Looking to buy 1 or 2 storey FH terrace house

[CDL]

Prefer if it is in the East but open to suggestions and good offers elsewhere. Need at least 3 rooms and 2 bathrooms. Must have North-South facing. A garden would be nice but not essential. Not looking to do major renovations now, so must be habitable (and not super old looking).

Budget - S$1m

Pls PM me if you have properties that fit this criteria and provide me with all the necessary details (land area, 1 or 2 stories, inter or corner, facing, no. of bathrooms and rooms, valuation, which bank did valuation, when valuation done, tenanted or owner-occupied, if tenanted when is lease expiring).

 

[VroomVroomBoys]

Prefer if it is in the East but open to suggestions and good offers elsewhere. Need at least 3 rooms and 2 bathrooms. Must have North-South facing. A garden would be nice but not essential. Not looking to do major renovations now, so must be habitable (and not super old looking).

Budget - S$1m

IMHO, dun think you'd find it ... unless you are very very lucky becoz such a find (even if it does pop up) would be snapped up by the market watchers, before anybody here can even tell you about it.

For such a property in the East, I think a more reasonable budget would be $1.5m ... with $1m, you will have higher chance finding what you want in areas like Paya Lebar, Yio Chu Kang & Sembawang.
:wink: :wink:

 

[CDL]

Thanks for your input. As I indicated in my post, I am open to different ideas. Some members to this forum may want to assess how their property may fare should they sell it in the current market. Others may want to forgo paying an agent's commission - for landed properties, it is only the seller who pays commission. If property is sold without an agent, both parties will only have to pay lawyers' fees - commission at 1% of S$1m is S$10,000.....substantial savings in this market!

Let me know if you know of any such properties for sale

 

[VroomVroomBoys]

Thanks for your input. As I indicated in my post, I am open to different ideas. Some members to this forum may want to assess how their property may fare should they sell it in the current market. Others may want to forgo paying an agent's commission - for landed properties, it is only the seller who pays commission. If property is sold without an agent, both parties will only have to pay lawyers' fees - commission at 1% of S$1m is S$10,000.....substantial savings in this market!

You are buyer, right?
So, why are you bothered with what is gonna happen to seller?
Let's be realistic here ... you think sellers will share their savings with you ... or is it more likely that they will share their expenses with you?

You see, if the seller doesn't have an agent, then all their marketing expenses (ie adverts) will be self-borne ... so there is money output still, depending how soon they can sell of their property.
From my experience, seller do without an agent becoz they are of the opinion that their property is so sellable on its own ... which means that they will die die stick to their asking price ... which is usually higher than market prices.
So, you see, having an agent with you works to your advantage ... in impressing some realism unto the seller.

Lastly, let's say you are prepared to close the deal ... but becoz both parties are not represented (not to mention your own good nature or inexperience in general), the "option to purchase" is likely to be signed on a form that's drafted by the seller.
Worst still, if you dun have an agent but the seller does ... do you think he is gonna represent your interests properly since only the seller is paying him his comm?
In other words, no matter what the scenario is, WHO is there to ensure that the exercise or completion period, as well as other nitty gritties, is not actually to your disadvantage?

IMHO,you (as a buyer) are actually thinking too much already ... getting an agent on your side still means you dun spend a single cent more, becoz your agent would be getting his share of the comm from the seller's agent, under their co-brokerage agreement which is current market practice.
Also, unless you are paying your $1m purchase with cash & CPF only, you are able to get a legal subsidy through your bank loan ...

Hence, WHY should you give away your rights to be represented for free ... in exchange for a hopeful wish that the seller would cut price becoz there is no agent involved?
Even if you have an agent & the seller dun ... it's up to your agent to go negotiate with the seller to get his 1% comm (instead of the usual 2%) based on the services provided, to ensure everything in the transaction goes smoothly.

I can emphatise with the general sentiment on "why should the agent earn so much?" ... having traded a few properties in my lifetime, I've also seen agents who knows nothing but fill forms & take orders (worst when some dun even do it correctly) ... but I've also come across some very good ones who provides you with very good advices, such that you also happy to be paying him those 5-figure sums.

Just let me know if you need the contact of a good thinking agent ...
:wink: :wink:

Let me know if you know of any such properties for sale

Oh yes, after a good night's sleep ... it just occurred to me that there are 2 areas in the East where you might just find what you were looking for under $1m:

1) Joo Chiat ... prices are low becoz of the bad publicity generated by the sleazy businesses in that area, but the MP has been doing quite a bit to prevent this place becoming the 3rd red-light district after Geylang & Balestier ... including issuance of new licences to the sleaze operators & prohibition of transit services in all the budget hotels there.

2) Opera Estate ... prices are low becoz it is the most inconvenient part of Siglap, not to mention that hilly terrain your cars or your "kahs" (脚) have to overcome just to come out of the valley ... specifically, I'm talking about the terraces along Figaro & Fidelio Streets.

:biggrin: :biggrin:

 

[CDL]

Appreciate comments ... getting back to the objective - still looking for a 1 or 2 storey terrace house. No worries about the Option to Purchase - seasoned buyers usually have their lawyers go through the Option before it is granted anyway.