huge price hike by FEO

[samuelk]

I read in ST today on a kpkb of a 2.27mil prop raise to 2.7 and someone ended up as MTB.

anyone here knows the story ?:scared-4:

[buttercarp]

I read in ST today on a kpkb of a 2.27mil prop raise to 2.7 and someone ended up as MTB.

anyone here knows the story ?:scared-4:

It was already discussed in this thread about a week ago.

http://forums.condosingapore.com/showthread.php?t=15248

[samuelk]

It was already discussed in this thread about a week ago.

http://forums.condosingapore.com/showthread.php?t=15248
oops. My bad. Admn pls close the thread.

[Laguna]

oops. My bad. Admn pls close the thread.

just come to this forum more frequent

[bargain hunter]

i was busy also, missed the story haha.

but raising the price 19.5% intra day seems a bit too much? even stocks also don't go up so much between 11am to 4.30pm hahaha.

that means the developer see pple interested liao then adjust up?

below was their reply on 18th oct.

"Property price change: Developer replies


MR DANIE Lim first viewed our property at 11am on Wednesday, Sept 26, with his property agent, who is not a member of our staff ("Regulate developers too"; last Saturday).

His agent was our only point of contact with Mr Lim throughout the process.

Our staff quoted the agent a price based on the prevailing price list. No offer was made for the unit in question during the viewing.

Separately, our sales team was notified at about 4.30pm that afternoon of adjustments to the prices of several projects with immediate effect.

One of these projects was the development which Mr Lim had viewed.

Our staff member then contacted Mr Lim's agent to inform him that the price of the unit viewed by Mr Lim had been adjusted upwards.

He also informed the agent that if an offer was forthcoming, it would be put up to the director-in-charge for consideration, with no assurance that approval would be given.

Subsequently, when the agent informed our staff of Mr Lim's intent to make an offer at the old price, an appointment was made with the agent to take Mr Lim to our sales office to discuss the offer.

There was no indication from our staff to the agent that Mr Lim's intended offer at the old price was accepted.

As a reflection of market conditions, price adjustments are made from time to time.

But at all times, our staff are instructed to be careful in communicating any offer that is a variation from approved price lists.

We value all our customers and are arranging to meet Mr Lim to better understand what his agent communicated to him.

Oh Thay Lee
Group General Manager
Far East Organization"

[Laguna]

i was busy also, missed the story haha.

but raising the price 19.5% intra day seems a bit too much? even stocks also don't go up so much between 11am to 4.30pm hahaha.

that means the developer see pple interested liao then adjust up?

From what I understand FEO and all other developers, none of them adjust their prices at this speed.

There must be something went wrong somewhere and FEO does not wish to clarify further.

[Kelonguni]

From what I understand FEO and all other developers, none of them adjust their prices at this speed.

There must be something went wrong somewhere and FEO does not wish to clarify further.

Maybe got offer come in at higher price? Or print error?

[Rysk]

Willing buyer.. Willing seller.
Likewise, there were many cases whereby buyer had made an offer and accepted by the seller.. at the very last minute meetup to sign the OTP, the buyer just backout and simply say need to reconsider. :banghead:

[Localite]

Which development is this who thread refering to?

[carbuncle]

I read in ST today on a kpkb of a 2.27mil prop raise to 2.7 and someone ended up as MTB.

anyone here knows the story ?:scared-4:

Simi si MTB?

MurTaBak
MounTain Bike
Most Talkedabout Bachelor?

[buttercarp]

Simi si MTB?

MurTaBak
MounTain Bike
Most Talkedabout Bachelor?

MTB = missed the boat
Can also mean MisTer B

[carbuncle]

MTB = missed the boat
Can also mean MisTer B

Ohhhhhhhh.......... Who coined that term btw