactly very young...
If u dun get what u want, dun give others what they want... the deal is off. a good deal is one where both parties are happy... but when dealing with greedy pple, they will only derive satisfaction when they get the better of u... i avoid such buyers.
definately u r overpaying it, leave alone the COV , the val of the house is far too high for a 3rm, several reason that contribute to high val maybe its reno / a corner unit/ the location/high floor/neat & nice that it affect the val/nearby amenities/ val around the area is abt the same / nice view / or market going crazy etc ..but definately this kind of val report is equivalent to / just a little slightly higher than or EVEN slightly lower compare to some 4rm in other areas...yes 4rm...
P/s :never let my views affect u..definately u have ur own reason for ur interest in the unit if not by now u will have already given up on tat unit..if u ask me abt the COV yes 30k indeed too much...realistic COV max 20k-25k
P/s :never let my views affect u..definately u have ur own reason for ur interest in the unit if not by now u will have already given up on tat unit..if u ask me abt the COV yes 30k indeed too much...realistic COV max 20k-25k
it won't be easy.
i have tried over the weekend.
marine parade asking 50-80k amenities and sea view if high floor enough.
central area asking 40-90k location and reno'd.
pine close which is stone's throw from Mountbatten MRT and offers sea view if high floor is asking 80-100k!!!
really challenging!
i have tried over the weekend.
marine parade asking 50-80k amenities and sea view if high floor enough.
central area asking 40-90k location and reno'd.
pine close which is stone's throw from Mountbatten MRT and offers sea view if high floor is asking 80-100k!!!
really challenging!
Hi Bedokboy,
You might want to use the hdb link below to check out the recent transacted prices for the district that you are looking at, to get a rough idea of the market.
The prices are inclusive of cov (not showing separately), but I think its good to have a rough idea of how much the market is going at.
http://services2.hdb.gov.sg/webapp/BB33RTIS/BB33PReslTrans.jsp
You might want to use the hdb link below to check out the recent transacted prices for the district that you are looking at, to get a rough idea of the market.
The prices are inclusive of cov (not showing separately), but I think its good to have a rough idea of how much the market is going at.
http://services2.hdb.gov.sg/webapp/BB33RTIS/BB33PReslTrans.jsp
sgbabydoll
Active Member
"marine parade asking 50-80k amenities and sea view if high floor enough.
central area asking 40-90k location and reno'd.
pine close which is stone's throw from Mountbatten MRT and offers sea view if high floor is asking 80-100k!!! "
These are COV for three rooms?
central area asking 40-90k location and reno'd.
pine close which is stone's throw from Mountbatten MRT and offers sea view if high floor is asking 80-100k!!! "
These are COV for three rooms?
