Poll For Cov Paid (2009)

[Ljas1370 0]

Hello all.. this is my VIRGIN post! Just know of this forum yesterday... and have been reading all the posts here with great interests.

I got myself a 3 room resale in Marine Parade, high floor, sea view, corridor but last unit before corner, 'original' condition but ok kept.. would need lots of reno unfortunately.... and very broke now with all the cash upfront.

OTP in Nov '09. First appt in Jan 2010, 2nd appt in end March 2010.

Paid 35k COV... i guess i kenna chop carrot head.... but well i love the east coast.....

Hello cypher,

You got a good deal my dear friend. Let me tell you, a 3 room flat at Jalan Batu was recently transacted at COV 40K above valuation. Moreover this unit is a original condition status. It means whoever buy this house need to do renovation. With the circle line to be completed Mid of Apr 2010, expect the valuation price in this estate and Kallang Airport to rise by another 10%. Even the Straits Times also announced it today that when the circle line is completed, it will boost up the property prices.

[mezz72sg 0]

sold my 103sqm 4A for 37cov and bot a 133sqm 5A for 7k cov 3 mths ago.

[Phantom 1]

sold my 103sqm 4A for 37cov and bot a 133sqm 5A for 7k cov 3 mths ago.

out of curiousity whats the location for both?

[ernieliew75 2]

out of curiousity whats the location for both?

Sold mine at 36K COV, and bought my 5I at 29k COV. Actually it also depends on the valuation. Like my neighbour sold his 4A at 45K COV cos his valuation is only 375K, and mine is 398K. The pricing of a similar estate is about there, and difference for closing sales is at most 15K difference. It doesn't mean higher valuation can fetch higher price cos neighbouring units are all selling about the same range, so if your valuation is higher than others, doesn't mean you can fetch much higher price than your fellow neighbour.

The valuation for the 5I I got is 353k, and I only got it at 382k. I viewed smoe other units nearby at lower valuation price but higher COV, and end up, overall pricing is thereabout. Just my 5 cents worth. Cheers.

[bigeyedfish 0]

Bought our EA at BP at 15k cov. Asking was 20K but we managed to reduce it. 11th floor, OTP July 09. Keys received Nov 09.

ernie, your 4 room is pretty expensive!

[cleong 1]

Hi Ernie would you happen to be the chap running a car detailing business?

Anyway I paid $35k COV on my EM at Serangoon North Ave 1.

[ernieliew75 2]

Hi Ernie would you happen to be the chap running a car detailing business?

Anyway I paid $35k COV on my EM at Serangoon North Ave 1.

Yo Bro Cleong, Yes I am, also fellow member in Yaris Club. Cheers.

Edited January 31, 2010 by ernieliew75

[forgotten 1]

Are the sellers' asking COVs dropping this month?

Wonder will the property market be affected by the poor stock market this month?

Edited February 12, 2010 by forgotten

[SGK 0]

Are the sellers' asking COVs dropping this month?

Wonder will the property market be affected by the poor stock market this month?

I got my Tampines EA, 10th floor at $25k COV. At the point of purchase we were quite happy because all other EAs that we have viewed are asking for more COV, some as high as >$100k. But after the purchase we found from HDB website that we paid the most for the EA flats in the neighbourhood .

5 days ago, we went for the 2nd appointment. The agent told us he just sold two units in the same block as ours and both were more expensive than what we have paid. There is also a 2nd floor Tampines EM just sold at $88k COV. So I think while I could have paid less have I started flat-hunting earlier, I am probably still luckier than the people looking for flats now.

[davidbslee 1]

I got my Tampines EA, 10th floor at $25k COV. At the point of purchase we were quite happy because all other EAs that we have viewed are asking for more COV, some as high as >$100k. But after the purchase we found from HDB website that we paid the most for the EA flats in the neighbourhood .

5 days ago, we went for the 2nd appointment. The agent told us he just sold two units in the same block as ours and both were more expensive than what we have paid. There is also a 2nd floor Tampines EM just sold at $88k COV. So I think while I could have paid less have I started flat-hunting earlier, I am probably still luckier than the people looking for flats now.

I agree. When I OTP my Tampines 3NG flat, very high floor which is very near to MRT and 3 shopping mall during last July. I paid 12K COV that time and now at least 20K - 50K above for a low unit in same block. So I am thinking I was lucky enough when COV rise super fast during Sep 09.

Edited February 13, 2010 by davidbslee

[noble04 0]

5K COV, 12 sty, point block, Pasir Ris and unblock view. Dec 09

[eby 0]

5K COV, 12 sty, point block, Pasir Ris and unblock view. Dec 09

Man! That's quite a steal! Lucky you!

Btw, looking at your reno requirement, I think it's gonna cost you more than your budget. But, if you have any lobang or managed to meet your budget with all the works you desired all in, pls do share with me. My requirement is similar to yours and it is already 40k - quoted by my ID!

Edited March 2, 2010 by eby

[CTY 0]

I sold my 4rm flat at Cantonment close at 31k COV; and bought a 5rm top floor unit at Kim Tian at 18k COV.

[bepgof 20]

Wow bepgof, your valuation is really high for a 5 rm!

I actually want to get an EA unit at bdk north ave 4 too...but the price there abit high.....

At last I settle for an EA at bedok reservoir (17yrs estate) for $500 + COV 18k = $518.

I stayed in 94D/BDN Ave4 for 13 yr @ sold off in 2006 @450K. Windy & quite/good air/good mkt, got ;got lot of nice landed houses, good for jalan jalan during evening time, but need feeder service.

I paid 10K COV late Aug for this "love at first sight" unit- saliva dripped!Before this, I've shortlisted to 3 pt-blks only, and actively searching, criteriors: morning sun/>20fl/"original condition"/ok neighbour. Wife, mom-in law, myself told seller's agent to act on my behalf and stopped all upcoming viewings, 20 mins after entering the unit, deposit paid,OTP signed on the spot!Beautiful! I spent near 100k for the reno, done end jan this year.

[flashlight 0]

(My virginal post)

I dealt at $295K+33K COV for a 3I corner well-renovated 70sqm unit at Jalan Bt. Merah. Will be exercising the OTP today!

Edited March 16, 2010 by flashlight