Offer Price To Seller

[DKSG]

Absolutely right!
Some will be out of the game if they feel insecurity in their job prospect or without strong financial backing. Buying PC becomes a long term timeframe projection and consideration.
For the next few months, we will be in a game: tug of war.
Buyers don't want to buy and seller don't want to sell. Resale stagnant.
See who buay dong then one party gotta give in.
New launch continue to see healthy sign as long as its at affordable quantum and near amenities. Buyers will continue to buy thru proxy to avoid absd.
Developer not inclined to reduce price, but will be cautious in their bidding.
I also hope there's a slight correction, hope to get a 2 bedder with some price correction.

U willing to pay 10% stamp duty?
I am trying to assess how many will be willing to pay .. If u willing, I think there will be many willing too!

DKSG

[alamak]

I have a friend, self proclaimed expert in property who gave me the same advice in 2005. "Why rush in to buy? Now plenty of vacant units, should wait for price correction"
In the end, he wait and wait and wait, till he buay tahan, took his first plunge in 2011 to buy his 1.4mil property, which he could hv paid half if he bought in 2005.
The point is, buy when you are financial ready and comfortable, patience doesn't always win the race.

You are absolutely right about this point. I bought in 2006 .. just before election time ..just before they announce both Casino site winners .. yeah just 10% down payments then .. FH .. City-fringe .. Yeah .. absolutely at today half-price .. It's was about the only good thing that's was in my favour in the last decade after being victim of the gahment senseless FT policy..

Fate n destiny you might want say ...

[Xan]

You are absolutely right about this point. I bought in 2006 .. just before election time ..just before they announce both Casino site winners .. yeah just 10% down payments then .. FH .. City-fringe .. Yeah .. absolutely at today half-price .. It's was about the only good thing that's was in my favour in the last decade after being victim of the gahment senseless FT policy..

Fate n destiny you might want say ...

Hehe congrats anyway.
Well, in 2005-2006, u really need the guts and balls to buy as there are many vacant units even after TOP and also, the interest rate was between 3.5 to 4.2%. Pay interest more than pay principal.

Without taking that early plunge, I'm sure it's getting harder to leverage on the profit you hv made to invest in more properties.

[Xan]

U willing to pay 10% stamp duty?
I am trying to assess how many will be willing to pay .. If u willing, I think there will be many willing too!

DKSG

I be honest, not willing to pay, but will find a way.
The fact this forum is still active (despite so many CMs) because at the back of everyone's mind, property investment is still one of the most lucrative way to generate wealth. It's just that the gateway is getting smaller and the timeline for profit realization takes longer.
Be it for those who are still waiting outside the fence or those who are already in the game, if got chance and if time is right, they will scavenge. 6.9 mil is a boost I wld say.
I am no expert, I buy what I can afford. I won't park too much money in the bank. 6 years ago, my uncle had a saving of 500k in the fix D after deciding not to buy the quartz. 6 years later, still same amount in his fix D. 500K enough for him to have a comfortable retirement? Hehe, I shall reserve my comments.

[alamak]

Hehe congrats anyway.
Well, in 2005-2006, u really need the guts and balls to buy as there are many vacant units even after TOP and also, the interest rate was between 3.5 to 4.2%. Pay interest more than pay principal.

Without taking that early plunge, I'm sure it's getting harder to leverage on the profit you hv made to invest in more properties.

Nope, I am currently staying put in locATION..not selling as it is too convenience for me n my kids. near mrt and near down town.

[wind30]

Think most of the borderline investors / desperate sellers have already been weeded out sometime around the CM4 or CM5 period.... The players remaining after that have the ability to hold long long, even without good rental yield for many of them, and some without even any rental income at all.

That is why we are seeing an even tighter supply of resale condos now.

The Govt played it wrong - most of the investors holding residential properties now have taken their properties off the market. They are NOT going to sell anytime soon, and definitely not at fire sale prices, as any replacement property(s) will cost them substantially more in taxes (stamp duties).

This is the unintended effect of the latest CM.

sigh... this is one of the most flawed arguments. It is not about holding power. As I said, if the price is rising, no money also borrow to buy. If the price is falling, got money also sell. Simple logic.

[Xan]

Nope, I am currently staying put in locATION..not selling as it is too convenience for me n my kids. near mrt and near down town.

Good for you anyway, if u wait until now then buy, your loan amount would be doubled.

[Xan]

sigh... this is one of the most flawed arguments. It is not about holding power. As I said, if the price is rising, no money also borrow to buy. If the price is falling, got money also sell. Simple logic.

Beg to differ on the second part of your statement. If the price is falling and if I got money, who on the right mind would sell? Would only sell if I'm in some financial difficulty.

[VS]

Beg to differ on the second part of your statement. If the price is falling and if I got money, who on the right mind would sell? Would only sell if I'm in some financial difficulty.

Some ppl may sell when price is falling, hoping to buy back or another unit when the price reaches the bottom.

[sunny88]

Some ppl may sell when price is falling, hoping to buy back or another unit when the price reaches the bottom.

Some may be afraid of the price dropping further, so may sell to "take profit".

On the contrary, in bullish market when prices are rising, people will fight to buy cos afraid of prices going further up, thereby causing prices to run further upl.

[TravieJackie]

I am feeling like this now. The only way forward is to be rational and buy within my means with allowance for price dip.

Any increment is bonus then. If not, it'll just be a love nest with bf and myself.

[TravieJackie]

So, asking for about 15% below is alright right? I just dn't ant the seller to think I'm not serious about it.

[silver023]

Generally, the price to offer will be pretty close to last caveat lodged for the same development. Offering too low may sometimes piss owner off, but hey, you won't know until you try. Nothing to lose.... If not accepted, then reconsider your offer or move on.

[eng81157]

So, asking for about 15% below is alright right? I just dn't ant the seller to think I'm not serious about it.

put yourself in the seller's shoes. why would he/she sell it at 15% below market value? would you do it?

when i got lowballers for my previous unit, i asked the agents point blank - "why should i sell it to you at a discount?"

[TravieJackie]

I also agree that from the seller's point, he wouldn't sell.

So.. I'll just wait for another unit to come along coz this is too expensive IMO for me.

[spikey69]

Generally, the price to offer will be pretty close to last caveat lodged for the same development. Offering too low may sometimes piss owner off, but hey, you won't know until you try. Nothing to lose.... If not accepted, then reconsider your offer or move on.

Fully agree....15% is way too much of a lowball offer unless the owner was asking for the sky in the first place.

[TravieJackie]

10% considered low?

[Cyberknight]

10% considered low?

Unless sellers urgent in need of $$$.