doraemon88

Hi , Jgal and forgotten pointed out important considerations besides COV. Thanks. I am referring to COVs only. As for valuations, I've no idea. I did noticed valuations are still high, some (but not all) units are even rising. My understanding is valuations depends on past transacted prices. So if COVs come down to a very low level, rises in valuation will also be very slow. Maybe someone can offer clues on how valuation work and in what circumstances will valuation drop. Thanks.

I've benefitted a lot from this forum, just want to contribute my two cents... This is just my opinion. I've been looking for a resale flat since six months ago. In end Sep, I viewed a flat which I liked very much. I made an offer of 62K two days after viewing. I thought the COV was reasonable (last offer was 60K). However, I was told it was already optioned. My wife and I both felt it was a pity as we missed a flat that we like and the COV was reasonable. This location/cluster that we are aiming commands a higher COV as it is very near MRT. Previously(before 30 Aug) we made two offers of 70K for similar units but were rejected. As I am actively looking for house myself, I can see COVs coming down quite a bit. In fact, for the past two weeks, there were other units with last offers of only 35K++ . (I am comparing units of same location and similar size). So it could be a blessing in disguise that I missed the opportunity to purchase the flat in end Sep. If not, I could have overpaid a lot. Well, I don't know but it seemed to me that COVs have come down quite a bit and this is probably just the beginning. I am no guru to give any advice, just want to caution buyers that they should observe the COV trend closely during this period as agents may not warn them of the market conditions. As for me, I'm willing to wait patiently for COVs to come down. Above is just my experience and opinion. Pls do not hold me responsible for your decisions.

Thanks for all your inputs. Really appreciate that!

Dear all, I need help for infor on this. Two weeks ago, I signed an Exclusive right of sale for my HDB. The agent told me I need to sign first before she will do the valuation for my flat, which she said she would bear the cost. She said she would not fill in the selling price until the valuation is done (and I can decide the price then). So my wife and I signed on it. However, I wish to terminate the so-called 'Exclusive right of sale' now due to some problems with the buying of another flat. What costs do I need to bear besides the valuation cost of about $180? There is a clause that state seller (owner) need to pay the 2% if he voluntary withdraw the sale of property. Does that mean that I still need to pay the 2%? Actually no advertisment or whatever has been done yet. She claimed she requested for the valuation already but I've not received any calls from the valuator yet. Appreciate any help or info. Thank you.