Feb 1 2024, 05:12 PM
QUOTE(ShonYap @ Jan 28 2024, 02:35 AM)
BRICKS transacted price many units sold 370-380k
Iproperty adverts many units advertised below 260k.
Something is very wrong. seems like there is a big group of manipulators in the market. markup to 370 and 380k consistently.
trying to affect the valuation.
Simple only
The property agent manage to find a bank whose valuer able to give high value of this property (mostly small valuer firm)
So they nego with owner to markup higher so the buyer can cash out extra money above purchase price
For example:
Real price RM250k
Markup price RM370k
Loan 90% - RM333k
Extra RM83k (10% need pay agent for consultation fee)
You help me, I help u
*If buyer din pay and kena lelong and management of the bank found out the property should only value at RM250k, valuer most likely will be blacklisted and the bank officer also in trouble
No risk to agent
Want better example? Check Scott garden at bricks
60-70 units transacted at RM650k while actual value only RM300k+
All buyer apply same bank
This post has been edited by Asgaard: Feb 1 2024, 05:16 PM
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