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Hi anyone knows what's the fair psf for Balmoral Green (~5yrs old, freehold, full condo facilities & nice landscaping & by Capitaland) ? Viewed 2 units recently that are asking for at least $1250psf which I think is too expensive. If anyone can share with me any recent bank valuation done on this property will be greatly appreciated.
I think you are referring to Belmond Green, which is on Balmoral Road.Quote:
Originally Posted by sltc
Yes, you're correct. It's along Balmoral Road opposite Garden hotel. There are not many transactions for this condo. Some owners are asking for $1400psf and the lowest is $1250psf. Wonder what's a fair value for this property. Also anyone has any feedback (good or bad) regarding this condo will be helpful.Quote:
Originally Posted by ahlahdin
suggest you remove this thread so not to confuse others.....better start new thread "Belmond Green"Quote:
Originally Posted by sltc
been there once..great landscape and view for units facing the pool and club house. good layout
set back - run down car park - issue on workmanship. materials are not that of high quality.
Recent transacted at $992psf. Personally feel $1250psf abit on the high side.Quote:
Originally Posted by sltc
viewed one that was facing the new project....blocked by the trees.. didnt interest me.Quote:
Originally Posted by fooll8
How much is the indicative psf? Thx.Quote:
Originally Posted by dmonddd
above 1200psf at "sie" floor.....can forget tis unit because of no..Quote:
Originally Posted by fooll8
Thx. I saw one advertisement on nationsingapore.com, 970sqf asking for 1258psf. Agent said viewing only possible when buyer bring 1% cheque. Sound v arrogant.Quote:
Originally Posted by dmonddd
I saw this two months ago - two bedroom at sie floor with living room facing the vacant land "new project". Agent then tried to avoid answering the topic of new project as there are a row of trees blocking the view.Quote:
Originally Posted by fooll8
not sure if this is the same unit...but those facing the pool are nice.
I didnt go and view the unit advertised 'cause I didnt want to bring my check book along. Never believe in giving out check without going tru my lawyer. :)Quote:
Originally Posted by dmonddd
I am probably not as seasoned as you in terms of property and your comment made me sit up.Quote:
Originally Posted by fooll8
Please could you advise which aspect of legal advice, due diligence or such other relevant considerations which would potentially be a deal breaker/show stopper which you would expect your counsel to be able to advise you to the extent you should only be giving out your cheque through your lawyer at least have prior consultation on the same?
I'm also not a seasoned seller/buyer. Like u, I'm learning from others as well. Just to share.. I wanted to buy a unit at Valley Park 15years ago.. my first attempt to buy a private ppty. The price quoted for the unit then was really attractive compared to others. The only catch was the seller wanted us to pay 20% deposit outfront. I wasn't comfortable with the arrangement then and seek my lawyer advice. He advised me not to proceed with the deal no matter how cheap the ppty may be. Once $$ is out it's hard to get it back if the deal fail to go tru due to whatever reason. Since then, I always engage my lawyer to handle any payment including vetting tru the option doc. He will do the due diligency. Not sure others are doing the same. I guess I'm more kiasu.Quote:
Originally Posted by DW
agree that lawyer should be involved....seller may hv been made bankrupt. How on earth are you gonna get your money back? unless agent is the custodian...buyer is worried as well.Quote:
Originally Posted by fooll8
No doubt about decision to buy lies with the buyer. let's be careful than sorry esp. in this environment of hard times.
Any one got the latest property report by Merrill Lynch to share? Thx.
I see. On this basis, what kind of due diligence or work one would ordinarily expect the lawyer to do or evidence to you, so that you can derive sufficient comfort in making an offer with a cheque in this context?Quote:
Originally Posted by dmonddd
a friend had a bad experience, last 3 months. agents (not sure whether you are one) supposed to do due diligence on seller. condo in orchard with tenant. my friend got his lawyer involved and wouldnot mind paying his lawyers rather than risk losing his 1% - what they say penny wise pound foolish.Quote:
Originally Posted by DW
His lawyer redrafted the standard OTPs that are normally given out as brochures. Owner signed OTP and later told agent that he lost the original tenancy agreement & cldnt deliver as per OTP, only photocopy can be found....wtf..in good times, everyone says ok we trust everyone..but in hard times, where's the document
if friend accepts, friend runs the risk of tenant claiming that clauses in tenancy agreement have been modified. Depends whether you know tenant well....only owner can tell as he's collecting rent -timely, damages always with repair works blah blah blah
getting lawyer on board early- also for them to do a check on the seller -bankrupt? property mortgaged to which bank......danger if owner is foreigner and property is mortgaged to another bank overseas. if problem in owner's country - e.g. he is a bankrupt in Malaysia and property mortgaged to a Malaysian bank, he cant legally enter into a contract with buyer....die...
so better to be safe than sorry unless you have alot of cash for 1% option fee
i'm not a lawyer...just sharing experiences.
heard of cases where fake landlord runs away with $$$$
normally conman/owner is cautious when you say that lawyer is onboard. and will if possible not deal at all giving a lot of excuses.
but there also genuine owner who will also engage lawyer to defend his interest. such owner is the one that you may want to deal with
agents are the ones who discouraged OTP changes otherwise deal will disappear....agree but not now, in this challenging market.