COV cannot be removed, MR KBW said

[Gitanic]

Is it stupid not to ask for COV?

[Mustank]

ai yah. be like me buy ec (the poor man condo) lor

 

now blossom ground floor going for 500 plus psf

[Silver_blade]

KBW may not be wrong about the COV. If you are the seller and 3 buyers wants to buy your unit at almost the same time. Are you going by a 1st com-1st serve basis or see who wants your flat more? I don't think MND can ban COV outright, but it is up to the market to decide how they want to go about their business. I have come across those who sold at valuation.....but they are very rare.

Edited August 11, 2011 by Silver_blade

[Mrmilktooth]

  On 8/11/2011 at 8:29 AM, Apvman said:

Its free market bro... U sell and Pple want to buy.. and if they match your valuation.. y cannot so hard to sell? U not selling to buyer for pretty faces or what... u just selling to buy another house or other purpose..what so difficult?

 

U very funny leh... Good for seller but not good for buyer.. wait till u are the buyer.. then u will understand y COV is so high nowadays...

 

 

but buyer if need the place urgently, then need to LLST and pay cov if they like the flat and location..

 

if not there should be other options to look at too..

 

worst will be rent loh..

[Mrmilktooth]

  On 8/11/2011 at 8:35 AM, Silver_blade said:

KBW may not be wrong about the COV. If you are the seller and 3 buyers wants to buy your unit at almost the same time. Are you going by a 1st com-1st serve basis or see who wants your flat more? I don't think MND can ban COV outright, but it is up to the market to decide how they want to go about their business. I have come across those who sold at valuation.....but they are very rare.

 

 

i believe hdb still got some empty flats available in the 'ulu' areas.. those should have no COV right?

 

or possibly already factored into the valuation price??

[Mustank]

that time donno which couple book which dbss then break up. dbss developer ask for 20% forfiet. donno whether other people can take over or not.

 

i think the original price was very much lower than nowadays the prices

[Forrestcat]

  On 8/11/2011 at 8:26 AM, Tarzan666 said:

Wat im saying is COV is used by seller to sell to who ever can afford.

 

If none wanna pay, seller can either lower COV or don't sell.

 

I find it hard to have w/o cov, its ultimately buyer choice, if not comfortable can walk away.

 

If no COV, how to choose which buyer to sell to? Provide sexual service to seller? Give gifts?

 

I have ever written to HDB over this COV thingy.

As usual, singles will lose out over this policy as they cannot buy direct from HDB.

Singaporean with foreign spouses also lose out.

Also, the grant for singles is 11k from HDB.

So let's say if the COV is 30k. He/She still have to pay 30k - 11k = Top up 19k

No offense this is purely my opinion.

[Apvman]

  On 8/11/2011 at 8:36 AM, Mrmilktooth said:

but buyer if need the place urgently, then need to LLST and pay cov if they like the flat and location..

 

if not there should be other options to look at too..

 

worst will be rent loh..

 

Provided u are rich and both you n your wife can afford the COV... If COV up to $100k CASH... u want buy? Then base price of HDB is another 600K... U want pay loan until 75 yrs old hahahhahaha?

 

If U and yor wife are just average joe... COV is now $50K... u kao pei or not? half or 1/3 of your savings just go to paying greedy sellers only... so like what i say..

 

Government want control can de.. Just put a fixed price COV to every HDB... then give priority to SGs only for HDB... for SPR, they can only go for EC and above... Should solve the supply n demand deadlocks now..

Edited August 11, 2011 by Apvman

[Mustank]

yalor. if we dont let pr buy. they can choose to buy pte or rent. this will take out a lot of demand. then cov will drop and sg buyers will be happy

 

but next time you wanna sell and there are pr who wants to buy at 100k cov, you cannot comprain why pr cannot buy arh

[Joseph22]

  On 8/11/2011 at 8:42 AM, Forrestcat said:

I have ever written to HDB over this COV thingy.

As usual, singles will lose out over this policy as they cannot buy direct from HDB.

Singaporean with foreign spouses also lose out.

Also, the grant for singles is 11k from HDB.

So let's say if the COV is 30k. He/She still have to pay 30k - 11k = Top up 19k

No offense this is purely my opinion.

 

 

you are wrong liao.

 

Grant cannot be use to pay off COV..

 

Single or marriaged, still pay 30K COV on top of the 5%(or was it 10%) cash on Valuation.

[Joseph22]

  On 8/11/2011 at 8:45 AM, Apvman said:

Provided u are rich and both you n your wife can afford the COV... If COV up to $100k CASH... u want buy? Then base price of HDB is another 600K... U want pay loan until 75 yrs old hahahhahaha?

 

If U and yor wife are just average joe... COV is now $50K... u kao pei or not? half or 1/3 of your savings just go to paying greedy sellers only... so like what i say..

 

Government want control can de.. Just put a fixed price COV to every HDB... then give priority to SGs only for HDB... for SPR, they can only go for EC and above... Should solve the supply n demand deadlocks now..

 

 

you heard about the era where HDB resale is all about under table money?? that is before COV come out.

[Mrmilktooth]

  On 8/11/2011 at 8:45 AM, Apvman said:

Provided u are rich and both you n your wife can afford the COV... If COV up to $100k CASH... u want buy? Then base price of HDB is another 600K... U want pay loan until 75 yrs old hahahhahaha?

 

If U and yor wife are just average joe... COV is now $50K... u kao pei or not? half or 1/3 of your savings just go to paying greedy sellers only... so like what i say..

 

Government want control can de.. Just put a fixed price COV to every HDB... then give priority to SGs only for HDB... for SPR, they can only go for EC and above... Should solve the supply n demand deadlocks now..

 

 

there is always a better time to buy.. if COV is out of reach, then look at other flats in cheaper areas.. we cant expect the gov to be giving handouts all the time right??

 

we can kp but that wouldnt save anything. at the end of the day.. its always seller price = buyer price then a sale can be transacted.

[Tarzan666]

  On 8/11/2011 at 8:29 AM, Apvman said:

Its free market bro... U sell and Pple want to buy.. and if they match your valuation.. y cannot so hard to sell? U not selling to buyer for pretty faces or what... u just selling to buy another house or other purpose..what so difficult?

 

U very funny leh... Good for seller but not good for buyer.. wait till u are the buyer.. then u will understand y COV is so high nowadays...

 

Alamak bro, i oso paid COV for my house la..that time worst..during en bloc madness in 2008 like dat..every seller think every buyer is a millionaire.

pocket suffer big time..

 

 

[Mustank]

don buy this area lor. like me buy lao pok area like woodlands or yishun lor nobody got infinite marnie. you have to decide location or size is piority lor.

 

the flat you were saying is 700k. i assume 130sqm. therefore psf is $500. you must as well buy blossom also around the same price and you get a brand new house instead of a resale 20/30 yr old flat

[Mdfaz]

Govt cannot ban cov.. It's willing seller and willing buyer mentality.. If willing to pay the cov, then whats there to stop? But govt can interfere in other areas like valuation of flats and barring PR from buying resale hdb flats.

[Mrmilktooth]

  On 8/11/2011 at 9:00 AM, Mdfaz said:

Govt cannot ban cov.. It's willing seller and willing buyer mentality.. If willing to pay the cov, then whats there to stop? But govt can interfere in other areas like valuation of flats and barring PR from buying resale hdb flats.

 

agree. its valuation that is key.. and its controlled by hdb ..

[Ben5266]

Those who reject COV, are those who want their new flat to be at good location, near good school, with panoramic view but the price must be the same as a unit which is facing the dump and takes 20 mins walk to the nearest MRT station.

[Yewheng]

  On 8/11/2011 at 8:20 AM, Mockngbrd said:

no COV = undertable liao

 

Ya that's what KBW said also.. Actually very true.. as if no COV than what is the selling point? People will go undertable $ lor..