2+1 Unit Fire sale at 600k!!! Good buy?

[xtreme_46]

http://www.propertyguru.com.sg/listi...ing-fong-court

What you think about this unit? Good buy?

Rental is not bad at least can fetch 3k

[Astronotus oscellatus]

http://www.propertyguru.com.sg/listi...ing-fong-court

What you think about this unit? Good buy?

Rental is not bad at least can fetch 3k

Rent out to PRC chickens?

[xtreme_46]

actually seen a few ang moh expat renting in nearby wing fong mansion before

[relax88]

Quick, quick go buy then have house warning for members here

[catsick]

looks like a very good buy ? Certainly a lot better bet than a mickey mouse shoe box way out of town

[pod]

before u buy...

remember to knock on neighbours doors to chit chat.... u never know maybe something happen itside the unit before?

[kellogs]

wow the living room layout is madness

maybe buy for enbloc purpose

[xebay11]

Odd shaped living room, sleazy neighbourhood, you get what you pay for. Not a good buy.

[Ringo33]

actually seen a few ang moh expat renting in nearby wing fong mansion before

There are many types of Ang moh and not all are rich and civilised.

[radha08]

val 820k sell 600k..i smell a rat

[Cupcakes]

it says "guide price"

[xebay11]

val 820k sell 600k..i smell a rat

Even at $600k it is a rip-off, you are much better using $600k to get a well renovated HDB and live much much better than that sh*t looking place.

[Rosy]

http://www.propertyguru.com.sg/listi...ing-fong-court

What you think about this unit? Good buy?

Rental is not bad at least can fetch 3k

Are u sure rental at least 3k? I will not pay more than 2k for such location and condition. This is an apt without any facilities.

3k maybe possible if u rent out to 6-8 workers.

[star]

Guide price is not the actual price. Actual price should be higher. By the way u will unable to get bank loan if it is in lorong 14.

[xtreme_46]

Are u sure rental at least 3k? I will not pay more than 2k for such location and condition. This is an apt without any facilities.

3k maybe possible if u rent out to 6-8 workers.

must throw in some renovations...anyway past rental transaction is around 2.9-3.3k

[Singleton]

Cheap doesn't always means good.
You need to be familar with the area to determine if it is a good buy.
It is a loft so the livable space is 400sfeet?

[princess_morbucks]

Even at $600k it is a rip-off, you are much better using $600k to get a well renovated HDB and live much much better than that sh*t looking place.

I think TS is looking at it as an investment property.

First look, yucks!
But on second thoughts, one should not be emotional when it comes to investment property.

May be able to rent out to workers or mature students?
But more tenants may result in more problems.

[RCT]

Guide price is not the actual price. Actual price should be higher. By the way u will unable to get bank loan if it is in lorong 14.

So you think how much will be the actual price is they place the guide price to be $600k? This is like -$220k COV..

[Allthepies]

if it looks too good to be true, then ...

anyway good deal (-220K COV) won't appear in propertyguru one lah, will be snapped up before it reaches mass market advertisment

[eng81157]

i had a similar conversation with my bro-in-law, who's a property agent, last weekend.

i purported the hypothesis that there is NO true fire sale being advertised simply because,

1. if the deal is soooooo good, it would have been snapped up by the agents themselves
2. if the agents can't makan themselves, they would market it immediately to loved ones or close friends - i.e. fertile water don't flow into outsider's field (a chinese idiom)

and, he concurred with the above

[Ringo33]

i had a similar conversation with my bro-in-law, who's a property agent, last weekend.

i purported the hypothesis that there is NO true fire sale being advertised simply because,

1. if the deal is soooooo good, it would have been snapped up by the agents themselves
2. if the agents can't makan themselves, they would market it immediately to loved ones or close friends - i.e. fertile water don't flow into outsider's field (a chinese idiom)

and, he concurred with the above

Let me tell you what is true.

Most property agents are all in deep shit at the moment as majority of agent incomes comes from sales commission. And with TDSR, its going to be very difficult for them to commit into property.

For those who have money to buy, they will only buy prime unit as this segment of the market will offer best discount and best returns when market picks up.

No fire sale? You need to look harder and deeper.

[jwong71]

it's a true sale, unit number I already got it for valuation with Uob at 760k.

check it on behalf for a colleague.

owner need cash.

previously rented out at 5k, 2 rooms, 1 parition room and 2 attic also as rooms.

[Singleton]

it's a true sale, unit number I already got it for valuation with Uob at 760k.

check it on behalf for a colleague.

owner need cash.

previously rented out at 5k, 2 rooms, 1 parition room and 2 attic also as rooms.

If valuation at 760K why need to advert at 600K even if it is fire sale.

Could have put up at 700k and let buyer negotiate downwards

[jwong71]

If valuation at 760K why need to advert at 600K even if it is fire sale.

Could have put up at 700k and let buyer negotiate downwards

I have seen transactions of lower than neighbor asking price.

because the seller bgt at much lower price than his neighbor. so he making the same amount of profits like neighbor, even if he sold 100k below.

this owner need cash, that's all. maybe he don't want waste time

[jwong71]

val 820k sell 600k..i smell a rat

it's common to have cheap sale.

sea strand 1229sqft at 1.03 million. (not on pty-guru.com)
something like the owner can't service the loans etc...

offered to me from my childhood agent.

don't smell a rat

[jwong71]

before u buy...

remember to knock on neighbours doors to chit chat.... u never know maybe something happen itside the unit before?

if u are referring to murder or pple died.

probably news hit headline of geylang unnatural death, moreover owner still staying inside. not vacant yet

[xebay11]

Let me tell you what is true.

Most property agents are all in deep shit at the moment as majority of agent incomes comes from sales commission. And with TDSR, its going to be very difficult for them to commit into property.

For those who have money to buy, they will only buy prime unit as this segment of the market will offer best discount and best returns when market picks up.

No fire sale? You need to look harder and deeper.

Don't argue for the sake of arguing, it is true, first cut goes to agents themselves, then friends and relatives, and finally good business relations.

[inflora b]

no disrespect but which part of this unit looks like a condo ? barring a major overhaul with notable renovations, what kind of resale value can this unit fetch in future ?

facilities : car park and security only ?

[jwong71]

no disrespect but which part of this unit looks like a condo ? barring a major overhaul with notable renovations, what kind of resale value can this unit fetch in future ?

facilities : car park and security only ?

freehold, near town, rental with amenities are the only worth to look at it.

otherwise .....

[xtreme_46]

it's a true sale, unit number I already got it for valuation with Uob at 760k.

check it on behalf for a colleague.

owner need cash.

previously rented out at 5k, 2 rooms, 1 parition room and 2 attic also as rooms.

wah u really go ask? anyway the advert already state seller seriously looking to sell and if I not wrong..this unit has been sitting in property guru at 800k for about 1 yr plus