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All the property websites seem to be catered only for people/agent wanting to sell properties. I am wondering if there are any websites which shows what price buyers are willing to pay for certain properties?
E.g. if there is a certain property I want to buy, but will buy only if it falls below my target price. How is it possible to let those people willing to sell at that price locate me easily other than me searching and calling up all those sellers/agents trying to sell that property?
very difficult unless you are buying on cash basis. if you are dependent on bank financing, valuation of the property is important.Quote:
Originally Posted by tjendra
agents are supposed to bring both parties, seller and buyer to a mutually agreed price........but price keeps going higher and higher as demand pushes up price.
What is it easier if you are buying on a cash basis? Can you please elaborate? Thanks.Quote:
Originally Posted by dmonddd
Right now, the supply is supposed to be greater than demand isn't it? So shouldn't price go lower and lower until deals gets transacted? In that case, wouldn't a website which gauge buyers demand rather than seller demand be more useful in the current climate?
You mean, a Properties Wanted kind of website rather than the Properties for Sale kind?Quote:
Originally Posted by tjendra
Do you go to the shopping mall to buy your underwear or do you go to Speaker's Corner at Hong Lim and scream out of your loudspeaker "I want some underwear! At $1 per piece! If you have, sell me!"
Are u sure supply > demand for every project? If you want to buy Alexis, just login to your so-called buyer website, declare that you want to buy at 400psf. To your surprise, nobody comes to you and suddenly next day newspaper declares that Alexis sold out at 880psf :banghead:Quote:
Originally Posted by tjendra
It is a novel idea not tested yet... could be first mover advantage if it is rolled out. It is basically a system for the buyers to express their desire to buy... the sellers/agents would look at the list and contact them if their price is right... it could possibly work if the buyers declare truthfully and is able to transact at the declared price or above.Quote:
Originally Posted by jitkiat
Maybe someone could start one... call property bazaar... property market place or property trade... just a thought :)
It is basically the same concept used in Stock Trading... market depth where you can see the buy in and sell out que at different price intervals. A trade is made when the price is matched. Agents would still have a job of matching sellers to buyers.
Simple - if you r buying on cash basis, less parties involved - valuers and bankers.Quote:
Originally Posted by tjendra
URA historical prices are the closest. but cant differentiate between levels, directions, renovations, tenanted, desperate sellers who need to pay once TOP.......etc
supply > demand, or vice versa depends on which property type.....e.g. A (>$1500psf), B ($700psf-1499psf), C (< $700psf).
great idea but the problem is property is not like stocks wherein there's a legal exchange wherein those who lock in a quote to buy will be hauled up to court by securities firm if failed to pay........ok for paper trading and commodities wherein there's no product differentiation - homogeneous product. bigger amount involved for property - am referring to mass market.Quote:
Originally Posted by Condorich
They already have something like that. It is called property auction. Perhaps someone could start a eBay for singapore properties. "buy it now!"
How come buying in cash will result in lower price?? To the seller, what you do with bank financing and valuers have nothing to do with him. The seller have done his own valuation with his own valuers and say X is the price to pay.Quote:
Originally Posted by dmonddd
So 2 buyers come and both offered the $x - $50k off, the seller will just choose the one who can signed the option to purchase on the spot and give cheque. (Both could easily afford the downpayment).
Anyway, a lot of people who can pay down easily an apt still opt for financing.
Ur reasoning is really moot.
correct. cash basis - seller will get monies faster, less interest he pays if he has a loan, opportunity cost. if buyer cant get the value/financing, deal will break and seller will need to put up property for sale again.......1% option fee forfeited but if market slides downward, he sells property at lower price, and will go after the buyer who did not complete for causing him the pain.Quote:
Originally Posted by focus
yes it should be that simple on two people offer and seller weighs and accept....try to go into the market and see how real life works.
Agents will pitch one buyer against the other, like auction, adrenalin pumping.....one up the offer, the other up again, and this continues. seller sits back and enjoys. agent trying to outwit each other, trying to make the dough at the expense of buyers
seller finally agree to XXX amount...final buyer goes to bank and valuer....bank said subject to valuation. Valuer said value XXX-X buyer comes out with more $$$$. Simple right?
one advice for all buyers out there.....this wont work if all prospect buyers like same unit.
do speak to one another.. if all prospect buyers viewing property the same time, walk away if you dont like it. This is also to show that the buyer who is very interested knows that not many competition.
problem why buyers get to offer higher and higher price. because they dont share info with one another. being divided and ruled.
i remembered once i viewed a unit in D11 with my wife. agent tried to pitch all buyers against one another.
i was last one in.....didnt like the unit. another couple who was much earlier was speaking to the agent and shown a lot of interest in the unit
i browse and wanted to walk out. agent was taken aback and asked why....and i said...................
since i'm not interested... and i show to other couple i'm not fighting with them for the unit. the couple looked relieved when i told the agent.