Some Qns About Buying A Hdb Resale

[kthc 0]

Have this question which i've posted on another forum. Will appreciate if you can share your advice. Thanks.

I’ve been looking around the paper and the various online databases, had some viewings and saw one last week which we think is suitable. Going to call the agent who brought us there to arrange for a 2nd viewing.

A few questions if you can help.

1. What should I look out for during this 2nd viewing? Unit was vacant when we visited, so some key things we’ll note are the sizes of the MBR & kitchen (is it ok if we take measurements??) and sun facing (was raining that day). Any tips or things we should take note?

2. We called this agent cos he advertised for another unit at the same block 2 weeks ago, and last weekend, he said there’s something similar and asked if we are interested. Does this mean that we have to pay the full 1% if asked or .5% like some other agents have asked before for doing the paperwork?

3. 5 room flat, going to try to press for $30k below valuation, seller first pricing is already $15k below, feasible? Agar agar, he/she has 4 months more to sell since they bought another HDB. Full renovation needed as the condition not very fantastic. Even at $30k below valuation, its still slightly above our budget but factoring the location, top up a little still can. Also factoring in the agent fees + stamp & other payments, it’ll be $20k above our budget…

4. Possibly a dumb qns but so what’s next, assuming after 2nd viewing, we are interested, what should I do?

Thanks.

[chronograph 0]

Have this question which i've posted on another forum. Will appreciate if you can share your advice. Thanks.

I’ve been looking around the paper and the various online databases, had some viewings and saw one last week which we think is suitable. Going to call the agent who brought us there to arrange for a 2nd viewing.

A few questions if you can help.

1. What should I look out for during this 2nd viewing? Unit was vacant when we visited, so some key things we’ll note are the sizes of the MBR & kitchen (is it ok if we take measurements??) and sun facing (was raining that day). Any tips or things we should take note?

Why do u want to take measurement? The unit is not even yours? Are you confident that u will get the unit?

Why not leave all the measurement after when you have bought over, plenty of time to do whatever u want. What u should focus is direction, ask the agent or check the val report should be stated or bring a compus, NS facing doesn't have direct sun. Check for leakage at the toilet ceiling, check for illegal reno, all these can be corrected before u take over, or paper agreement that owner should rectified before your take possession.

2. We called this agent cos he advertised for another unit at the same block 2 weeks ago, and last weekend, he said there’s something similar and asked if we are interested. Does this mean that we have to pay the full 1% if asked or .5% like some other agents have asked before for doing the paperwork?

Commission wise u can bargain with the agent. But never sign on anything unless u are sure, especially not signing on blank form.

3. 5 room flat, going to try to press for $30k below valuation, seller first pricing is already $15k below, feasible? Agar agar, he/she has 4 months more to sell since they bought another HDB. Full renovation needed as the condition not very fantastic. Even at $30k below valuation, its still slightly above our budget but factoring the location, top up a little still can. Also factoring in the agent fees + stamp & other payments, it’ll be $20k above our budget…

U need to find out whether there is any potential competitors. During the bargaining process it depends on who breaks first seller or buyer, can go either way.

4. Possibly a dumb qns but so what’s next, assuming after 2nd viewing, we are interested, what should I do?

Thanks.

Sign on the OTP, pay $1k, within 2 weeks exercised OTP pay another 4k. But yours is under val so not sure if u need to pay the $5k.

Agent to submit OTP to HDB and wait for 1st appointment, 2nd appointment, collect key.

[kthc 0]

Thanks for yr reply.

Measuring cos my wife is worried that the MBR is too small, its one of those odd shape rooms, probably designed by someone high on caffeine…. Place has no furniture so hard to gauge the amount of space we’ll have for a bed and wardrobe.

* facing, tilted a little more west if you know what I mean. Arranging to view again at 3-4pm type to see how hot it’ll be. Will using those V-kool stuff help? Good thing is the surface areas hitting the sun is fairly small, breath rather than length.

Fairly confident that we can get the place, if we are willing to meet their price. We’ll see, not in a hurry and prices should fall a little in another Q but if can get it at the price we want, won’t complain

[chronograph 0]

Thanks for yr reply.

Measuring cos my wife is worried that the MBR is too small, its one of those odd shape rooms, probably designed by someone high on caffeine…. Place has no furniture so hard to gauge the amount of space we’ll have for a bed and wardrobe.

* facing, tilted a little more west if you know what I mean. Arranging to view again at 3-4pm type to see how hot it’ll be. Will using those V-kool stuff help? Good thing is the surface areas hitting the sun is fairly small, breath rather than length.

Fairly confident that we can get the place, if we are willing to meet their price. We’ll see, not in a hurry and prices should fall a little in another Q but if can get it at the price we want, won’t complain

A floor plan will probably solved your problem.

NW facing is not too bad, only evening time a bit of sun only i know cos my previous 5I NW facing.

Where is it?

And good luck.

[kthc 0]

Seen again today, more west facing than I thought. Wife finds the kitchen too small and we'll probably look for alternatives again.

If we still end up choosing this, agent asking for 1%, not willing to negotiate.... A close friend said she'll help for .5%. But I don't think it'll be fair to first agent right???

Its in the North area. Wait till secure then say out;)

[waileong 0]

If he don't want to negotiate, you don't have to buy from him. Business is not about being fair. It's about bargaining.

You owe him nothing but a commission at the end of the sale and purchase.

He owes you nothing as well, except to do all the paperwork and facilitate the sale and purchase for an agreed fee.

IF you haven't agreed the fee, there's no deal, you're free to contract with someone else.

Edited March 13, 2009 by waileong

[chronograph 0]

Seen again today, more west facing than I thought. Wife finds the kitchen too small and we'll probably look for alternatives again.

If we still end up choosing this, agent asking for 1%, not willing to negotiate.... A close friend said she'll help for .5%. But I don't think it'll be fair to first agent right???

Its in the North area. Wait till secure then say out;)

Judging from what you said, it must be the improved type. My ex-5I kitchen area also very small. Look at it this way, small kitchen u can reach anything easily. We cook everyday, it will take time to get use to. 2 persons in the kitchen will seem crowded but do u need 2 to cook?

Family that doesn't cook will prefer a smaller kitchen, effective area can be given to living room bed room etc.

I think the concern is direction, more west can mean hotter evening which i cannot tahan.

1% is normal, but can bargain like no need to pay GST? If your agent has exclusive rights to the unit he/she is marketing then it will be a little tough.

[qiqi 0]

Judging from what you said, it must be the improved type. My ex-5I kitchen area also very small. Look at it this way, small kitchen u can reach anything easily. We cook everyday, it will take time to get use to. 2 persons in the kitchen will seem crowded but do u need 2 to cook?

Family that doesn't cook will prefer a smaller kitchen, effective area can be given to living room bed room etc.

I think the concern is direction, more west can mean hotter evening which i cannot tahan.

1% is normal, but can bargain like no need to pay GST? If your agent has exclusive rights to the unit he/she is marketing then it will be a little tough.

didn't know there are agents now willing to accept 0.5% comm....when do u start negotiating on the agents' comm? what happen if u like the unit but reluctant to pay that 1% comm?

there is a web called propzee.com, paying 50% of seller comm to buyer. but too bad not many seller there now...so a bit heart pain to pay 1% agent comm nowaday

Edited April 5, 2009 by qiqi

[pinkpetter 0]

Got. nowadays the economy not so good so some willing to take 0.5%. But at 0.5% they really don't earn much and not a lot willing. maybe 0.75% still ok ba. But waiving of GST definitely have more willing to accomodate. You negotiate this when negotiating the price of the flat lor.

[rendell 0]

Got. nowadays the economy not so good so some willing to take 0.5%. But at 0.5% they really don't earn much and not a lot willing. maybe 0.75% still ok ba. But waiving of GST definitely have more willing to accomodate. You negotiate this when negotiating the price of the flat lor.

Depend on demand and supply and how the agent like to play it ba.

[qiqi 0]

Got. nowadays the economy not so good so some willing to take 0.5%. But at 0.5% they really don't earn much and not a lot willing. maybe 0.75% still ok ba. But waiving of GST definitely have more willing to accomodate. You negotiate this when negotiating the price of the flat lor.

i c...tks for the info !

[dean 5]

1% exclude 7% GST although quite ex but i think it is worth it cos the housing agent can help you bargain COV from 5K to min 1K. 5 viewing of flat and within 1 day find and buy the resale hdb flat.

[plush 0]

didn't know there are agents now willing to accept 0.5% comm....when do u start negotiating on the agents' comm? what happen if u like the unit but reluctant to pay that 1% comm?

there is a web called propzee.com, paying 50% of seller comm to buyer. but too bad not many seller there now...so a bit heart pain to pay 1% agent comm nowaday

0.5% comm = 0.5 service, you want that? usually these 0.5% agents will not survive in the industry.