Seeking advice: make offer and sell old place or wait

[hovivi]

I jus viewed a landed unit on fri. Agent claimed deadline tomorrow as he got offer with cheque and owner will decide by tomorrow.

Price seems ok but I haven't sell my current place. My concern is I commit to the new house at current high price and I need to quickly sell my current place to pay for the new house. With the cooling measure last week, it may be difficult to sell my place now or sell under distressed as prospective buyers will factor in cooling measure and offer low price.

If I commit to a new place without selling the old one, I will be roasted or becoming one of those desperate sellers..

Would like to seek the view of experienced ppty players here for advice.. Thanks in advance.

[marc2050]

Sell current first before buying new.
Unless you're very confident to sell your place in 1 week's time or
you believe you've the lucky star or
you got enough cash to cover all the advance payments.

[jwong71]

Most of the time the agents told me alrdy got last offer or tonite 2nd viewing. Pressure me into offering..
But I still see the units available. If agents word can believe, pigs really climb trees then

[devilplate]

I jus viewed a landed unit on fri. Agent claimed deadline tomorrow as he got offer with cheque and owner will decide by tomorrow.

Price seems ok but I haven't sell my current place. My concern is I commit to the new house at current high price and I need to quickly sell my current place to pay for the new house. With the cooling measure last week, it may be difficult to sell my place now or sell under distressed as prospective buyers will factor in cooling measure and offer low price.

If I commit to a new place without selling the old one, I will be roasted or becoming one of those desperate sellers..

Would like to seek the view of experienced ppty players here for advice.. Thanks in advance.

no hurry bro....y not discuss wif ur banker on equity loan....dun sell to buy another one now....not worth it....new purchase comes with 4yrs MOP...lol

[zzz1]

I jus viewed a landed unit on fri. Agent claimed deadline tomorrow as he got offer with cheque and owner will decide by tomorrow.

Price seems ok but I haven't sell my current place. My concern is I commit to the new house at current high price and I need to quickly sell my current place to pay for the new house. With the cooling measure last week, it may be difficult to sell my place now or sell under distressed as prospective buyers will factor in cooling measure and offer low price.

If I commit to a new place without selling the old one, I will be roasted or becoming one of those desperate sellers..

Would like to seek the view of experienced ppty players here for advice.. Thanks in advance.

typical pressure tick...
current market is still waiting for the dust to settle and advised not to catch the falling knife...

not too sure of your selling ? change of location for school? cash out ?
current time, you may need to consider sell then buy...if don have extra 'holding hse' u need to consider short term rental ...cos buying a 'ideal; hse also take time..

[cheongster]

Can't agree more..
Totally disgusted with such business practice.
CEA should find ways to punish such agents if they are found to be lying.
Its call falsification of information aka LIAR.

Most of the time the agents told me alrdy got last offer or tonite 2nd viewing. Pressure me into offering..
But I still see the units available. If agents word can believe, pigs really climb trees then

[sh]

be patient. your situation is the worst if you buy the unit.

You are buying your unit at pre-measure prices.

You have to sell your unit at post-measure prices.

Not very clever.

Unless you really, really love that unit so much that there is no other alternative, then go for it, even if it is at a premium.

[hovivi]

Sell current first before buying new.
Unless you're very confident to sell your place in 1 week's time or
you believe you've the lucky star or
you got enough cash to cover all the advance payments.

Thanks.... I feel it's high risk too.. So soon after cooling measure, difficult.. Perhaps I can sign the option, and try to sell before I exercise the option.. If I can't sell I forgo the 1pct..

[hovivi]

be patient. your situation is the worst if you buy the unit.

You are buying your unit at pre-measure prices.

You have to sell your unit at post-measure prices.

Not very clever.

Unless you really, really love that unit so much that there is no other alternative, then go for it, even if it is at a premium.

Whole family love it except me and wife more measured... Agree with you. Someone i feel like i am a carrothead if i buy now.. Thks.

[cashrich]

Please share landed type, size and price. Your current size, type and last transacted plus your asking.

[Rysk]

Best is to sell first then buy unless you are rich without any problem to hold 2 or more pty.
Even up to the extend to stay hotel for 1-mth before move to your new place, at least you can sleep peacefully regardless whether is Hotel 81 or St. Regis Hotel

[land118]

Suggest u be patient as what others have advise u. In this times, with cooling measures, hard to believe that there is a cheque waiting for owner to cash in, unless price is bargain- which is unlikely as from the classified ads I see during these 2 days, most are still asking for same prices as last wkend but maybe owners more likely to negotiate down tis time. If u buy now, likely given what u describe, u will be stressed to offload your current. Better to sell 1st and then commit to buy. If really no luck and cheque is true, and u miss out on tis property, so be it. Am sure, another property will come along soon which maybe to your liking and maybe lower psf.

[hovivi]

Thanks for all the advice. Agent just called, unit sold.

[devilplate]

Thanks for all the advice. Agent just called, unit sold.

Looks like landed unaffeted... Peot villas damn packed but others packed wif agts.... Haha

[kingkong1984]

Thanks for all the advice. Agent just called, unit sold.

remember SSD only kicks in when you have to sell. Buying a landed is for long term commitment, if have to sell, sell after 4 years then. No big deal if it is for self stay, FH means forever right? (kidding).

Again, would you buy and risk not able to sell your unit? Do it the safest way, sell first and look. It used to be ok to buy and then sell later when the prices are going up. But this time, its clearly going down.

[jwong71]

Thanks for all the advice. Agent just called, unit sold.

who knows, agent might call u to inform that cheque bounce or buyer run road. its back available again.


if i listen to agent's word long time ago,etc buy flamingo valley in 2010.
i think i run road liao

[hovivi]

At the end of the day the risk is too huge for me to take for a unit that I'm not 80pct happy.. Good advices fm folks here, I will either sell first or otherwise rebuild my puny terrace..

[devilplate]

At the end of the day the risk is too huge for me to take for a unit that I'm not 80pct happy.. Good advices fm folks here, I will either sell first or otherwise rebuild my puny terrace..

isit almost fully paid? pls look at equity loan b4 u sell ok? mabe u can own 2ppty at the same time.....explore more options lor

although i dun own any landed(potential sore loser here), i believe landed is priceless....try not to sell

[u2torneil]

How much is Poets Villa asking for now?

Looks like landed unaffeted... Peot villas damn packed but others packed wif agts.... Haha

[devilplate]

How much is Poets Villa asking for now?

ard 640-670psf..i m conservative type....rather buy 999 or FH cluster housing or true landed...i wonder y these days singka dun mind 99LH clustered housing and their prices arent any much cheaper

i realise clustered housing r going towards MM too....footprint about 7xx-8xxsqft nia

[hans]

Thanks for all the advice. Agent just called, unit sold.

This tells us, cos of the new cooling measure, sellers with offers will sell.

[u2torneil]

Wow, not cheap at all post-cooling measures. For an average 3400-3500 sqft unit, still about $2.1-2.3M for a 99LH landed property. Not to forget that maintenance fees each month would be about $500-1000 at least.

ard 640-670psf..i m conservative type....rather buy 999 or FH cluster housing or true landed...i wonder y these days singka dun mind 99LH clustered housing and their prices arent any much cheaper

i realise clustered housing r going towards MM too....footprint about 7xx-8xxsqft nia

[hans]

At the end of the day the risk is too huge for me to take for a unit that I'm not 80pct happy.. Good advices fm folks here, I will either sell first or otherwise rebuild my puny terrace..

At this point of time, your down payment is 40% for 2nd property. have u taken that into consideration.

[hans]

who knows, agent might call u to inform that cheque bounce or buyer run road. its back available again.


if i listen to agent's word long time ago,etc buy flamingo valley in 2010.
i think i run road liao

all lot us forgot the last cooling measure in aug, landed property prices surged even higher after the cooling measures,

[rattydrama]

isit almost fully paid? pls look at equity loan b4 u sell ok? mabe u can own 2ppty at the same time.....explore more options lor

although i dun own any landed(potential sore loser here), i believe landed is priceless....try not to sell

I assume referring to FH landed and not LH landed right? I bio sembawang FH landed before 1.3m few years back, wanted to but my friend sold at break-even price so kind of affected me. -- so never buy..... guess price has leaped.

[devilplate]

I assume referring to FH landed and not LH landed right?

y asking the obvious?

[devilplate]

Wow, not cheap at all post-cooling measures. For an average 3400-3500 sqft unit, still about $2.1-2.3M for a 99LH landed property. Not to forget that maintenance fees each month would be about $500-1000 at least.

quoted $350 pm

[devilplate]

I assume referring to FH landed and not LH landed right? I bio sembawang FH landed before 1.3m few years back, wanted to but my friend sold at break-even price so kind of affected me. -- so never buy..... guess price has leaped.

if i m not wrong, semb landed only leaped not long ago nia....so actually gd thing u din buy few yrs bck...aiya...buy any landed last yr b4 Oct aso huat....now can only be sour grapes...

[hovivi]

isit almost fully paid? pls look at equity loan b4 u sell ok? mabe u can own 2ppty at the same time.....explore more options lor

although i dun own any landed(potential sore loser here), i believe landed is priceless....try not to sell

Existing unit is with equity loan.. Can fully pay.. But to use that to buy 2 is risky for me... Beyond my means to maintain total of 2m loan lor...

Actually outside the central area, landed didn't appreciate More than condo.. At least for d16.. It was a laggard until around mid of last year.. I know cos I sold A condo to move to landed 5 years back and have been tracking price movements..

[bullman]

There are still good buy FH landed available in the market now.

I am only familiar with D15 landed and you can still find $800 psf for land, FH inter terrace. The land size ranges from 1600 to 2000 sqft so quantum is around 1.3 to 1.6 mil.

They are still good buys IMO and it shows that not all landed has caught the wave yet. These houses are normally in original condition and you will need to do A&A , recon or rebuild , depending on what you want to do with the place.