blueocean

Then agent will loose "bank referral fee" and "buyer's agent fees". And risk of buyers wanting to claim back the cancellation fee from agent because of breach of duty. Poor thing !

Wah ... so complicated ! It is like for example : - some people choose a higher cc engine or bigger cars although they are less fuel efficient ... - some people like to have a big condo unit ... but more house cleaning and more toilets to clean - some people have 2 cars - one for weekend (like a coupe), one for weekday It is a choice. But of course if cash/money is an issue, then have to moderate one's expectations to what is obtainable or reasonable ...

Thanks lilithfiend ... My parents never used these bathroom ventilation fans before so i never thought of them. Are they the kind that you turn on and off when you need to use them like a normal fan ? I just wonder what contributes to the humidity in the bathroom ... i think that even when you dont shower ... and if the house warms up enough, doesnt water evaporate from the toilet bowl to cause more humidity ? I close my house windows in the day when i'm out, and when i get back the air feels quite stuffy ...

The advice and conditions for the ethnic/SPR quota is quite clear (see http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...IP?OpenDocument ) : "The ethnic proportions and SPR quota are updated on the first day of every month. It is applicable for resale applications submitted to HDB for the same month. Buyers and Sellers have to ensure that the ethnic proportion and/or SPR Quota are met at the point of the resale application" The buyer's agent is quite new or inexperienced ? The standard checklist for every agent to check (1) bankruptcy (it will invalidate any contract) (2) verify correct owner and NRIC (3) verify eligibility (4) verify SPR/ethnic quota Anyway, the buyer's agent would be stressed ... as she has breached her duty of care to her buyers

Cost is just one factor to look at - the others is the experience of the contractor (previous jobs done ...), project management experience of the architects etc You dont want to re-construct and end up with a building that fails all the BCA checks and cannot obtain TOP ... Then end up spending more time in the civil court to sue the contractors for faulty workmanship Construction contract should adhere to the singapore insitute of architects standard terms and conditions ...

And if you house is still on a mortgage, some banks usually have a specific law firm and not just a "bank panel firm" for discharge of mortgage. If different firm, you will end up paying for 2 different lawyers ..

I think it is a lifestyle choice ... Maintenance issue is also the same for landed properties - gardening, pest control, leaking roofs etc. Every lifestyle has its pros and cons. Similarly, why would anybody get a Mini or a convertible ? It doesnt make sense functionally ... but its a lifestyle choice/car ....

I think no one can predict what the market is going to be like over the next 6 mths to one year. The market may represent an opportunity now or it may be at the edge of a mountain and waiting to topple ... Penthouse units are usually more difficult to rent out unless you have excellent unblocked views and high floor. Penthouse units also move slower compared to the more popular 2 and 3 bedroom units. I think the question is whether you are in a hurry to find a new place to suit your lifestyle needs - life is short anyway, are you willing to wait another 4 years? Have you checked the surrounding views of #05-27 ? I remember there is a muslim cemetery in that direction ... Build in area of that PH is about 1100 sf with the rest being a roof terrace and spa ...

I assume all 3 penthouses are in the same location. And the upper floor is a roof terrace with no build-in for all 3 units. For "own stay", waiting for it to TOP in 2015 is very long. Now left, option 2 or 3 : 4 year old unit and a brand new unit that will be ready at end of year, for about the same price. Hmm ... hard decision to make

Hi Lilithfiend, Can i ask what's the benefit of having a ventilation fan ? Have you seen those electric air cleaners or electric humdifiers (Sharp, Fujitsu brands etc) ? Thanks !

Why need to inform an agent of choice that you have found your own buyer ? A property agent is a "broker" which means he is supposed to bring a buyer or seller to each other. And not the seller bring the buyer to the agent. Else no point in paying such a high commission of 1% to agent leh .... What's more, for private re-sale, it is even more simple as there are no HDB appointments to arrange. Each party interects with his or her own lawyers. Just ask the lawyer to do the OTP and conveyancing including the discharge of mortgage of home.

If it is just minor works, you can just get the respective trades person to do the repairs for you. You should get some quotes and get a feel of the pricing. Sounds like you just need a painter, carpenter, air-con servicing person and electrician There are general contractors available but they will just sub-contract it to their sub-contractors and you just end up paying a premium for nothing. The general contractor is not going to be watching the workers all the time (if at all). Generally, i find that i always have to supervise the workers and make sure it is done properly.

Ferraria TOP in Sept 09 last year. The defects liability period finishes in Sept 10.

Any judgements from SCT yet ?

I hope you have been using the 2 weeks option period to get the loan offer letter from the bank and checking that the HDB sellers are not bankrupt and also to confirm the eligibility of the sellers to sell, and confirm that they are "real" owners of the flat. 2 weeks will pass by very quickly ....

I think a GCB would be the most ideal dream home ... can build from scratch from the plot of land. But would need domestic helpers else maintaining the house will be a nightmare ! These days, penthouses are not what they used to - no longer the bungalows in the sky. Any unit that has a roof terrace is a penthouse unit now Developers have been maximising these roof terraces to be sold as they do not count towards their GFA - and considered bonus GFA ...

An extract of BCA's CONQUAS score. Passing mark is generally above 80 points. Generally, i agree that CDL's build is good. Quintet by Centrepoint - Score 72.8 Raintree by Centrepoint - Score 80.2 The Sail by CDL - Score 94.8 Parc Emily by CDL - Score 94.8 Nassim Park by CDL - Score 80.1 Icon by FEO - Score 90.4 Vida by FEO - Score 89.5 Raffesia by FEO - Score 82.3 Sterling by FEO - Score 82.3 Eastpoint Green by FEO - Score 80.7 Shaughnessy by Allgreen - Score 90.7 Ballota Park by Hong Leong - Score 80.3 The Pearl at Mt Faber by Sim Lian - Score 77.8 Cosmopolitan by Wheelock - Score 87 I prefer to buy from big developers (and public listed). Less likely for them to fold. I avoid small developers. Have you seen SC Global and Wheelock properties ? Their finishings are nice.

Have you all checked the contract value of your claims ? Contract value is the entire amount of the contracted amount and not just the deposits. Cos if it is above $10,000 (or $20,000), SCT cannot hear you case ....

Avila Gardens ? One of the non-Tripartite development. Has sheltered car parking. Also quite old. Dhalia has a mini-mart and next to the Gale. I'm surprised no one asked about the build quality of the condos ? I guess location and the "feel" of the place is more important BCA's CONQUAS has a scoring for most of the condo developments.

This is a classic example of postdecision cognitive dissonance - "Buyer's remorse is the feeling of regret after a purchase. It is frequently associated with the purchase of higher value items such as a car or house. It may stem from a sense of not wishing to be wrong, of guilt over extravagance or from feeling that one has been persuaded by a salesman" There will always be a COV for premium like (1) Top floor (2) Corner (3) Close to mall (4) Close to MRT. You can always apply for a renovation loan.

Azelea Park is old. The parking is the open sort of parking without any shelter. But it is interesting to see the condos at Flora area - almost like a pictorial history lesson on how the designs of condo has changed over the years !

the sale of a condo is less regulated compared to sales transaction of a HDB. HDB has various mechanisms in place to protect both the sellers and buyers. The HDB OTP is a standard "OTP form and you have to obtain it from the HDB Hub itself. The standard HDB OTP specifies the maximum amount for exercising the OTP ($4000) and the maximum amount to get a OTP (not more than $1000). The terms in the OTP are fixed and cannot be altered. The OTP in the private market are done up by the agencies. All the OTPs will vary. Different agencies will have different OTP but the terms/conditions that vary are usually the conditions for the commission etc. There is no "standard" OTP for the private market. Before you start selling your condo, you need to know the market prices. Also get an indicative bank valuation of your place. Then decide how much premium you want to sell your condo at. Be prepared that buyers will always nego with you - so you need a negotiation buffer for your pricing Do you still have a loan to discharge ? Get the bank's appointed lawyer - else you will end up paying higher fees. Beware that some agents will ask you to sell lower so that they can close the sales earlier. If you dont have an agent, then you need to have your own OTP or you can get a lawyer to assist you. Also, you dont need to sign an exclusive to engage an agent but you need to be familar with agents' practice. But agents would like you to sign or may even pressure you to sign one. They are a number of condos being sold in the market now that have no exclusive or many agents marketing the same condo. I usually offer agents an incentive for getting the price i want. Essentially, they get X % if they achieve $ XXX price or a lower % commission if they achieve a lower price. Agents' fees are negotiable again - it is not fixed at 2% Sometimes it may be 1 to 1.5%. It all varies. The variable commission is fair because they can sell it at a higher price compared to what i could have myself even after deducting the commission cost. Anyway, for new condo projects, agents sometimes get as low as 0.3% - that's why they prefer doing the resale market. Beware of "Flip OTP" - in that they pressurise you to sell to "someone" at a low price whom is related to the agent, and then that "someone" then re-sells it again to a client. They will usually like to ask you to give a longer period of time eg from the norm of 1-2 weeks to 1 month before exercising OTP. They will give numerous reasons eg client trying to get loan etc Also, be aware that your agent may not necessary co-broke with other buyer's agents, so you will also not get a representative of all available bidders in the market. Your agent may end up controlling the flow of information to you. Check that the agent is a "current" agent with the company. I usually avoid small agencies. There are so many caveats and things to take note of and it is difficult for me to list everything down ... Good luck !

what about lodging a caveat of $5k to the house, so that when the house is sold, you will also have a claim to that house ?

Hi Chandler, Based on 1776 sf, the asking price of $1.25m is about 703 psf. I did a search and looked at all Ferraria Park units at that similar size, the last 2 transactions 08-02, 08-50 were closed at 701 psf and 713 psf respectively. Of course, each unit will have a minor price variation depending on facing etc. To nego for a $50,000 is asking for a psf of $675 psf. That will be a new breakthrough price at that psf. It very much depends on how desperate the seller is. Most sellers are pegging it to the pricing of the Gale. The new condo plot will launch within a year, and likely to sell at 7xx psf for a leasehold. Have you done an bank indicative valuation of that place yourself ? I usually use that to gauge how reasonable the asking price is. Before completing your purchase, check that you already have an approval-in-principle of the loan amount you are intending to get already. It will be very stressful if the bank does not approve it after obtaining OTP and then you got to submit multiple applications to all the different banks in those 2 weeks. Good luck !

then buy soundbar must also buy the same size and hope that it doesnt spoilt before shifting house again !