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TSsoules83
post Jun 12 2019, 06:15 PM, updated 5 months ago

Hohoho I dunno
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Hi Guys,

I notice a lot of ppl prefer to buy new house from developer rather than 2nd hand market. Don't you think its a crisis for property investor?

The reason are:
1. Developer warranty is available for new house
2. Reduce renovation cost
3. Waived GST, lawyer fee and more
4. Affordable due to cash rebate for upfront fee

And the disadvantage of second hand house are:
1. High renovation and repair cost. Usually the seller and the agent won't let you know what problem the second hand house have.
2. High upfront fee
3. No Warranty, if the seller or agent cheated you. You are done once the deposit is paided
4. GST and lawyer fee incurred.

From what I see above, I cannot see its a good thing to invest in property.

What do you think? And how can we remedy the problem with second hand house?

This post has been edited by soules83: Jun 12 2019, 06:17 PM
propertybuddy
post Jun 12 2019, 06:24 PM

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This post has been edited by propertybuddy: Jun 12 2019, 06:25 PM
afoka
post Jun 12 2019, 06:33 PM

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Mainly cause..

1. Huge discount ( bumi discount, early bird discount, CSRU, etc)
2. NO 10% DP
3. Free legal and MOT
4. Those flipper and insider buyer can go die... Investor also
x132755
post Jun 12 2019, 07:13 PM

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Got money buy sub sale
Not willing to fork out too much then buy new
nike89
post Jun 12 2019, 07:19 PM

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for my case, i dont have ready cash for downpayment and lawyer fee for subsale.
DesRed
post Jun 12 2019, 10:03 PM

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QUOTE(soules83 @ Jun 12 2019, 06:15 PM)
What do you think? And how can we remedy the problem with second hand house?
*
We? Who's we?

Simple answer is: It's up to the buyers. Different people have different preferences and requirements.

Is the subsale property market this bad until calls for recovery is required? If you're referring to landed property (terrace, semi-D and bungalow), I don't see those those owners in a rush to sell them in the housing area I'm staying in. At most, the longest I've seen a house remain vacant is 3 months, and after that, someone did manage to buy it in the end.

If you're referring to those who bought to flip, well, too bad. Who asked them to give in to their greed?
aurora97
post Jun 12 2019, 10:07 PM

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QUOTE(x132755 @ Jun 12 2019, 07:13 PM)
Got money buy sub sale
Not willing to fork out too much then buy new
*
Got money sometimes also you cannot get a house especially if the bank's valuation is so shitty that you end up paying crap loads for the downpayment.

add:
buying new house. bank will give full valuation.

This post has been edited by aurora97: Jun 12 2019, 10:08 PM
amduser
post Jun 12 2019, 10:26 PM

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a RM 500k subsales need to prepare like RM70k cash, for those stamping fees, lawyer fees and downpayment, not an easy tasks for everyone

while new launch under HDA the progressive interest with 90% loan is around 25k to 30k+ spread over 3 years, downpayment for new launch is like few % of selling price, for RM500k property should be RM 12-5k, and rebate to buyer during VP
ManutdGiggs
post Jun 12 2019, 10:54 PM

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New props got gd got bad wan.

Isn't henge new??? Subsales is gd to some cos can see can touch. Noone say must pay the next min after viewing. Buyer can slowly hunt down best possible unit. Condition no gd no go. Facing no gd no go. Management no gd no go.

Subsales alwiz fund especially the process of searching.
New Klang
post Jun 12 2019, 11:19 PM

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QUOTE(amduser @ Jun 12 2019, 10:26 PM)
a RM 500k subsales need to prepare like RM70k cash, for those stamping fees, lawyer fees and downpayment, not an easy tasks for everyone

while new launch under HDA the progressive interest with 90% loan is around 25k to 30k+ spread over 3 years, downpayment for new launch is like few % of selling price, for RM500k property should be RM 12-5k, and rebate to buyer during VP
*
cannot compare 500k subsale vs 500k new launch.

Location wise, old vs new, near vs far.


icemanfx
post Jun 13 2019, 12:10 AM

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Most bought new launch because of low entry cost.
Bjorn1688
post Jun 13 2019, 01:34 AM

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QUOTE(soules83 @ Jun 12 2019, 06:15 PM)
Hi Guys,

I notice a lot of ppl prefer to buy new house from developer rather than 2nd hand market. Don't you think its a crisis for property investor?

The reason are:
1. Developer warranty is available for new house
2. Reduce renovation cost
3. Waived GST, lawyer fee and more
4. Affordable due to cash rebate for upfront fee

And the disadvantage of second hand house are:
1. High renovation and repair cost. Usually the seller and the agent won't let you know what problem the second hand house have.
2. High upfront fee
3. No Warranty, if the seller or agent cheated you. You are done once the deposit is paided
4. GST and lawyer fee incurred.

From what I see above, I cannot see its a good thing to invest in property.

What do you think? And how can we remedy the problem with second hand house?
*
I'm an investor in both old and new.
Subsales tend to be premium and prime stuff that I found at a discount. Nearly all subsales I've bought are landed or very high end condos.

New launches, I buy condos but I don't really buy the 1st launch and wait 4 years for it, I buy when it is nearing VP, already VP or unit still in new condition.

One thing you have forgotten, all the reasons for a new buy have already been priced into the purchase price, everything you said we are getting for free, its been factored in. Also most places that are sold with high rebates aren't investment grade investments or you need to be an extremely skilled one to navigate this minefield.

As for the disadvantages you mentioned for subsale, that depends who you are smile.gif

Upfront fees? There are always ways and means to press down the price and get an over-valuation from the bank that negates the high entry cost fees.

Renovation and repair cost? Who asked you not to do your homework?

Warranty? Does not appear new properties are all that better these days.

GST been abolished smile.gif

Lawyer fees, non-issue. Rather pay and have my interest well taken care off. You do realise when the developer pays it that the contract will always favour the one who paid biggrin.gif

As for which I prefer to buy for long term investment, I'm not a property flipper. Also I don't buy a property unless I have a 30-40% deposit and I strictly buy based on location.
TSsoules83
post Jun 13 2019, 07:54 AM

Hohoho I dunno
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QUOTE(Bjorn1688 @ Jun 13 2019, 01:34 AM)
I'm an investor in both old and new.
Subsales tend to be premium and prime stuff that I found at a discount. Nearly all subsales I've bought are landed or very high end condos.

New launches, I buy condos but I don't really buy the 1st launch and wait 4 years for it, I buy when it is nearing VP, already VP or unit still in new condition.

One thing you have forgotten, all the reasons for a new buy have already been priced into the purchase price, everything you said we are getting for free, its been factored in. Also most places that are sold with high rebates aren't investment grade investments or you need to be an extremely skilled one to navigate this minefield.

As for the disadvantages you mentioned for subsale, that depends who you are smile.gif

Upfront fees? There are always ways and means to press down the price and get an over-valuation from the bank that negates the high entry cost fees.

Renovation and repair cost? Who asked you not to do your homework?

Warranty? Does not appear new properties are all that better these days.

GST been abolished smile.gif

Lawyer fees, non-issue. Rather pay and have my interest well taken care off. You do realise when the developer pays it that the contract will always favour the one who paid  biggrin.gif

As for which I prefer to buy for long term investment, I'm not a property flipper. Also I don't buy a property unless I have a 30-40% deposit and I strictly buy based on location.
*
Renovation and repair cost? Who asked you not to do your homework? <---- its easier to said and done, not everything can be detected on the spot except you stay here for months.
Asali
post Jun 13 2019, 08:22 AM

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QUOTE(propertybuddy @ Jun 12 2019, 06:24 PM)

*
See this -> https://www.youtube.com/watch?v=qpibde8E5Y0

Don't get me wrong. I am fully agreed property investment still the best but is kind of very traditional investment.
aurora97
post Jun 13 2019, 08:33 AM

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QUOTE(soules83 @ Jun 13 2019, 07:54 AM)
Renovation and repair cost? Who asked you not to do your homework?  <---- its easier to said and done, not everything can be detected on the spot except you stay here for months.
*
Not necessary staying for months also you can detect it, some may take years.

Then again, a person who has bought enough property and having to deal with the mess (both time and money), you will notice a thing or two.

If in doubt, there are professionals out there that can inspect the property for you.

Unless you are prepared to pay someone else to do the job for you, be prepared for high renovation and repair cost.

Asali
post Jun 13 2019, 08:48 AM

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QUOTE(Asali @ Jun 13 2019, 08:22 AM)
See this -> https://www.youtube.com/watch?v=qpibde8E5Y0

Don't get me wrong. I am fully agreed property investment still the best but is kind of very traditional investment.
*
What I meant is peoples were too used to making money by speculating on the stock and the property markets especially Chinese. I reckoned new generations or young guys should not follow this old mindset. We need more creativity for Malaysian so that we won't left too behind. We've so many developers and developers are kept repeating tells that there isn't enough houses being built for the populations growth based on the true data.
Harry_Bobinski
post Jun 13 2019, 09:14 AM

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For myself, I have never been a property investor but I have just recently acquired a subsale house in Bandar Kinrara and plan to move from my apartment (also in Bandar Kinrara).

The reason why I am fine with buying a subsale house here is because I like the location and the new houses (Qaseh, Kinrara Hills) are not affordable for me. At the very same time, there are times that the owners are willing to let go at a very discounted price (be it due to financial troubles) or possibly auction.

No doubt renovation costs are expensive, but if you know the right person (fortunately given the nature of my business), you will be able to budget perfectly.

TL;DR My opinion for pros in getting subsale houses:
1. Good location
2. Very few affordable new developments going on around
3. Discounted price in relation to the present land value
4. Some houses come with cabinets so you can save up on this
5. Established neighbourhood and before purchasing the house, you can even have a little chat with your potential neighbours regarding the environment etc.
TSsoules83
post Jun 13 2019, 09:45 AM

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QUOTE(aurora97 @ Jun 13 2019, 08:33 AM)
Not necessary staying for months also you can detect it, some may take years.

Then again, a person who has bought enough property and having to deal with the mess (both time and money), you will notice a thing or two.

If in doubt, there are professionals out there that can inspect the property for you.

Unless you are prepared to pay someone else to do the job for you, be prepared for high renovation and repair cost.
*
"there are professionals out there that can inspect the property for you" <--- I would be interested to know where to find those services, and second to that the agent also need to give you the key even before you put the deposit.

Not sure there are law where buyer can reject the deal if too much problem is detected.
New Klang
post Jun 13 2019, 10:16 AM

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QUOTE(Bjorn1688 @ Jun 13 2019, 01:34 AM)

Subsales tend to be premium and prime stuff that I found at a discount. Nearly all subsales I've bought are landed or very high end condos.


Upfront fees? There are always ways and means to press down the price and get an over-valuation from the bank that negates the high entry cost fees.


*
Subsales premium but discount? Don't understand.

How to press price?
Hisaishi
post Jun 13 2019, 10:35 AM

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thats why so many people renting now
Harry_Bobinski
post Jun 13 2019, 10:39 AM

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QUOTE(New Klang @ Jun 13 2019, 10:16 AM)
Subsales premium but discount? Don't understand.

How to press price?
*
I have met countless owners who will tell that there are people that are scheduled to view the house after me and act as if they are busy. Some even claimed that they are moving to a much more premium location. I am unsure about Bjorn1688's encounter but for most landed house owners - be it Putra Heights, Bukit Jelutong, Bandar Kinrara, Kota Kemuning, I think around 50% (from the houses that I viewed) are desperate and can't wait to sell their place. I could cut easily 100k from just 1 day of negotiation for a RM1m property and few months of silence, I am able to cut it by 150k.
biruNippon
post Jun 13 2019, 11:10 AM

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QUOTE(Harry_Bobinski @ Jun 13 2019, 10:39 AM)
I have met countless owners who will tell that there are people that are scheduled to view the house after me and act as if they are busy. Some even claimed that they are moving to a much more premium location. I am unsure about Bjorn1688's encounter but for most landed house owners - be it Putra Heights, Bukit Jelutong, Bandar Kinrara, Kota Kemuning, I think around 50% (from the houses that I viewed) are desperate and can't wait to sell their place. I could cut easily 100k from just 1 day of negotiation for a RM1m property and few months of silence, I am able to cut it by 150k.
*
RM 100k from RM 1m only 10%. By the way, Putra Height got reach until that high?
icemanfx
post Jun 13 2019, 11:15 AM

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QUOTE(Harry_Bobinski @ Jun 13 2019, 10:39 AM)
I have met countless owners who will tell that there are people that are scheduled to view the house after me and act as if they are busy. Some even claimed that they are moving to a much more premium location. I am unsure about Bjorn1688's encounter but for most landed house owners - be it Putra Heights, Bukit Jelutong, Bandar Kinrara, Kota Kemuning, I think around 50% (from the houses that I viewed) are desperate and can't wait to sell their place. I could cut easily 100k from just 1 day of negotiation for a RM1m property and few months of silence, I am able to cut it by 150k.
*
Typical re agent's trick.

Harry_Bobinski
post Jun 13 2019, 11:25 AM

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QUOTE(biruNippon @ Jun 13 2019, 11:10 AM)
RM 100k from RM 1m only 10%. By the way, Putra Height got reach until that high?
*
Yeah 10% reduction in just one day. But irrelevant to that, you will be surprised how delusional most of the landed owners are cause they think that they can fetch good price from buyers and that the price advertised are already optimal.

There are some houses in Putra Heights that I looked at (old but measured at 26x80) which are quite nice, mostly Section 7. I couldn't afford Section 8, Kingsley Hills, and the Glades (the buildup is a bit funny to me). There are some houses at I didn't pick the houses there at the end cause of location mainly.
Harry_Bobinski
post Jun 13 2019, 11:27 AM

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QUOTE(icemanfx @ Jun 13 2019, 11:15 AM)
Typical re agent's trick.
*
The best one I have encountered is a snapshot of a cheque "that was issued by a buyer" as booking fee and that I can still pay booking fee cause I approached the owner first haha.
se800i
post Jun 13 2019, 11:29 AM

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Buy new house:

1. Low DP just booking fee
2. save huge renovation cost
3. Many Tier security.....
4. save whatever MOT fee bla bla bla...
5. huge discount/Move in bonus
icemanfx
post Jun 13 2019, 11:45 AM

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QUOTE(Harry_Bobinski @ Jun 13 2019, 11:27 AM)
The best one I have encountered is a snapshot of a cheque "that was issued by a buyer" as booking fee and that I can still pay booking fee cause I approached the owner first haha.
*
Typical FOMO tactic.

leodinouknow
post Jun 13 2019, 12:11 PM

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QUOTE(New Klang @ Jun 13 2019, 11:16 AM)
Subsales premium but discount? Don't understand.

How to press price?
*
sure or not you dont know? just parang owner 20-30% lower from asking price, then ask owner agree do for mark up loan. easily cover all down payment, lawyer fee, renovation fee.

10% slash is very normal, any ahgou ahmao can do it too if dare to open their golden mouth. while slash 20%~30% is need some experience and luck. need meet tio desperate owner or kind owner or stupid owner
aurora97
post Jun 13 2019, 01:24 PM

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QUOTE(soules83 @ Jun 13 2019, 09:45 AM)
"there are professionals out there that can inspect the property for you" <--- I would be interested to know where to find those services, and second to that the agent also need to give you the key even before you put the deposit.

Not sure there are law where buyer can reject the deal if too much problem is detected.
*
1st question - google search: type: property defect inspector malaysia.

If too lazy, here is one example, btw i dont endorse or promote this company, this is just an EXAMPLE:

https://www.canaanbuildinginspector.com

If sub-sale, i would tell the agent, i will pay deposit and i will buy the unit depending on satisfactory outcome of inspection. If domt agree then no deal.

Sub sale, rule of thumb:
1. Caveat emptor: buyer beware. (Google search for full meaning kay);
2. As is where is basis. Or what u see, what u get.

Only exception if the seller gives u warranty or representations.

If nothing in writing, the odds will be against u or ur case will be much harder for u.
New Klang
post Jun 13 2019, 01:39 PM

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QUOTE(Harry_Bobinski @ Jun 13 2019, 10:39 AM)
I have met countless owners who will tell that there are people that are scheduled to view the house after me and act as if they are busy. Some even claimed that they are moving to a much more premium location. I am unsure about Bjorn1688's encounter but for most landed house owners - be it Putra Heights, Bukit Jelutong, Bandar Kinrara, Kota Kemuning, I think around 50% (from the houses that I viewed) are desperate and can't wait to sell their place. I could cut easily 100k from just 1 day of negotiation for a RM1m property and few months of silence, I am able to cut it by 150k.
*
Did u buy after discount?
New Klang
post Jun 13 2019, 01:42 PM

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QUOTE(Harry_Bobinski @ Jun 13 2019, 11:25 AM)
Yeah 10% reduction in just one day. But irrelevant to that, you will be surprised how delusional most of the landed owners are cause they think that they can fetch good price from buyers and that the price advertised are already optimal.

There are some houses in Putra Heights that I looked at (old but measured at 26x80) which are quite nice, mostly Section 7. I couldn't afford Section 8, Kingsley Hills, and the Glades (the buildup is a bit funny to me). There are some houses at  I didn't pick the houses there at the end cause of location mainly.
*
I see PH developed since year 2000. Should be matured now.

But u need to like this area to appreciate the peace and slow life.
Harry_Bobinski
post Jun 13 2019, 02:21 PM

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QUOTE(New Klang @ Jun 13 2019, 01:39 PM)
Did u buy after discount?
*
As a matter of fact, yes... As Tupai would know, I actually was aiming for a lelong house. So basically I was waiting for the auction date to be released (No 6, Jalan DU 4/1 - Kinrara Residence). From expected auction date of April got push all the way to May 27th for court hearing, not knowing if the house will be auctioned or not. So the months of silence got the owner uneasy I guess? So instead of the original price, the owner willing to drop the price down further for me.

QUOTE(New Klang @ Jun 13 2019, 01:42 PM)
I see PH developed since year 2000. Should be matured now.

But u need to like this area to appreciate the peace and slow life.
*
Yes, I was just looking away to PH and Bukit Jelutong at one point cause I didn't think Bandar Kinrara would be worth it for my purchase (The price is just too insane) despite me loving Bandar Kinrara since I have an apartment here. This was all before and during me waiting for auction date announcement in April. I even started a poll here before cause I was not sure as to where I want to look at at the end. But yeah I ended up buying this house in BK (signed SPA in late May).
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post Jun 13 2019, 02:28 PM

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QUOTE(soules83 @ Jun 12 2019, 06:15 PM)
Hi Guys,

I notice a lot of ppl prefer to buy new house from developer rather than 2nd hand market. Don't you think its a crisis for property investor?

The reason are:
1. Developer warranty is available for new house
2. Reduce renovation cost
3. Waived GST, lawyer fee and more
4. Affordable due to cash rebate for upfront fee

And the disadvantage of second hand house are:
1. High renovation and repair cost. Usually the seller and the agent won't let you know what problem the second hand house have.
2. High upfront fee
3. No Warranty, if the seller or agent cheated you. You are done once the deposit is paided
4. GST and lawyer fee incurred.

From what I see above, I cannot see its a good thing to invest in property.

What do you think? And how can we remedy the problem with second hand house?
*
depend on location,
just tear and rebuilt
Bjorn1688
post Jun 13 2019, 03:49 PM

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QUOTE(soules83 @ Jun 13 2019, 07:54 AM)
Renovation and repair cost? Who asked you not to do your homework?  <---- its easier to said and done, not everything can be detected on the spot except you stay here for months.
*
Just because you can't spot it doesn't mean other people can't or can't do it for you.

I call in my usual renovation contractor, give him 2 hours he can tell me everything that is amiss with a 4000sf semi-d and you'd be surprised what a UV torch could reveal about a house.

RM400 is all that it cost me to find out every single thing that is wrong with the house.

Most sellers would allow you to inspect all you want if there isn't anything to be discovered. Find an issue adjust the price accordingly.




Bjorn1688
post Jun 13 2019, 04:14 PM

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QUOTE(Harry_Bobinski @ Jun 13 2019, 10:39 AM)
I have met countless owners who will tell that there are people that are scheduled to view the house after me and act as if they are busy. Some even claimed that they are moving to a much more premium location. I am unsure about Bjorn1688's encounter but for most landed house owners - be it Putra Heights, Bukit Jelutong, Bandar Kinrara, Kota Kemuning, I think around 50% (from the houses that I viewed) are desperate and can't wait to sell their place. I could cut easily 100k from just 1 day of negotiation for a RM1m property and few months of silence, I am able to cut it by 150k.
*
I don't meet or have any interaction with potential buyers. I appoint agents for a reason.

5-10% off the listed price? I've already priced that in when listing biggrin.gif
TSsoules83
post Jun 13 2019, 11:52 PM

Hohoho I dunno
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QUOTE(aurora97 @ Jun 13 2019, 01:24 PM)
1st question - google search: type: property defect inspector malaysia.

If too lazy, here is one example, btw i dont endorse or promote this company, this is just an EXAMPLE:

https://www.canaanbuildinginspector.com

If sub-sale, i would tell the agent, i will pay deposit and i will buy the unit depending on satisfactory outcome of inspection. If domt agree then no deal.

Sub sale, rule of thumb:
1. Caveat emptor: buyer beware. (Google search for full meaning kay);
2. As is where is basis. Or what u see, what u get.

Only exception if the seller gives u warranty or representations.

If nothing in writing, the odds will be against u or ur case will be much harder for u.
*
good info. thanks a bunch! flex.gif
TSsoules83
post Jun 13 2019, 11:54 PM

Hohoho I dunno
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QUOTE(Bjorn1688 @ Jun 13 2019, 03:49 PM)
Just because you can't spot it doesn't mean other people can't or can't do it for you.

I call in my usual renovation contractor, give him 2 hours he can tell me everything that is amiss with a 4000sf semi-d and you'd be surprised what a UV torch could reveal about a house.

RM400 is all that it cost me to find out every single thing that is wrong with the house.

Most sellers would allow you to inspect all you want if there isn't anything to be discovered. Find an issue adjust the price accordingly.
*
sounds good. maybe should revisit with the renovation contractor to review if decided to buy.
ManutdGiggs
post Jun 14 2019, 05:59 AM

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QUOTE(se800i @ Jun 13 2019, 11:29 AM)
Buy new house:

1. Low DP just booking fee
2. save huge renovation cost
3. Many Tier security.....
4. save whatever MOT fee bla bla bla...
5. huge discount/Move in bonus
*
No. 3 oso applicable to any new landed???
No. 4 meaning new props no need to pay MOT???
NO. 5 applicable to all new props???

Pls share πŸ™πŸ™πŸ™

Tqtq
csbong87
post Jun 14 2019, 06:08 AM

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Normally for own stay I'll surely to go for new houses, as per subsale for investment provided the return numbers.
pilotHans
post Jun 14 2019, 08:20 AM

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subsale you already know ur outcome, surroundings, environment, neighbor demographic, issues, house quality , etc......just -ve normaly it will be a bit pricey......it's about options and you budget. biggrin.gif
Harry_Bobinski
post Jun 14 2019, 08:43 AM

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QUOTE(pilotHans @ Jun 14 2019, 08:20 AM)
subsale you already know ur outcome, surroundings, environment, neighbor demographic, issues, house quality ,  etc......just -ve normaly it will be a bit pricey......it's about options and you budget. biggrin.gif
*
Also highly depends. Every now and then there will be an owner that will be desperate to sell their unit off for whatever reasons. We could only hope that it’s financial trouble. So instead having to lock in the price that is set by developers, the price set by the owners are way more flexible depending on how you negotiate.
pilotHans
post Jun 14 2019, 10:04 AM

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talking on subsales :

QUOTE(Harry_Bobinski @ Jun 14 2019, 08:43 AM)
Also highly depends. Every now and then there will be an owner that will be desperate to sell their unit off for whatever reasons. We could only hope that it’s financial trouble. So instead having to lock in the price that is set by developers, the price set by the owners are way more flexible depending on how you negotiate.
*
yes indeed, but the fact that you already know your final outcome, house exact facade, morning sun/evening sun, road, drainage, neighbors topology, break-in cases records, reviews from neighbors, traffic testing at early morning/peak hours simulation etc gives one a piece of mind compared to gambling on new projects. Buying new projects are a bit gamble + you are predicting future and visualizing the environment .....both got pro and cons...none are superior then each other. it comes to personal preference, budget and ownstay/investment factors. that's it smile.gif
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post Jun 14 2019, 10:39 AM

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As a matter of fact, the pro could also be con, considering some subsale houses that are "Fully renovated, fully extended to the back" are sold at an incredible high/low price. I think it is noteworthy to check a bare unit around the area to offset their "renovation value" and see if it's worth. Some owners try to exaggerate the cost while some just wants to get rid of the house.
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post Jun 14 2019, 10:43 AM

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QUOTE(Harry_Bobinski @ Jun 14 2019, 10:39 AM)
As a matter of fact, the pro could also be con, considering some subsale houses that are "Fully renovated, fully extended to the back" are sold at an incredible high/low price. I think it is noteworthy to check a bare unit around the area to offset their "renovation value" and see if it's worth. Some owners try to exaggerate the cost while some just wants to get rid of the house.
*
1) yet indeed. one needs to survey and do their due diligence to not regret later. One must have a thick face to just go wonder around....

2) heck once i've surveyed a single story bungalow behind digitall mall SS14 just to have a feel tongue.gif that time i was in my 20s and hardly had money laugh.gif nice fully renovated house + free arowana fish biggrin.gif
leodinouknow
post Jun 14 2019, 11:03 AM

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QUOTE(pilotHans @ Jun 14 2019, 11:43 AM)
1) yet indeed. one needs to survey and do their due diligence to not regret later. One must have a thick face to just go wonder around....

2)  heck once i've surveyed a single story bungalow behind digitall mall SS14 just to have a feel  tongue.gif that time i was in my 20s and hardly had money laugh.gif  nice fully renovated house + free arowana fish  biggrin.gif
*
so end of the day, did you purchase it in later years? got so good freebies sumore, arowana fish
pilotHans
post Jun 14 2019, 11:15 AM

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QUOTE(leodinouknow @ Jun 14 2019, 11:03 AM)
so end of the day, did you purchase it in later years? got so good freebies sumore, arowana fish
*

i did an observation for one afternoon - till evening. it's prone to brake ins and random people from that jaya mall tend to pass by which i feel not nice sweat.gif

answering your Q, no i didn't . That time was 1.1 Million. now im not so sure. What I'm trying to say is, just because we can't afford it today, doesn't mean we can't view/appreciate it biggrin.gif
leodinouknow
post Jun 14 2019, 12:06 PM

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QUOTE(pilotHans @ Jun 14 2019, 12:15 PM)
i did an observation for one afternoon - till evening. it's prone to brake ins and random people from that jaya mall tend to pass by which i feel not nice  sweat.gif

answering your Q, no i didn't . That time was 1.1 Million. now im not so sure. What I'm trying to say is, just because we can't afford it today, doesn't mean we can't view/appreciate it  biggrin.gif
*
for me, i dont like waste time if cant afford it. same like going lamborghini shop walk walk take selfie for what? getting curse by sales staff only. only view it if feel can afford, then only consider buy or not buy.

you should at least buy the arowana fish
pilotHans
post Jun 14 2019, 12:26 PM

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QUOTE(leodinouknow @ Jun 14 2019, 12:06 PM)
for me, i dont like waste time if cant afford it. same like going lamborghini shop walk walk take selfie for what? getting curse by sales staff only. only view it if feel can afford, then only consider buy or not buy.

you should at least buy the arowana fish
*
1) this was like 10years++ ago biggrin.gif and no, i don't need an arowana atm , it will surely die during my travel trips cry.gif biggrin.gif

2) that would be childish to selfie with stuff that are not ours and post in on soc-med. What I was trying to say is if your young now, with not much money, it still doesn't hurt to just go inside a property show room/ask around for future references. At least the exposure would make on have a vision on what the future lies, not only based on what u read on forums. Talk to agents, and get to know whatever you want to know. Knowledge is free , and not trying to get em is one's lost biggrin.gif

cheers smile.gif
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post Jun 14 2019, 12:28 PM

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Better buy new than used mentality
TSsoules83
post Jun 14 2019, 01:41 PM

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I have to admit the warranty for new building is attractive. And low downpayment is the key.
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post Jun 14 2019, 02:16 PM

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QUOTE(pilotHans @ Jun 14 2019, 01:26 PM)
1) this was like 10years++ ago  biggrin.gif and no, i don't need an arowana atm , it will surely die during my travel trips cry.gif  biggrin.gif

2) that would be childish to selfie with stuff that are not ours and post in on soc-med. What I was trying to say is if your young now,  with not much money, it still doesn't hurt to just go inside a property show room/ask around for future references. At least the exposure would make on have a vision on what the future lies, not only based on what u read on forums. Talk to agents, and get to know whatever you want to know. Knowledge is free , and not trying to get em is one's lost biggrin.gif

cheers  smile.gif
*
knowledge is free, but time is not. agent once saw age 20plus young guy viewing 1m house which know he/she cant afford, still willing show you and explain all in detail for you? please give the agent a medal

and dont forget look for him to support his service when you ready to purchase property. as seldom got this kind heart person already
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post Jun 14 2019, 02:38 PM

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QUOTE(soules83 @ Jun 14 2019, 01:41 PM)
I have to admit the warranty for new building is attractive. And low downpayment is the key.
*
While you may get new development that is filled with promises by developers, there is a chance for it not happening. Take Alam Impian and Laman Glenmarie for example. Alam Impian was promised with tons of new commercial developments and people flock in and buy for investment. Think this is back in 2011? 2013? Not sure. And as for Laman Glenmarie, the only ones staying there now are very few random families and DRB-Hicom people who bought at a discount. At that time tons of people buy it thinking it would be a great rent market with the university closeby (manatau an in-campus hostel was build). So when you buy a house, even for own stay, if new development it is still a risk.

QUOTE(leodinouknow @ Jun 14 2019, 02:16 PM)
knowledge is free, but time is not. agent once saw age 20plus young guy viewing 1m house which know he/she cant afford, still willing show you and explain all in detail for you? please give the agent a medal

and dont forget look for him to support his service when you ready to purchase property. as seldom got this kind heart person already
*
I am currently 20 plus and was viewing 1.2m house leh. There are still agents showing you around and very detailed and patient.
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post Jun 14 2019, 02:55 PM

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QUOTE(Harry_Bobinski @ Jun 14 2019, 03:38 PM)
I am currently 20 plus and was viewing 1.2m house leh. There are still agents showing you around and very detailed and patient.
*
im 20 plus too. last year when i go view house about 500k, agent keep ask me izit im agent too. or i view the house on behave of my parent or somebody else.

im going with my gf, viewing house should be planning to start family type, potential customer type. wonder why the agent look down on me.
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post Jun 14 2019, 02:58 PM

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QUOTE(soules83 @ Jun 14 2019, 01:41 PM)
I have to admit the warranty for new building is attractive. And low downpayment is the key.
*
A warranty on a building is only as attractive as the developer willing to rectify in a timely manner.

Unfortunately those types of developers usually build developments that are not investment grade or at least not the type where you could easily make money on unless you are already wealthy.
TSsoules83
post Jun 14 2019, 06:40 PM

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QUOTE(Bjorn1688 @ Jun 14 2019, 02:58 PM)
A warranty on a building is only as attractive as the developer willing to rectify in a timely manner.

Unfortunately those types of developers usually build developments that are not investment grade or at least not the type where you could easily make money on unless you are already wealthy.
*
subsale also not cheap, if its a really prime area...
TSsoules83
post Jun 14 2019, 06:43 PM

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QUOTE(Harry_Bobinski @ Jun 14 2019, 02:38 PM)
While you may get new development that is filled with promises by developers, there is a chance for it not happening. Take Alam Impian and Laman Glenmarie for example. Alam Impian was promised with tons of new commercial developments and people flock in and buy for investment. Think this is back in 2011? 2013? Not sure. And as for Laman Glenmarie, the only ones staying there now are very few random families and DRB-Hicom people who bought at a discount. At that time tons of people buy it thinking it would be a great rent market with the university closeby (manatau an in-campus hostel was build). So when you buy a house, even for own stay, if new development it is still a risk.
I am currently 20 plus and was viewing 1.2m house leh. There are still agents showing you around and very detailed and patient.
*
Yeah. There are such risk "if you looking for investment". But for self stay or so call first house. Usually its from developer due to the down payment. Nowsday some developer provide fully furniture house some more!

But if you go get sub-sale, sure it would be more expensive than developer in total.
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post Jun 14 2019, 06:59 PM

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QUOTE(soules83 @ Jun 12 2019, 07:15 PM)
Hi Guys,

I notice a lot of ppl prefer to buy new house from developer rather than 2nd hand market. Don't you think its a crisis for property investor?

The reason are:
1. Developer warranty is available for new house
2. Reduce renovation cost
3. Waived GST, lawyer fee and more
4. Affordable due to cash rebate for upfront fee

And the disadvantage of second hand house are:
1. High renovation and repair cost. Usually the seller and the agent won't let you know what problem the second hand house have.
2. High upfront fee
3. No Warranty, if the seller or agent cheated you. You are done once the deposit is paided
4. GST and lawyer fee incurred.

From what I see above, I cannot see its a good thing to invest in property.

What do you think? And how can we remedy the problem with second hand house?
*
1st hand is always is better but for me, those new 1 and affordable mostly is outskirt
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post Jun 15 2019, 03:05 AM

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QUOTE(New Klang @ Jun 13 2019, 10:16 AM)
Subsales premium but discount? Don't understand.

How to press price?
*
There will always be places at premium areas that can be had for a discount. Even with a discount don't expect it to be "cheap"

How I press price? Well I have people on the lookout for me, a lawyer, a banker, several loan sharks/money lenders and agents who knows what I am after.
The ones I'm always after? A seller that suddenly had a change of circumstance and could no longer afford the mortgage payments, a divorcing couple that must sell off their marital home (this one the more bitter the divorce the better) and an estate sale (the more parties fighting for a piece of the piece the better)

My target? A property bearing #8, 17, 18, 28, 35, 38, 68, 88, 89, 118, 128, 138, 168, 188 and 198, a cul-de-sac property, a corner unit and the ultimate prize will be a corner + the intermediate next to it and the corner is one of the numbers above. 65-70% of market value of a basic unit in the area and +10% for a corner landed place with land.

My weapon of choice? I buy paying cash from my OD and they can start spending money in as little as 3 business days.

Success rate :-

Financially distressed seller = 6/9 (non relatives) 5/5 (relatives)

Divorcing couples = 3/5

Estate sale = 5/7


QUOTE(se800i @ Jun 13 2019, 11:29 AM)
Buy new house:

1. Low DP just booking fee
2. save huge renovation cost
3. Many Tier security.....
4. save whatever MOT fee bla bla bla...
5. huge discount/Move in bonus
*
1) Is starting to be a myth these days, many banks are closing this loophole.
2) Are you sure on this?
3) This isn't really something new, also a subsale could mean buying a newly VP property.
5) Are you sure you want to buy a property with huge discounts?

QUOTE(soules83 @ Jun 13 2019, 11:54 PM)
sounds good. maybe should revisit with the renovation contractor to review if decided to buy.
*
Do that, some won't even charge and can help you also, I use this person to over-quote and exaggerate the scope of work needed and then further press down the price biggrin.gif

QUOTE(Harry_Bobinski @ Jun 14 2019, 10:39 AM)
As a matter of fact, the pro could also be con, considering some subsale houses that are "Fully renovated, fully extended to the back" are sold at an incredible high/low price. I think it is noteworthy to check a bare unit around the area to offset their "renovation value" and see if it's worth. Some owners try to exaggerate the cost while some just wants to get rid of the house.
*
This depends a lot on the area, many PJ freehold homes there is a price difference for a renovated and basic unit.

Anyway one thing for sure, renovated properties with extensions never impresses me and therefore I will refuse to pay a premium for it. In fact when an owner tells me the back of the house is fully extended I will tell him yeah I am calculating in my head how much it would be to tear it down and restore the house to its original size.

QUOTE(pilotHans @ Jun 14 2019, 10:43 AM)
1) yet indeed. one needs to survey and do their due diligence to not regret later. One must have a thick face to just go wonder around....

2)  heck once i've surveyed a single story bungalow behind digitall mall SS14 just to have a feel  tongue.gif that time i was in my 20s and hardly had money laugh.gif  nice fully renovated house + free arowana fish  biggrin.gif
*
A free arowana fish?? Goodness. How could someone sell a house with their pet still in it.

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post Jun 15 2019, 03:07 AM

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QUOTE(leodinouknow @ Jun 14 2019, 12:06 PM)
for me, i dont like waste time if cant afford it. same like going lamborghini shop walk walk take selfie for what? getting curse by sales staff only. only view it if feel can afford, then only consider buy or not buy.

you should at least buy the arowana fish
*
Never understood why people are into taking selfies with things they don't own.


QUOTE(soules83 @ Jun 14 2019, 06:40 PM)
subsale also not cheap, if its a really prime area...
*
Good things not cheap, cheap things not good smile.gif

QUOTE(soules83 @ Jun 14 2019, 06:43 PM)
Yeah. There are such risk "if you looking for investment". But for self stay or so call first house. Usually its from developer due to the down payment. Nowsday some developer provide fully furniture house some more!

But if you go get sub-sale, sure it would be more expensive than developer in total.
*
These days the loophole of no downpayment is slowly being tightened down by banks. You do get free legal fees for your SPA but that also comes with a risk, the lawyer will always act first in the interest of the developer rather than you as the developer is the paymaster.
Full furniture package? You sure you want to live in your own house that someone else furnished for you? Also many of these are cheap shit junk that isn't something you'd never buy if it was sold at Kedai Perabot Ah Beng. Better to get a cash discount instead at least you don't need to pay interest on the furniture for the years you will be servicing the loan.
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post Jun 15 2019, 07:29 AM

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QUOTE(leodinouknow @ Jun 14 2019, 02:55 PM)
im 20 plus too. last year when i go view house about 500k, agent keep ask me izit im agent too. or i view the house on behave of my parent or somebody else.

im going with my gf, viewing house should be planning to start family type, potential customer type. wonder why the agent look down on me.
*
Usually the agent afraid of the competition and but again the way he treated you, I far from believing he/she could make top sales by the behaviour.


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post Jun 15 2019, 07:33 AM

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QUOTE(soules83 @ Jun 14 2019, 06:43 PM)
Yeah. There are such risk "if you looking for investment". But for self stay or so call first house. Usually its from developer due to the down payment. Nowsday some developer provide fully furniture house some more!

But if you go get sub-sale, sure it would be more expensive than developer in total.
*
Fully furniture is not recommended, the material could subgrade eventually you feel disappointed. Unless you want to do a rental and less headache yes fully furnish package is great
addison250
post Jun 15 2019, 11:23 AM

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I personally dont't like new property because need to wait for long time and worrying about LAD, developer running away etc.

Prefer subsale for investment

Thanks for sharing here all sifu2

leodinouknow
post Jun 15 2019, 12:14 PM

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QUOTE(Azury36 @ Jun 15 2019, 08:29 AM)
Usually the agent afraid of the competition and but again the way he treated you, I far from believing he/she could make top sales by the behaviour.
*
cash is king. at last he/she also lan lan serve me, but im also give attidude back and unreasonable request ask settle for me only i purchase.
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post Jun 15 2019, 12:28 PM

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QUOTE(soules83 @ Jun 12 2019, 06:15 PM)
Hi Guys,

I notice a lot of ppl prefer to buy new house from developer rather than 2nd hand market. Don't you think its a crisis for property investor?

The reason are:
1. Developer warranty is available for new house
2. Reduce renovation cost
3. Waived GST, lawyer fee and more
4. Affordable due to cash rebate for upfront fee

And the disadvantage of second hand house are:
1. High renovation and repair cost. Usually the seller and the agent won't let you know what problem the second hand house have.
2. High upfront fee
3. No Warranty, if the seller or agent cheated you. You are done once the deposit is paided
4. GST and lawyer fee incurred.

From what I see above, I cannot see its a good thing to invest in property.

What do you think? And how can we remedy the problem with second hand house?
*
Because old house usually own by 1950 to 1970 uncle... For example... They r ego saying that youngster nowadays cannot afford new houses without the DP from them

..many old guy n fellow think that, their grandson will beg them to give DP to buy new houses... In fact, now the property market not really like that... Even with 5 to 6k salary mostly we can buy 2 to 3 affordable housing....

2 to 3....imagine...the old fellow oni buy 2 when they are 50 years old... Most of them...

Sometime however, now is buyer market... All 0 DP all waive n cash back n very helpful SA n desperate developers to clear stock...

Subsale becoming less popular as we hv many new launches every months, we hv bigger land in KV, and population growth is lesser.... So why buy subsale, when u can afford new houses with tons of advantages with aid from government like HOC campaign, reduce of OPR rate n

Soon will be more n more perk coming in... Forseen..



Rudd
post Jun 16 2019, 02:05 AM

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For me, because no downpayment needed.
But there is progressive interest to pay for.
ManutdGiggs
post Jun 16 2019, 07:24 AM

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Subsales is ong areas stil goin vely string especially for the past few mths due to hoc.

Dun tok bout those projects with lotsa lelong wan. Those might not b the units one is looking for.

Subsales is always gd tat u can see can touch can feel can even hire skl fs master to 6c6c tok some kok.

Personally I'm fine with either subsales or off the plan (peovided I'm buying fr selective developers). I dun simply taruk just bcos of some lenglui sales gals. Or gd package like 30% rebate. Or standalone resi project.

For off the plan one must know the area so well to invest in it. The future access. The future development around ur purchase. The demographic of tat area. The distance u r willing to travel in order to manage the prop. Anw I usually buy commi n ind props so the target tenant polls r different la.

Subsales oso got gd deal wan. At least half under my portfolio r fr subsales. Fac shop or landed n land oso got subsales. Timing is important. Same for any other investment.

Guru fs master skl can say Wat they wan. Wateva broker remisier fun minizer or mlm sales ponzi sales oso can say athg they wan. The rite product at the ngam timing r vely personal wan. The won't b a trump when Obama was there. Its timing.
MrBlackie33
post Jun 16 2019, 09:00 AM

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Just bought a decent size completed developer units, which i save on progressive interest, get free warranty, free MOT and only have to pay legal fees, summore the price is the same as launching price
But tbh alot of gud decent size subsale unit in the market with reasonable price which you couldnt find the same in new project now
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post Jun 16 2019, 10:56 AM

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QUOTE(ManutdGiggs @ Jun 16 2019, 07:24 AM)
Subsales is ong areas stil goin vely string especially for the past few mths due to hoc.

Dun tok bout those projects with lotsa lelong wan. Those might not b the units one is looking for.

Subsales is always gd tat u can see can touch can feel can even hire skl fs master to 6c6c tok some kok.

Personally I'm fine with either subsales or off the plan (peovided I'm buying fr selective developers). I dun simply taruk just bcos of some lenglui sales gals. Or gd package like 30% rebate. Or standalone resi project.

For off the plan one must know the area so well to invest in it. The future access. The future development around ur purchase. The demographic of tat area. The distance u r willing to travel in order to manage the prop. Anw I usually buy commi n ind props so the target tenant polls r different la.

Subsales oso got gd deal wan. At least half under my portfolio r fr subsales. Fac shop or landed n land oso got subsales. Timing is important. Same for any other investment.

Guru fs master skl can say Wat they wan. Wateva broker remisier fun minizer or mlm sales ponzi sales oso can say athg they wan. The rite product at the ngam timing r vely personal wan. The won't b a trump when Obama was there. Its timing.
*
Poorperly price is one of if not the most opaque among investment in assets. Spa/snp price is only worth the paper it's written on.

How many novice buyers know the demography, development, gdp, etc of the area in a few years time?

Anytime is a good time to buy poorperly is like playing baccarat in casino; some lucky will win but most will loss. A difference between casino and poorperly is one is game over <10 minutes and the other >3 years. Secondly, in casino, punter only loss what is on the table; for poorlerly, due to high leverage, one could end up in foreclosure and even bankruptcy.

This post has been edited by icemanfx: Jun 16 2019, 11:10 AM
ManutdGiggs
post Jun 16 2019, 11:12 AM

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QUOTE(icemanfx @ Jun 16 2019, 10:56 AM)
Poorperly price is one of if not the most opaque among investment in assets. Spa/snp price is only worth the paper it's written on.

How many novice buyers know the demography, development, gdp, etc of the area in a few years time?

Anytime is a good time to buy poorperly is like playing baccarat in casino; some lucky will win but most will loss. A difference between casino and poorperly is one is game over <10 minutes and the other >3 years. Secondly, in casino, punter only loss what is on the table; for poorlerly, due to high leverage, one could end up in foreclosure and even bankruptcy.
*
Go catch those key words then u hav answers for urs doubts.
icemanfx
post Jun 16 2019, 11:18 AM

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QUOTE(ManutdGiggs @ Jun 16 2019, 11:12 AM)
Go catch those key words then u hav answers for urs doubts.
*
If as easy as snake oil sellers claimed; there would be a lot more than 3.5 % of adults in this country have over us$100k net worth.

Believe some poorperly investors are already stressed and many more will be stressed. How much more blood you want to have on your hand before you satisfy?

This post has been edited by icemanfx: Jun 16 2019, 11:22 AM
ManutdGiggs
post Jun 16 2019, 11:42 AM

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QUOTE(icemanfx @ Jun 16 2019, 11:18 AM)
If as easy as snake oil sellers claimed; there would be a lot more than 3.5 % of adults in this country have over us$100k net worth.

Believe some poorperly investors are already stressed and many more will be stressed. How much more blood you want to have on your hand before you satisfy?
*
Too bad tat my observation of failure in edu sys actually proven in the hardworking student.

It's OK since comprehension is oso failed here. Let me finish my ramen then I go make sure no blood in R10πŸ‘ŒπŸ‘
icemanfx
post Jun 16 2019, 11:55 AM

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QUOTE(ManutdGiggs @ Jun 16 2019, 11:42 AM)
Too bad tat my observation of failure in edu sys actually proven in the hardworking student.

It's OK since comprehension is oso failed here. Let me finish my ramen then I go make sure no blood in R10πŸ‘ŒπŸ‘
*
The issue is statistics and data doesn't support snake oil sellers claim.

Blood of r10 will only appears in a few years time. There will be more blood on your hands.

This post has been edited by icemanfx: Jun 16 2019, 12:01 PM
ManutdGiggs
post Jun 16 2019, 12:21 PM

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QUOTE(icemanfx @ Jun 16 2019, 11:55 AM)
The issue is statistics and data doesn't support snake oil sellers claim.

Blood of r10 will only appears in a few years time. There will be more blood on your hands.
*
Lai la I hav red carpet for u liao. U can stay in my cubical in toilet to explore.
aspartame
post Jun 16 2019, 02:17 PM

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QUOTE(icemanfx @ Jun 16 2019, 10:56 AM)
Poorperly price is one of if not the most opaque among investment in assets. Spa/snp price is only worth the paper it's written on.

How many novice buyers know the demography, development, gdp, etc of the area in a few years time?

Anytime is a good time to buy poorperly is like playing baccarat in casino; some lucky will win but most will loss. A difference between casino and poorperly is one is game over <10 minutes and the other >3 years. Secondly, in casino, punter only loss what is on the table; for poorlerly, due to high leverage, one could end up in foreclosure and even bankruptcy.
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U equate property to baccarat.. aiyo... property is how great wealth is amassed with relative ease ... u just need common sense and control over emotion ...

Pm me for the timing ... chances sure higher than baccarat... in fact chances are 99.9% win... IF bought correctly.. ke ke
icemanfx
post Jun 16 2019, 03:13 PM

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QUOTE(aspartame @ Jun 16 2019, 02:17 PM)
U equate property to baccarat.. aiyo... property is how great wealth is amassed with relative ease ... u just need common sense and control over emotion ...

Pm me for the timing ... chances sure higher than baccarat... in fact chances are 99.9% win... IF bought correctly.. ke ke
*
Great wealth in property is amassed by developers.

BIG IF is the key. If easy, there should be a lot more than 3.5% adults in this country have over us$100k net worth.

You should have tell 99.9% win to those bought in last 5 years.
aspartame
post Jun 16 2019, 03:24 PM

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QUOTE(icemanfx @ Jun 16 2019, 03:13 PM)
Great wealth in property is amassed by developers.

BIG IF is the key. If easy, there should be a lot more than 3.5% adults in this country have over us$100k net worth.

You should have tell 99.9% win to those bought in last 5 years.
*
Over the decades ... so many people made fortunes from property.

Over the decades... none made money from baccarat long term.

Property = baccarat ? Lol
icemanfx
post Jun 16 2019, 03:27 PM

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QUOTE(aspartame @ Jun 16 2019, 03:24 PM)
Over the decades ... so many people made fortunes from property.

Over the decades... none made money from baccarat long term.

Property = baccarat ? Lol
*
In the long term, property price rise at about inflation rate.

Baccarat or not, ask those bought in last 5 years.

aspartame
post Jun 16 2019, 03:36 PM

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Why homeowners are richer than renters
icemanfx
post Jun 16 2019, 03:54 PM

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QUOTE(aspartame @ Jun 16 2019, 03:36 PM)
https://www.forbes.com/sites/camilomaldonad...eat-buying/amp/

https://www.theedgemarkets.com/article/buy-or-rent

https://www.moneyunder30.com/better-to-rent...-buy-a-home/amp

Like all investment assets, certain period is ideal to buy, hold, sell and abstain. Not all the time is good to buy.

Demographic change e.g slowing population growth, becoming ageing nation, etc mean what happened 30 years ago or presently is unlikely to reoccur in 30 years time.

This post has been edited by icemanfx: Jun 16 2019, 04:36 PM
wsoon82
post Jun 16 2019, 04:59 PM

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Ms. Ice, please stay to the topic "why people prefer to buy new house?", don't drag every topic into your topic.....everyone know your topic

Back to the topic, some reasons are:
1) some people no money to pay downpayment
2) some people prefer new house (no need worry history of the house etc.)
3) new house can choose the unit you like.
4) subsale is more uncertain to seal the deal, and the amount to be paid, time to be spent, etc.
5) some people just don't like to negotiate.

I agree subsale may find some good deals so don't lock yourself into certain thing.
icemanfx
post Jun 16 2019, 05:01 PM

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QUOTE(wsoon82 @ Jun 16 2019, 04:59 PM)
Ms. Ice, please stay to the topic "why people prefer to buy new house?", don't drag every topic into your topic.....everyone know your topic

Back to the topic, some reasons are:
1) some people no money to pay downpayment
2) some people prefer new house (no need worry history of the house etc.)
3) new house can choose the unit you like.
4) subsale is more uncertain to seal the deal, and the amount to be paid, time to be spent, etc.
5) some people just don't like to negotiate.

I agree subsale may find some good deals so don't lock yourself into certain thing.
*
Topic was deviated by your bbb/uuu buddy.

Basically low entry cost.

This post has been edited by icemanfx: Jun 16 2019, 05:38 PM
TSsoules83
post Jun 16 2019, 05:18 PM

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QUOTE(MrBlackie33 @ Jun 16 2019, 09:00 AM)
Just bought a decent size completed developer units, which i save on progressive interest, get free warranty, free MOT and only have to pay legal fees, summore the price is the same as launching price
But tbh alot of gud decent size subsale unit in the market with reasonable price which you couldnt find the same in new project now
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you didn't factor in the repair cost yet.
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post Jun 16 2019, 05:23 PM

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QUOTE(soules83 @ Jun 16 2019, 05:18 PM)
you didn't factor in the repair cost yet.
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repair cost for subsale unit? i was only eyeing for those just vped virgin unit, so to keep minimum repair cost even thou the DLP may have ended.
wsoon82
post Jun 16 2019, 05:31 PM

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QUOTE(icemanfx @ Jun 16 2019, 05:01 PM)
Basically low entry cost.
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More than that.... But no plan to argue with you
se800i
post Jun 17 2019, 08:00 AM

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QUOTE(pilotHans @ Jun 14 2019, 01:26 PM)
1) this was like 10years++ ago  biggrin.gif and no, i don't need an arowana atm , it will surely die during my travel trips cry.gif  biggrin.gif

2) that would be childish to selfie with stuff that are not ours and post in on soc-med. What I was trying to say is if your young now,  with not much money, it still doesn't hurt to just go inside a property show room/ask around for future references. At least the exposure would make on have a vision on what the future lies, not only based on what u read on forums. Talk to agents, and get to know whatever you want to know. Knowledge is free , and not trying to get em is one's lost biggrin.gif

cheers  smile.gif
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getting knowledge is true... I used to be like that when I was 20++, we should upgrade ourself with many kinds of knowledges.

QUOTE(leodinouknow @ Jun 14 2019, 03:16 PM)
knowledge is free, but time is not. agent once saw age 20plus young guy viewing 1m house which know he/she cant afford, still willing show you and explain all in detail for you? please give the agent a medal

and dont forget look for him to support his service when you ready to purchase property. as seldom got this kind heart person already
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QUOTE(Harry_Bobinski @ Jun 14 2019, 03:38 PM)
While you may get new development that is filled with promises by developers, there is a chance for it not happening. Take Alam Impian and Laman Glenmarie for example. Alam Impian was promised with tons of new commercial developments and people flock in and buy for investment. Think this is back in 2011? 2013? Not sure. And as for Laman Glenmarie, the only ones staying there now are very few random families and DRB-Hicom people who bought at a discount. At that time tons of people buy it thinking it would be a great rent market with the university closeby (manatau an in-campus hostel was build). So when you buy a house, even for own stay, if new development it is still a risk.
I am currently 20 plus and was viewing 1.2m house leh. There are still agents showing you around and very detailed and patient.
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I still met this kind of agent.... I wear like a very young boy cincai wearing... still he serve me.


QUOTE(leodinouknow @ Jun 14 2019, 03:55 PM)
im 20 plus too. last year when i go view house about 500k, agent keep ask me izit im agent too. or i view the house on behave of my parent or somebody else.

im going with my gf, viewing house should be planning to start family type, potential customer type. wonder why the agent look down on me.
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if i met this kind of agent..... I will straight away walkout or tell him excuse me, please ask another agent to explain to me I feel not comfortable talking to you.

se800i
post Jun 17 2019, 08:05 AM

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QUOTE(Rudd @ Jun 16 2019, 03:05 AM)
For me, because no downpayment needed.
But there is progressive interest to pay for.
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progressive interests is nothing la... just a few hundreds to a 1K ++
the actual instalment is the killing part...
TSsoules83
post Jun 17 2019, 08:50 AM

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QUOTE(MrBlackie33 @ Jun 16 2019, 05:23 PM)
repair cost for subsale unit? i was only eyeing for those just vped virgin unit, so to keep minimum repair cost even thou the DLP may have ended.
*
what is vped virgin unit?
Lescotesco
post Jun 17 2019, 11:32 AM

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QUOTE(MrBlackie33 @ Jun 16 2019, 05:23 PM)
repair cost for subsale unit? i was only eyeing for those just vped virgin unit, so to keep minimum repair cost even thou the DLP may have ended.
*
if u want to save progressive interest, then u can apply at branch to start paying the installment as soon as the bank first disburse out the money.

this is what my banker told me coz first 2 years got promo rate.
DesRed
post Jun 17 2019, 12:00 PM

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QUOTE(soules83 @ Jun 17 2019, 08:50 AM)
what is  vped virgin unit?
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Those units where the owners plan to flip it once they receive the keys. They're eager to make a quick buck, so they wouldn't bother to touch the unit. Just leave it as it is and wait it out until an interested buyer decides to buy it.

But these units will also end up under lelong if the owner are not able to service the monthly instalment for 2 or 3 months if I'm not mistaken. Very unlucky when they're not able to get an interested buyer to buy it, not to mention greedy.
icemanfx
post Jun 17 2019, 01:25 PM

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QUOTE(DesRed @ Jun 17 2019, 12:00 PM)
Those units where the owners plan to flip it once they receive the keys. They're eager to make a quick buck, so they wouldn't bother to touch the unit. Just leave it as it is and wait it out until an interested buyer decides to buy it.

But these units will also end up under lelong if the owner are not able to service the monthly instalment for 2 or 3 months if I'm not mistaken. Very unlucky when they're not able to get an interested buyer to buy it, not to mention greedy.
*
If developers units are still available. What chance flippers have?
Bjorn1688
post Jun 17 2019, 03:54 PM

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QUOTE(Lescotesco @ Jun 17 2019, 11:32 AM)
if u want to save progressive interest, then u can apply at branch to start paying the installment as soon as the bank first disburse out the money.

this is what my banker told me coz first 2 years got promo rate.
*
Out of curiosity could you please share which banks are allowing this practice?
Lescotesco
post Jun 17 2019, 04:42 PM

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QUOTE(Bjorn1688 @ Jun 17 2019, 03:54 PM)
Out of curiosity could you please share which banks are allowing this practice?
*
mine is hong leong bank.

first 2 promo rate is 4.03% - Rm 2,547, 3rd year 4.25% - Rm 2,617.

then i curious lo, becoz the first 2 years promo interest rate will start from the first day bank disbursement, and my project will take 2 years + more to complete, so by right when i first start paying installment should be start from 2617 straight away. then my banker told me i can apply at any branch to pay for the installment as soon as bank first disburse out the money.


Genji Shimada P
post Jun 17 2019, 06:22 PM

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Wouldn't you guys scare about buying a new unit but in the end, the unit has lot of problems, like water leaking, wall or floor cracking, the final outcome is not the same as expected and etc?at least buying a second hand house can have a look on the actual property first
Bjorn1688
post Jun 17 2019, 11:29 PM

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QUOTE(icemanfx @ Jun 17 2019, 01:25 PM)
If developers units are still available. What chance flippers have?
*
The topic of this thread is on preference of subsale vs new.

Stop derailing the thread with your usual junk.

QUOTE(Lescotesco @ Jun 17 2019, 04:42 PM)
mine is hong leong bank.

first 2 promo rate is 4.03% - Rm 2,547, 3rd year 4.25% - Rm 2,617.

then i curious lo, becoz the first 2 years promo interest rate will start from the first day bank disbursement, and my project will take 2 years + more to complete, so by right when i first start paying installment should be start from 2617 straight away. then my banker told me i can apply at any branch to pay for the installment as soon as bank first disburse out the money.
*
Thanks for the info, not many banks allow this practice I believe unless the property is less than a year to completion.

QUOTE(Genji Shimada @ Jun 17 2019, 06:22 PM)
Wouldn't you guys scare about buying a new unit but in the end, the unit has lot of problems, like water leaking, wall or floor cracking, the final outcome is not the same as expected and etc?at least buying a second hand house can have a look on the actual property first
*
Buying from a very reputable developer and a development built by a good main con generally addresses that scare.

Most of the issues you mentioned are fixable and usually don't indicate anything serious, remember buildings do move and settlements do occur. Question is whether or not the developer addresses the issues and provides a fix in a timely fashion.
icemanfx
post Jun 17 2019, 11:31 PM

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QUOTE(Bjorn1688 @ Jun 17 2019, 11:29 PM)
The topic of this thread is on preference of subsale vs new.

Stop derailing the thread with your usual junk.
Thanks for the info, not many banks allow this practice I believe unless the property is less than a year to completion.
Buying from a very reputable developer and a development built by a good main con generally addresses that scare.

Most of the issues you mentioned are fixable and usually don't indicate anything serious, remember buildings do move and settlements do occur. Question is whether or not the developer addresses the issues and provides a fix in a timely fashion.
*
If you replied meant is worthy.

This post has been edited by icemanfx: Jun 17 2019, 11:32 PM
TSsoules83
post Jun 18 2019, 08:15 AM

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QUOTE(Genji Shimada @ Jun 17 2019, 06:22 PM)
Wouldn't you guys scare about buying a new unit but in the end, the unit has lot of problems, like water leaking, wall or floor cracking, the final outcome is not the same as expected and etc?at least buying a second hand house can have a look on the actual property first
*
problem is sub property don't give you enough time to inspect the unit and sub sale unit its like after someone wear the cloth and sell it to you, for new developer unit...you may knock the wall to check until u syok.

This post has been edited by soules83: Jun 18 2019, 08:17 AM
kevin23
post Jun 18 2019, 10:02 AM

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There is simply no reason to buy subsale unless u are buying to invest and with lots of ready cash. And if the house got any issues also u cant really complain to anyone.

Just buy new la. Easy, no need come up with that much cash and if got problems at least got someone to complain.
kevin23
post Jun 18 2019, 10:03 AM

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QUOTE(icemanfx @ Jun 17 2019, 01:25 PM)
If developers units are still available. What chance flippers have?
*
Flippers all sapu the best units la. Even dev still got unit but left those not so desirable ones.

Flippers can flip cuz they have the best units.
kevin23
post Jun 18 2019, 10:13 AM

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QUOTE(Genji Shimada @ Jun 17 2019, 06:22 PM)
Wouldn't you guys scare about buying a new unit but in the end, the unit has lot of problems, like water leaking, wall or floor cracking, the final outcome is not the same as expected and etc?at least buying a second hand house can have a look on the actual property first
*
If everything scared then no need to do anything better.

These kinda problems are all fixable issues. Every property has their issues. At least got issues u can complain to dev and F them.

U buy subsale, u cant detect all those hidden issues. After u buy only u found out got that issue. Then u have to fix it urself.
Jszeon
post Jun 18 2019, 11:33 AM

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All Lowyat Property Guru, if a house does not have any electricity or water supply, is that consider VP?
TSsoules83
post Jun 18 2019, 01:11 PM

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QUOTE(kevin23 @ Jun 18 2019, 10:13 AM)
If everything scared then no need to do anything better.

These kinda problems are all fixable issues. Every property has their issues. At least got issues u can complain to dev and F them.

U buy subsale, u cant detect all those hidden issues. After u buy only u found out got that issue. Then u have to fix it urself.
*
nowadays new unit also provide free furniture too! Its like all in one.
aspartame
post Jun 18 2019, 02:06 PM

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QUOTE(kevin23 @ Jun 18 2019, 10:02 AM)
There is simply no reason to buy subsale unless u are buying to invest  and with lots of ready cash. And if the house got any issues also u cant really complain to anyone.

Just buy new la. Easy, no need come up with that much cash and if got problems at least got someone to complain.
*
Ha ha...u r the exact kind of water fish developers are capitalising on...

No cash... loan big big.. get cash back .. spend them all... upon vp cannot sustain even 2 months installments and up lorry ....

In fact almost all the auctions are these kind of overpriced new vp props bought from developers with rebates...

I think if u take out the rebates... buyers did not lose that much... but they spent the rebates !!! Now kpkb
TSsoules83
post Jun 18 2019, 02:59 PM

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QUOTE(aspartame @ Jun 18 2019, 02:06 PM)
Ha ha...u r the exact kind of water fish developers are capitalising on...

No cash... loan big big.. get cash back .. spend them all... upon vp cannot sustain even 2 months installments and up lorry ....

In fact almost all the auctions are these kind of overpriced new vp props bought from developers with rebates...

I think if u take out the rebates... buyers did not lose that much... but they spent the rebates !!! Now kpkb
*
flipper also do the same tactics.... biggrin.gif Buy from developer with loan big big then sell it off to water fish like us to gain capital..

This post has been edited by soules83: Jun 18 2019, 03:00 PM
Bjorn1688
post Jun 18 2019, 03:13 PM

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QUOTE(soules83 @ Jun 18 2019, 08:15 AM)
problem is sub property don't give you enough time to inspect the unit and sub sale unit its like after someone wear the cloth and sell it to you, for new developer unit...you may knock the wall to check until u syok.
*
Excuses.
As a buyer all the cards are in your hand, if you want to visit 10 times the agent or the owner will comply if they are interested in the sale.
I can guarantee you no developer will let you into the unit you want to buy unless that place is "tak laku"

P/S: Which new prop are you selling? biggrin.gif
kevin23
post Jun 18 2019, 03:18 PM

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QUOTE(aspartame @ Jun 18 2019, 02:06 PM)
Ha ha...u r the exact kind of water fish developers are capitalising on...

No cash... loan big big.. get cash back .. spend them all... upon vp cannot sustain even 2 months installments and up lorry ....

In fact almost all the auctions are these kind of overpriced new vp props bought from developers with rebates...

I think if u take out the rebates... buyers did not lose that much... but they spent the rebates !!! Now kpkb
*
Everything u do, must use brain abit. Not sure where u get ur info from. Cannot even sustain 2 months? Then wtf u even sign the loan agreement? Common sense.

Nvm. Lazy to argue with u.
TSsoules83
post Jun 18 2019, 04:13 PM

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QUOTE(Bjorn1688 @ Jun 18 2019, 03:13 PM)
Excuses.
As a buyer all the cards are in your hand, if you want to visit 10 times the agent or the owner will comply if they are interested in the sale.
I can guarantee you no developer will let you into the unit you want to buy unless that place is "tak laku"

P/S: Which new prop are you selling? biggrin.gif
*
"As a buyer all the cards are in your hand, if you want to visit 10 times the agent or the owner will comply if they are interested in the sale" <---- you serious? You never bought any subsale house before do you? You think their time is cheap?
BukitKing222
post Jun 18 2019, 04:23 PM

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Walau EH....what kind of thread is this?

Idiot to the max..
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post Jun 18 2019, 04:26 PM

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Returns Returns Returns....................................
cc980024
post Jun 18 2019, 04:53 PM

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So far I never buy from subsale. I am very particular on the history (the energy of the house). As I have seen some fun example, one of it where my friend bought a subsale with history of 2 past owners who didn't get to stay in the house, due to being call for duty overseas. And this friend of mine, have been waiting response from the embassy to get her migration approval for nearly 5years.. thinking it fails.. she bought this subsale .. barely few months stay .. she move to Canada, again put out the house for sale. The house keep having owners (that end up settle down in overseas).. no permanent resident at all.

And my uncle's house say to produce baby boys only. For 3 generation, never see any baby girl around. I was 1 of the tenant of this house before too. tongue.gif

So, good energy of subsale is a luck, but unfortunately we hardly know it all. If buying subsale for own stay, must investigate why the owner selling it. For me, ppl sell house due to debt, due to marriage divorce.. is a no-no.

Since $ is also a consideration, and this "old house energy" thingy, I so far only buy from new launch.
TSsoules83
post Jun 18 2019, 04:56 PM

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QUOTE(cc980024 @ Jun 18 2019, 04:53 PM)
So far I never buy from subsale. I am very particular on the history (the energy of the house). As I have seen some fun example, one of it where my friend bought a subsale with history of 2 past owners who didn't get to stay in the house, due to being call for duty overseas. And this friend of mine, have been waiting response from the embassy to get her migration approval for nearly 5years.. thinking it fails.. she bought this subsale .. barely few months stay .. she move to Canada, again put out the house for sale. The house keep having owners (that end up settle down in overseas).. no permanent resident at all.

And my uncle's house say to produce baby boys only. For 3 generation, never see any baby girl around. I was 1 of the tenant of this house before too. tongue.gif

So, good energy of subsale is a luck, but unfortunately we hardly know it all. If buying subsale for own stay, must investigate why the owner selling it. For me, ppl sell house due to debt, due to marriage divorce.. is a no-no.

Since $ is also a consideration, and this "old house energy" thingy, I so far only buy from new launch.
*
not bad, maybe I should go rent there. I want to work oversea.
zcalex
post Jun 18 2019, 05:07 PM

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QUOTE(cc980024 @ Jun 18 2019, 04:53 PM)
So far I never buy from subsale. I am very particular on the history (the energy of the house). As I have seen some fun example, one of it where my friend bought a subsale with history of 2 past owners who didn't get to stay in the house, due to being call for duty overseas. And this friend of mine, have been waiting response from the embassy to get her migration approval for nearly 5years.. thinking it fails.. she bought this subsale .. barely few months stay .. she move to Canada, again put out the house for sale. The house keep having owners (that end up settle down in overseas).. no permanent resident at all.

And my uncle's house say to produce baby boys only. For 3 generation, never see any baby girl around. I was 1 of the tenant of this house before too. tongue.gif

So, good energy of subsale is a luck, but unfortunately we hardly know it all. If buying subsale for own stay, must investigate why the owner selling it. For me, ppl sell house due to debt, due to marriage divorce.. is a no-no.

Since $ is also a consideration, and this "old house energy" thingy, I so far only buy from new launch.
*
i dont too believe in the unit direction or facing, it is very surface.
sometimes it is caused by certain renovation done by previous owners. and the reno could be blocking the so called energy.
that why i do believe feng shui important in any own stay houses.
if the property is really in good location and u dont want to miss it, can bring feng shui sifu to view the house first before buying and follow to what they suggest.
pilotHans
post Jun 18 2019, 05:10 PM

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QUOTE(ManutdGiggs @ May 2 2019, 11:44 AM)
Rent an unit to stay for 3mths then u know it. Dun hearsay.
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QUOTE(cc980024 @ Jun 18 2019, 04:53 PM)
So far I never buy from subsale. I am very particular on the history (the energy of the house). As I have seen some fun example, one of it where my friend bought a subsale with history of 2 past owners who didn't get to stay in the house, due to being call for duty overseas. And this friend of mine, have been waiting response from the embassy to get her migration approval for nearly 5years.. thinking it fails.. she bought this subsale .. barely few months stay .. she move to Canada, again put out the house for sale. The house keep having owners (that end up settle down in overseas).. no permanent resident at all.

And my uncle's house say to produce baby boys only. For 3 generation, never see any baby girl around. I was 1 of the tenant of this house before too. tongue.gif

So, good energy of subsale is a luck, but unfortunately we hardly know it all. If buying subsale for own stay, must investigate why the owner selling it. For me, ppl sell house due to debt, due to marriage divorce.. is a no-no.

Since $ is also a consideration, and this "old house energy" thingy, I so far only buy from new launch.
*
so must pantang larang + constrained by fungshui etc rclxub.gif sweat.gif but again, different peeps, diff preferences flex.gif
Bjorn1688
post Jun 19 2019, 01:34 AM

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QUOTE(soules83 @ Jun 18 2019, 04:13 PM)
"As a buyer all the cards are in your hand, if you want to visit 10 times the agent or the owner will comply if they are interested in the sale" <---- you serious? You never bought any subsale house before do you? You think their time is cheap?
*
Last 16 years bought 39 subsales in various shapes and forms either to buy, fix and flip or buy and flip or buy to rent either on my own or as a partner to it.

Never had a single owner or agent that said we could not do a thorough inspection.

These days they all the more are willing to let you check all you want as they mostly know you are a serious buyer, only time it becomes problematic is where the unit is tenanted, sometimes you may get a hostile tenant.

How many subsales have you bought since it seems everything about it is a mountain of a task?

QUOTE(cc980024 @ Jun 18 2019, 04:53 PM)
So far I never buy from subsale. I am very particular on the history (the energy of the house). As I have seen some fun example, one of it where my friend bought a subsale with history of 2 past owners who didn't get to stay in the house, due to being call for duty overseas. And this friend of mine, have been waiting response from the embassy to get her migration approval for nearly 5years.. thinking it fails.. she bought this subsale .. barely few months stay .. she move to Canada, again put out the house for sale. The house keep having owners (that end up settle down in overseas).. no permanent resident at all.

And my uncle's house say to produce baby boys only. For 3 generation, never see any baby girl around. I was 1 of the tenant of this house before too. tongue.gif

So, good energy of subsale is a luck, but unfortunately we hardly know it all. If buying subsale for own stay, must investigate why the owner selling it. For me, ppl sell house due to debt, due to marriage divorce.. is a no-no.

Since $ is also a consideration, and this "old house energy" thingy, I so far only buy from new launch.
*
Interesting on the house and babies. I have a studio bought new that seems everyone that's lived in it have become parents. 1st my missus and me moved in on VP and lived in it for 3 months. 2 months later found out she was 3 months pregnant, best part? Was told by several that she could not conceive.

1st tenant, this Australian girl, she lived in it for 6 months and then found herself pregnant

2nd tenant, an American woman in her early 40s, not sure how anyone could bring himself to get busy f-ing her but holy crap 4 months into the tenancy she became pregnant and recently had a baby.

One subsale house I co-own, we bought it through an estate sale. Children fighting over late father's property. I wanted it purely because it was a property bearing #8 as the lot number. I knew the old man died in the house. When I called for a monk to remove the altars, shrines and statues out of the blue he mentioned to me don't ever get rid of the pond at the rear corner of the house and he said if I had the funds to renovate it to have a jar that faced the direction of the house.

2 set of tenants and both did very well in their career and the current tenant also became a big shot after living in that house.

Unfortunately this house has also become a bit of a burden, afraid to sell it off because the 5 children that eagerly forced the sale of the house from being very well off are now mostly broke or jobless. Its the only landed house I own that I actually hire a gardener and someone to tend to the pond

QUOTE(pilotHans @ Jun 18 2019, 05:10 PM)
so must pantang larang + constrained by fungshui etc  rclxub.gif  sweat.gif  but again, different peeps, diff preferences  flex.gif
*
Depends on whether you want to believe in it or not. But usually for every negative energy there are ways and means to neutralise or counter it.
icemanfx
post Jun 19 2019, 02:23 AM

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QUOTE(cc980024 @ Jun 18 2019, 04:53 PM)
So far I never buy from subsale. I am very particular on the history (the energy of the house). As I have seen some fun example, one of it where my friend bought a subsale with history of 2 past owners who didn't get to stay in the house, due to being call for duty overseas. And this friend of mine, have been waiting response from the embassy to get her migration approval for nearly 5years.. thinking it fails.. she bought this subsale .. barely few months stay .. she move to Canada, again put out the house for sale. The house keep having owners (that end up settle down in overseas).. no permanent resident at all.

And my uncle's house say to produce baby boys only. For 3 generation, never see any baby girl around. I was 1 of the tenant of this house before too. tongue.gif

So, good energy of subsale is a luck, but unfortunately we hardly know it all. If buying subsale for own stay, must investigate why the owner selling it. For me, ppl sell house due to debt, due to marriage divorce.. is a no-no.

Since $ is also a consideration, and this "old house energy" thingy, I so far only buy from new launch.
*
Statistically, chance for a new/virgin home to have a particular energy/phenomenon is the same with subsale. The only difference is the new/virgin home occupier experienced without knowing it.

This post has been edited by icemanfx: Jun 19 2019, 02:24 AM
ManutdGiggs
post Jun 19 2019, 05:35 AM

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QUOTE(icemanfx @ Jun 19 2019, 02:23 AM)
Statistically, chance for a new/virgin home to have a particular energy/phenomenon is the same with subsale. The only difference is the new/virgin home occupier experienced without knowing it.
*
Wow got statistic wo. Can share if dun mind???
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post Jun 19 2019, 05:40 AM

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QUOTE(soules83 @ Jun 18 2019, 02:59 PM)
flipper also do the same tactics.... biggrin.gif Buy from developer with loan big big then sell it off to water fish like us to gain capital..
*
Subsales has mv n or agreed price boss.

Eg. Recently acquired sthg in vely ong area. Unit is 16yo today. Owner bot 600k mv bout 1.2m but agreed at 8xxk with some vely gd tnc. I see no reason subsales buyers r water fishes unless they wanna b one la.
icemanfx
post Jun 19 2019, 07:12 AM

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QUOTE(ManutdGiggs @ Jun 19 2019, 05:35 AM)
Wow got statistic wo. Can share if dun mind???
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A narrow vision person can't see outside his view.

QUOTE(ManutdGiggs @ Jun 19 2019, 05:40 AM)
Subsales has mv n or agreed price boss.

Eg. Recently acquired sthg in vely ong area. Unit is 16yo today. Owner bot 600k mv bout 1.2m but agreed at 8xxk with some vely gd tnc. I see no reason subsales buyers r water fishes unless they wanna b one la.
*
A good example of property is a zero sum game. Vendor's gain is buyer's loss, and vv.

The paradox is if the buyer KNOW what to buy what about the vendor?
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post Jun 19 2019, 07:23 AM

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QUOTE(icemanfx @ Jun 19 2019, 07:12 AM)
A narrow vision person can't see outside his view.
A good example of property is a zero sum game. Vendor's gain is buyer's loss, and vv.

The paradox is if the buyer KNOW what to buy what about the vendor?
*
It's proven again u r the best n onli 1 in the universe. No wonder the blood u hav is knee deep 😱😱😱

Memang salute πŸ‡²πŸ‡ΎπŸ‡²πŸ‡ΎπŸ‡²πŸ‡Ύ
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post Jun 19 2019, 07:26 AM

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QUOTE(icemanfx @ Jun 19 2019, 07:12 AM)
A narrow vision person can't see outside his view.
A good example of property is a zero sum game. Vendor's gain is buyer's loss, and vv.

The paradox is if the buyer KNOW what to buy what about the vendor?
*
Vendor here means developer, seller or agent?
icemanfx
post Jun 19 2019, 08:48 AM

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QUOTE(ManutdGiggs @ Jun 19 2019, 07:23 AM)
It's proven again u r the best n onli 1 in the universe. No wonder the blood u hav is knee deep 😱😱😱

Memang salute πŸ‡²πŸ‡ΎπŸ‡²πŸ‡ΎπŸ‡²πŸ‡Ύ
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In all investment assets, there is a period to buy, hold, sell and abstain. Those blinded by greed don't know when to exit.
ManutdGiggs
post Jun 19 2019, 09:23 AM

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QUOTE(icemanfx @ Jun 19 2019, 08:48 AM)
In all investment assets, there is a period to buy, hold, sell and abstain. Those blinded by greed don't know when to exit.
*
Didnt I repeat many times tat timing is important???

On top the korek loc for korek product at korek value oso important kot??? Anw I alwiz wrong wan so u r stil the best of the best πŸ‘πŸ‘πŸ‘
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post Jun 19 2019, 10:15 AM

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QUOTE(afoka @ Jun 12 2019, 06:33 PM)
Mainly cause..

1. Huge discount ( bumi discount, early bird discount, CSRU, etc)
Jacked up price then give discount.. same same
2. NO 10% DP
Even if pay 10%, loan 90%... that is already crazy leverage.. if cannot even afford 10%.. should not buy
3. Free legal and MOT
Refer to 1. Nothing is free. Price already included ...
4. Those flipper and insider buyer can go die... Investor also
So once u bought already , you can also go die?
*
TSsoules83
post Jun 19 2019, 10:40 AM

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QUOTE(Bjorn1688 @ Jun 19 2019, 01:34 AM)
Last 16 years bought 39 subsales in various shapes and forms either to buy, fix and flip or buy and flip or buy to rent either on my own or as a partner to it.

Never had a single owner or agent that said we could not do a thorough inspection.

These days they all the more are willing to let you check all you want as they mostly know you are a serious buyer, only time it becomes problematic is where the unit is tenanted, sometimes you may get a hostile tenant.

How many subsales have you bought since it seems everything about it is a mountain of a task?
Interesting on the house and babies. I have a studio bought new that seems everyone that's lived in it have become parents. 1st my missus and me moved in on VP and lived in it for 3 months. 2 months later found out she was 3 months pregnant, best part? Was told by several that she could not conceive.

1st tenant, this Australian girl, she lived in it for 6 months and then found herself pregnant

2nd tenant, an American woman in her early 40s, not sure how anyone could bring himself to get busy f-ing her but holy crap 4 months into the tenancy she became pregnant and recently had a baby.

One subsale house I co-own, we bought it through an estate sale. Children fighting over late father's property. I wanted it purely because it was a property bearing #8 as the lot number. I knew the old man died in the house. When I called for a monk to remove the altars, shrines and statues out of the blue he mentioned to me don't ever get rid of the pond at the rear corner of the house and he said if I had the funds to renovate it to have a jar that faced the direction of the house.

2 set of tenants and both did very well in their career and the current tenant also became a big shot after living in that house.

Unfortunately this house has also become a bit of a burden, afraid to sell it off because the 5 children that eagerly forced the sale of the house from being very well off are now mostly broke or jobless. Its the  only landed house I own that I actually hire a gardener and someone to tend to the pond
Depends on whether you want to believe in it or not. But usually for every negative energy there are ways and means to neutralise or counter it.
*
so far...3 house. 2 unit got a lot of prob.
cc980024
post Jun 19 2019, 10:51 AM

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QUOTE(zcalex @ Jun 18 2019, 05:07 PM)
i dont too believe in the unit direction or facing, it is very surface.
sometimes it is caused by certain renovation done by previous owners. and the reno could be blocking the so called energy.
that why i do believe feng shui important in any own stay houses.
if the property is really in good location and u dont want to miss it, can bring feng shui sifu to view the house first before buying and follow to what they suggest.
*
I believe fengshui but not willing spend on it, that's why will only look at the history of the house to determine if it is a "can buy". Without fengshui, originally some subsale house do carry certain energy (positive/negative). It just not me, to buy a house with negative energy and pay fengshui to neutralize it.
cc980024
post Jun 19 2019, 10:55 AM

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QUOTE(Bjorn1688 @ Jun 19 2019, 01:34 AM)
One subsale house I co-own, we bought it through an estate sale. Children fighting over late father's property. I wanted it purely because it was a property bearing #8 as the lot number. I knew the old man died in the house. When I called for a monk to remove the altars, shrines and statues out of the blue he mentioned to me don't ever get rid of the pond at the rear corner of the house and he said if I had the funds to renovate it to have a jar that faced the direction of the house.

2 set of tenants and both did very well in their career and the current tenant also became a big shot after living in that house.

Unfortunately this house has also become a bit of a burden, afraid to sell it off because the 5 children that eagerly forced the sale of the house from being very well off are now mostly broke or jobless. Its the  only landed house I own that I actually hire a gardener and someone to tend to the pond
Depends on whether you want to believe in it or not. But usually for every negative energy there are ways and means to neutralise or counter it.
*
Probably the tenant who stays there "eat" up their qi of fortune.. hahaha.. tats y now the owners from being well off to mostly broke. tongue.gif
My guess.
icemanfx
post Jun 19 2019, 11:08 AM

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QUOTE(ManutdGiggs @ Jun 19 2019, 09:23 AM)
Didnt I repeat many times tat timing is important???

On top the korek loc for korek product at korek value oso important kot??? Anw I alwiz wrong wan so u r stil the best of the best πŸ‘πŸ‘πŸ‘
*
All the while, you have been advocating anytime is a good time to bbb/uuu.

This post has been edited by icemanfx: Jun 19 2019, 11:10 AM
icemanfx
post Jun 19 2019, 11:16 AM

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QUOTE(aspartame @ Jun 19 2019, 10:15 AM)

*
Until recently, anyone who pointed this up was shot left, right, center; name calling by uuu/BBB.
party
post Jun 19 2019, 11:49 AM

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QUOTE(cc980024 @ Jun 19 2019, 10:55 AM)
Probably the tenant who stays there "eat" up their qi of fortune.. hahaha.. tats y now the owners from being well off to mostly broke. tongue.gif
My guess.
*
No la..he meant the sons that sell that house to him now all broke. He sked if sell later same ending.
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post Jun 19 2019, 11:57 AM

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QUOTE(soules83 @ Jun 18 2019, 08:15 AM)
problem is sub property don't give you enough time to inspect the unit and sub sale unit its like after someone wear the cloth and sell it to you, for new developer unit...you may knock the wall to check until u syok.
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QUOTE(soules83 @ Jun 18 2019, 04:13 PM)
"As a buyer all the cards are in your hand, if you want to visit 10 times the agent or the owner will comply if they are interested in the sale" <---- you serious? You never bought any subsale house before do you? You think their time is cheap?
*
Not true, and Bjorn1688 is right. I have visited too many subsale units, most of which are more than twice (those that I am interested in) - Bandar Kinrara (Agents are usually snobs), Putra Heights, Bukit Jelutong, and Bandar Rimbayu. As a matter of fact, they are more than welcome for you to visit their place, the more times, the better cause they will have the assumption that you are interested in that place. TBH, if your place is advertised for more than 2 months and no one has been showing interest, I bet you will entertain anyone who wishes to see the house no matter how many times
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post Jun 19 2019, 01:57 PM

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QUOTE(icemanfx @ Jun 19 2019, 11:08 AM)
All the while, you have been advocating anytime is a good time to bbb/uuu.
*
Comprehension is so important

Dun make the wrong move my lord πŸ™πŸ™πŸ™
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post Jun 19 2019, 01:59 PM

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i duno, i think both also the same, buy or rent. have pro and con.. so both also good option and bad option..
Bjorn1688
post Jun 19 2019, 02:12 PM

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QUOTE(soules83 @ Jun 19 2019, 10:40 AM)
so far...3 house. 2 unit got a lot of prob.
*
What are the nature of the "lot of prob" for those 2 units?

QUOTE(cc980024 @ Jun 19 2019, 10:55 AM)
Probably the tenant who stays there "eat" up their qi of fortune.. hahaha.. tats y now the owners from being well off to mostly broke. tongue.gif
My guess.
*
Oh, I meant the original owner that died in the house smile.gif

Thus far, the property has delivered more than what I had expected.

QUOTE(icemanfx @ Jun 19 2019, 11:08 AM)
All the while, you have been advocating anytime is a good time to bbb/uuu.
*
Selective reader aren't ya?

QUOTE(party @ Jun 19 2019, 11:49 AM)
No la..he meant the sons that sell that house to him now all broke. He sked if sell later same ending.
*
Yes am scared to sell it.


QUOTE(Harry_Bobinski @ Jun 19 2019, 11:57 AM)
Not true, and Bjorn1688 is right. I have visited too many subsale units, most of which are more than twice (those that I am interested in) - Bandar Kinrara (Agents are usually snobs), Putra Heights, Bukit Jelutong, and Bandar Rimbayu. As a matter of fact, they are more than welcome for you to visit their place, the more times, the better cause they will have the assumption that you are interested in that place. TBH, if your place is advertised for more than 2 months and no one has been showing interest, I bet you will entertain anyone who wishes to see the house  no matter how many times
*
My most recent subsale, owner gave me the key and told me to go check all I wanted on my own.

I've had situations where the tenant did not want to allow entry and I simply told the agent to inform the owner can't inspect so not buying. Usually within the hour I will get a phone call telling me when I could perform an inspection and to be as thorough as needed. Especially the case where they been trying to sell the house for awhile.
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post Jun 19 2019, 03:03 PM

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QUOTE(Bjorn1688 @ Jun 19 2019, 02:12 PM)
What are the nature of the "lot of prob" for those 2 units?
Oh, I meant the original owner that died in the house smile.gif

Thus far, the property has delivered more than what I had expected.
Selective reader aren't ya?
Yes am scared to sell it.
My most recent subsale, owner gave me the key and told me to go check all I wanted on my own.

I've had situations where the tenant did not want to allow entry and I simply told the agent to inform the owner can't inspect so not buying. Usually within the hour I will get a phone call telling me when I could perform an inspection and to be as thorough as needed. Especially the case where they been trying to sell the house for awhile.
*
People with narrow vision are more likely to be selective reader.
TSsoules83
post Jun 19 2019, 03:22 PM

Hohoho I dunno
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QUOTE(Harry_Bobinski @ Jun 19 2019, 11:57 AM)
Not true, and Bjorn1688 is right. I have visited too many subsale units, most of which are more than twice (those that I am interested in) - Bandar Kinrara (Agents are usually snobs), Putra Heights, Bukit Jelutong, and Bandar Rimbayu. As a matter of fact, they are more than welcome for you to visit their place, the more times, the better cause they will have the assumption that you are interested in that place. TBH, if your place is advertised for more than 2 months and no one has been showing interest, I bet you will entertain anyone who wishes to see the houseΒ  no matter how many times
*
But the problem is inspection is not 1 hrs or 2 hrs stuff. it could take the whole week! blink.gif Some even months! For example, if pipe bust, can only detected after you re enable the water supply!

This post has been edited by soules83: Jun 19 2019, 03:26 PM
TSsoules83
post Jun 19 2019, 03:25 PM

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QUOTE(Bjorn1688 @ Jun 19 2019, 02:12 PM)
What are the nature of the "lot of prob" for those 2 units?
Oh, I meant the original owner that died in the house smile.gif

Thus far, the property has delivered more than what I had expected.
Selective reader aren't ya?
Yes am scared to sell it.
My most recent subsale, owner gave me the key and told me to go check all I wanted on my own.

I've had situations where the tenant did not want to allow entry and I simply told the agent to inform the owner can't inspect so not buying. Usually within the hour I will get a phone call telling me when I could perform an inspection and to be as thorough as needed. Especially the case where they been trying to sell the house for awhile.
*
One is for self stay another 1 is rent to ppl. Both have a lot of hidden issue, like there are leak from the roof (the owner repaint it to make it look nice, but there are roof leak). And there are one unit with electric shortcircuit case, burn out a few line. That one spent a lot to replace the wire. Another worse one is burst pipe, only unit you go enable the water supply baru know there is a critical leak, one 1 month RM200 water bill. And more...

This post has been edited by soules83: Jun 19 2019, 03:27 PM
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post Jun 19 2019, 04:16 PM

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QUOTE(soules83 @ Jun 19 2019, 03:22 PM)
But the problem is inspection is not 1 hrs or 2 hrs stuff. it could take the whole week! blink.gif Some even months! For example, if pipe bust, can only detected after you re enable the water supply!
*
Even better when you are able to rectify it before you finalize the purchase. As forementioned, owners are always more than willing to let you inspect the house as much as you want cause they themselves want to sell off the house as soon as they can (with a reasonable price, of course).
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post Jun 19 2019, 04:41 PM

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If buying with the intention to rent it out, subsale could be better option than new 1. Coz subsale usually at better location and able to carry higher rental. My sister bought a subsale with condition to continue renting it out to the current tenant (that time). As she was renting a house in the same neighbourhood, so she don't mind as the rental she pay is lower than the rental she collected.
TSsoules83
post Jun 19 2019, 04:48 PM

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QUOTE(cc980024 @ Jun 19 2019, 04:41 PM)
If buying with the intention to rent it out, subsale could be better option than new 1. Coz subsale usually at better location and able to carry higher rental. My sister bought a subsale with condition to continue renting it out to the current tenant (that time). As she was renting a house in the same neighbourhood, so she don't mind as the rental she pay is lower than the rental she collected.
*
where? biggrin.gif I never see any subsale can rental with rent > installation.
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post Jun 19 2019, 10:34 PM

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QUOTE(soules83 @ Jun 19 2019, 03:25 PM)
One is for self stay another 1 is rent to ppl. Both have a lot of hidden issue, like there are leak from the roof (the owner repaint it to make it look nice, but there are roof leak). And there are one unit with electric shortcircuit case, burn out a few line. That one spent a lot to replace the wire. Another worse one is burst pipe, only unit you go enable the water supply baru know there is a critical leak, one 1 month RM200 water bill. And more...
*
All those problems mentioned could have been avoided or at least you been made aware off had you brought your trusted renovation contractor or paid for a home inspection service.

These days they don't even need to climb, they just place a drone with a UV light and camera and 99% of roof leaks can be detected within 5 minutes.

Am surprised you did not place any clauses in the SPA with regard to the pipes since you could not test it.
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post Jun 20 2019, 09:28 AM

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QUOTE(se800i @ Jun 17 2019, 08:05 AM)
progressive interests is nothing la... just a few hundreds to a 1K ++
the actual instalment is the killing part...
*
It is for me.
When I'm paying close to 1k for almost a year, while other unit still paying less than 500. But all will vp at same time.

Plus, I'm still renting. So it's already like paying full installment already if i total it up. biggrin.gif
cc980024
post Jun 20 2019, 09:40 AM

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QUOTE(soules83 @ Jun 19 2019, 04:48 PM)
where?  biggrin.gif  I never see any subsale can rental with rent > installation.
*
No la. What I meant was, the rental she collected from her subsale house (with seller's condition to keep the existing tenant) is higher than the rental she paying for the house she staying, which is within the same neighbourhood (1 street away). Not rental more than instalment.
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post Jun 20 2019, 10:05 AM

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QUOTE(Rudd @ Jun 20 2019, 09:28 AM)
It is for me.
When I'm paying close to 1k for almost a year, while other unit still paying less than 500. But all will vp at same time.

Plus, I'm still renting. So it's already like paying full installment already if i total it up. biggrin.gif
*
1st house is like that, gotta suffer a bit as you have to pay for rental at the same time before your own house is ready. Years later, when you done pay off your 1st house, having extra cash in hand plus much higher salary, 2nd and 3rd house is easy to come by. Believe me. biggrin.gif

No longer behave like old days 1st house. Now I am throwing in as much cash I can, since the day bank release the 1st payment. With this, won't feel the pinch of just serving interest without benefit, as this is the best opportunity to press down the capital loan while the interest charge is still low (before full loan is release). But heard that not all loan can behave this way.
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post Jun 20 2019, 10:14 AM

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QUOTE(cc980024 @ Jun 20 2019, 10:05 AM)
1st house is like that, gotta suffer a bit as you have to pay for rental at the same time before your own house is ready. Years later, when you done pay off your 1st house, having extra cash in hand plus much higher salary, 2nd and 3rd house is easy to come by. Believe me. biggrin.gif

No longer behave like old days 1st house. Now I am throwing in as much cash I can, since the day bank release the 1st payment. With this, won't feel the pinch of just serving interest without benefit, as this is the best opportunity to press down the capital loan while the interest charge is still low (before full loan is release). But heard that not all loan can behave this way.
*
To most first time buyers who bought in this few years, by the time first home is paid off will be after 30 years.

This post has been edited by icemanfx: Jun 20 2019, 10:15 AM
TSsoules83
post Jun 20 2019, 01:11 PM

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QUOTE(Bjorn1688 @ Jun 19 2019, 10:34 PM)
All those problems mentioned could have been avoided or at least you been made aware off had you brought your trusted renovation contractor or paid for a home inspection service.

These days they don't even need to climb, they just place a drone with a UV light and camera and 99% of roof leaks can be detected within 5 minutes.

Am surprised you did not place any clauses in the SPA with regard to the pipes since you could not test it.
*
"Am surprised you did not place any clauses in the SPA" <---- we can list the repair cost in SPA and ask the owner to paid after detect it?
Bjorn1688
post Jun 21 2019, 01:15 AM

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QUOTE(soules83 @ Jun 20 2019, 01:11 PM)
"Am surprised you did not place any clauses in the SPA" <----  we can list the repair cost in SPA and ask the owner to paid after detect it?
*
I've had buyers ask for such clause yes. Especially where the selling point of the house was it had new high quality plumbing, gave it a limited warranty for up to a year.

I've also had a subsale that I bought, interior had new paint the new paint was hiding a worn water proofing at the 2 ensuite bedrooms. I suspected something was amiss, agent did not want to admit to it, said the owner wanted to make the place more presentable. Even the owner said guarantee no leaking issues. I told them since they said so there would be no issue with them placing a clause in the SPA. They said no problem, owner's actual words "My words are solid like oak" Must be China plantation oak.

How he tried to wriggle out of it :-

1) Said let's use the same lawyer. SPA did not have the guarantee, told them I will appoint my own lawyer.
2) My own lawyer drafted it, their lawyer tried amending it and the revision had 18 different clauses to repudiate that guarantee and tried to limit claims to RM50.
3) Agent was constantly harassing me on this matter telling me to drop that clause.
4) He said lets visit the property after a heavy rain, check no leaks then no need the clause.

We did then I told him very well then the walls from the outside doesn't leak, what about those on the inside, his face went white pale.

I told him if I showed him a water leak would he reduce the price by RM30k, he said I could not show any water leaks so go ahead. I brought out my Black & Decker pressure washer, blasted the master bedroom wall for 5 minutes, you could see water droplets coming into the master bedroom. I asked him and the agent what was that.

I then pointed out to him, how I knew all along that wall leaked, I pointed to him the 3 pieces of laminates by the bathroom wall and the skirting board was a different shade to the rest of the room which meant they were new.

In the end he agreed to a reduction of RM30k in exchange for the guarantee clause to be gone,
TSsoules83
post Jun 21 2019, 09:59 AM

Hohoho I dunno
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QUOTE(Bjorn1688 @ Jun 21 2019, 01:15 AM)
I've had buyers ask for such clause yes. Especially where the selling point of the house was it had new high quality plumbing, gave it a limited warranty for up to a year.

I've also had a subsale that I bought, interior had new paint the new paint was hiding a worn water proofing at the 2 ensuite bedrooms. I suspected something was amiss, agent did not want to admit to it, said the owner wanted to make the place more presentable. Even the owner said guarantee no leaking issues. I told them since they said so there would be no issue with them placing a clause in the SPA. They said no problem, owner's actual words "My words are solid like oak" Must be China plantation oak.

How he tried to wriggle out of it :-

1) Said let's use the same lawyer. SPA did not have the guarantee, told them I will appoint my own lawyer.
2) My own lawyer drafted it, their lawyer tried amending it and the revision had 18 different clauses to repudiate that guarantee and tried to limit claims to RM50.
3) Agent was constantly harassing me on this matter telling me to drop that clause.
4) He said lets visit the property after a heavy rain, check no leaks then no need the clause.

We did then I told him very well then the walls from the outside doesn't leak, what about those on the inside, his face went white pale.

I told him if I showed him a water leak would he reduce the price by RM30k, he said I could not show any water leaks so go ahead. I brought out my Black & Decker pressure washer, blasted the master bedroom wall for 5 minutes, you could see water droplets coming into the master bedroom. I asked him and the agent what was that.

I then pointed out to him, how I knew all along that wall leaked, I pointed to him the 3 pieces of laminates by the bathroom wall and the skirting board was a different shade to the rest of the room which meant they were new.

In the end he agreed to a reduction of RM30k in exchange for the guarantee clause to be gone,
*
So, it was after the subsale? Since you can water blast the house. And the warranty is added inside the SPA by lawyer?
corleone74
post Jun 21 2019, 10:53 AM

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QUOTE(cc980024 @ Jun 20 2019, 10:05 AM)
1st house is like that, gotta suffer a bit as you have to pay for rental at the same time before your own house is ready. Years later, when you done pay off your 1st house, having extra cash in hand plus much higher salary, 2nd and 3rd house is easy to come by. Believe me. biggrin.gif

No longer behave like old days 1st house. Now I am throwing in as much cash I can, since the day bank release the 1st payment. With this, won't feel the pinch of just serving interest without benefit, as this is the best opportunity to press down the capital loan while the interest charge is still low (before full loan is release). But heard that not all loan can behave this way.
*
When interest is low normally pipu don't pay down
corleone74
post Jun 21 2019, 10:54 AM

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QUOTE(icemanfx @ Jun 20 2019, 10:14 AM)
To most first time buyers who bought in this few years, by the time first home is paid off will be after 30 years.
*
Nah la some pipu 10 year pay off jor
corleone74
post Jun 21 2019, 11:01 AM

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QUOTE(Bjorn1688 @ Jun 21 2019, 01:15 AM)
I've had buyers ask for such clause yes. Especially where the selling point of the house was it had new high quality plumbing, gave it a limited warranty for up to a year.

I've also had a subsale that I bought, interior had new paint the new paint was hiding a worn water proofing at the 2 ensuite bedrooms. I suspected something was amiss, agent did not want to admit to it, said the owner wanted to make the place more presentable. Even the owner said guarantee no leaking issues. I told them since they said so there would be no issue with them placing a clause in the SPA. They said no problem, owner's actual words "My words are solid like oak" Must be China plantation oak.

How he tried to wriggle out of it :-

1) Said let's use the same lawyer. SPA did not have the guarantee, told them I will appoint my own lawyer.
2) My own lawyer drafted it, their lawyer tried amending it and the revision had 18 different clauses to repudiate that guarantee and tried to limit claims to RM50.
3) Agent was constantly harassing me on this matter telling me to drop that clause.
4) He said lets visit the property after a heavy rain, check no leaks then no need the clause.

We did then I told him very well then the walls from the outside doesn't leak, what about those on the inside, his face went white pale.

I told him if I showed him a water leak would he reduce the price by RM30k, he said I could not show any water leaks so go ahead. I brought out my Black & Decker pressure washer, blasted the master bedroom wall for 5 minutes, you could see water droplets coming into the master bedroom. I asked him and the agent what was that.

I then pointed out to him, how I knew all along that wall leaked, I pointed to him the 3 pieces of laminates by the bathroom wall and the skirting board was a different shade to the rest of the room which meant they were new.

In the end he agreed to a reduction of RM30k in exchange for the guarantee clause to be gone,
*
So the leak was from the master bath wall into the master room, right?
Finally how was the issue fixed after u bot over ah?
Re do whole bathroom waterproofing?
Or u did something like pressure grouting on the wall?
There are some water proof clear coat u can apply on the walls too.
Just wondering how the issue fixed. I have similar issue with one of my unit
Bjorn1688
post Jun 21 2019, 12:04 PM

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QUOTE(corleone74 @ Jun 21 2019, 11:01 AM)
So the leak was from the master bath wall into the master room, right?
Finally how was the issue fixed after u bot over ah?
Re do whole bathroom waterproofing?
Or u did something like pressure grouting on the wall?
There are some water proof clear coat u can apply on the walls too.
Just wondering how the issue fixed. I have similar issue with one of my unit
*
Yes, that was the leak, going from the master bath (where the bathtub met the wall) into the master room.

This was around 7 years ago, the condo was 15 years old then.

I redid the whole bathroom waterproofing as was renovating the bathrooms to remove the bathtub.

Pressure grouting on wall works but effectiveness isn't that good especially if the wall is a sand brick or AAC lightweight wall.

These days if you don't want to retile or renovate the entire bathroom the best solution is this one :-

https://www.lazada.com.my/products/galaxy-g...-s19224637.html

Many JMBs are using this solution these days.
icemanfx
post Jun 21 2019, 12:14 PM

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QUOTE(Bjorn1688 @ Jun 21 2019, 12:04 PM)
Yes, that was the leak, going from the master bath (where the bathtub met the wall) into the master room.

This was around 7 years ago, the condo was 15 years old then.

I redid the whole bathroom waterproofing as was renovating the bathrooms to remove the bathtub.

Pressure grouting on wall works but effectiveness isn't that good especially if the wall is a sand brick or AAC lightweight wall.

These days if you don't want to retile or renovate the entire bathroom the best solution is this one :-

https://www.lazada.com.my/products/galaxy-g...-s19224637.html

Many JMBs are using this solution these days.
*
As you mentioned early, need to apply once every 6 months. Is this considered long term solution?

TSsoules83
post Jun 21 2019, 12:21 PM

Hohoho I dunno
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QUOTE(Bjorn1688 @ Jun 21 2019, 12:04 PM)
Yes, that was the leak, going from the master bath (where the bathtub met the wall) into the master room.

This was around 7 years ago, the condo was 15 years old then.

I redid the whole bathroom waterproofing as was renovating the bathrooms to remove the bathtub.

Pressure grouting on wall works but effectiveness isn't that good especially if the wall is a sand brick or AAC lightweight wall.

These days if you don't want to retile or renovate the entire bathroom the best solution is this one :-

https://www.lazada.com.my/products/galaxy-g...-s19224637.html

Many JMBs are using this solution these days.
*
Another solution is epoxy refilling the floor...
Bjorn1688
post Jun 21 2019, 12:21 PM

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QUOTE(soules83 @ Jun 21 2019, 09:59 AM)
So, it was after the subsale? Since you can water blast the house. And the warranty is added inside the SPA by lawyer?
*
Yes the warranty needs to be added in by the SPA lawyer. Easiest if you get your own lawyer and not use the seller's lawyer. Your own lawyer will better look after your interest than one that's on the seller's payroll.

There was water supply to that unit. It was a unit I wanted very much as that place was popular with Hongkies and that particular unit was unit # A-16-8, I inspected and requested for that clause when paying the booking fees.

The blasting of water? That was done before the SPA. The unit had water to it.

I've not really come across any subsales where there was no water to the unit other than where it had been abandoned for several years, even then there are ways to do a leak test, some contractors these days can do a dye pressure test by disconnecting the pipe at the meter, the pipes are vacuumed out of any water then they feed the pipe using a pump with a certain fluorescent dye. After a few minutes they vacuum out all the dye and do a calculation on the amount of dye injected vs returned and you can have a fairly good idea on the integrity of the piping.

Cost around RM3k for a 30'x80' double storey semi-d, small price to pay considering the cost to install new pipes in such a house. sweat.gif sweat.gif sweat.gif
TSsoules83
post Jun 21 2019, 12:23 PM

Hohoho I dunno
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QUOTE(Bjorn1688 @ Jun 21 2019, 12:21 PM)
Yes the warranty needs to be added in by the SPA lawyer. Easiest if you get your own lawyer and not use the seller's lawyer. Your own lawyer will better look after your interest than one that's on the seller's payroll.

There was water supply to that unit. It was a unit I wanted very much as that place was popular with Hongkies and that particular unit was unit # A-16-8, I inspected and requested for that clause when paying the booking fees.

The blasting of water? That was done before the SPA. The unit had water to it.

I've not really come across any subsales where there was no water to the unit other than where it had been abandoned for several years, even then there are ways to do a leak test, some contractors these days can do a dye pressure test by disconnecting the pipe at the meter, the pipes are vacuumed out of any water then they feed the pipe using a pump with a certain fluorescent dye. After a few minutes they vacuum out all the dye and do a calculation on the amount of dye injected vs returned and you can have a fairly good idea on the integrity of the piping.

Cost around RM3k for a 30'x80' double storey semi-d, small price to pay considering the cost to install new pipes in such a house.Β  sweat.gifΒ  sweat.gifΒ  sweat.gif
*
The blasting of water? That was done before the SPA. The unit had water to it. <---- the unit also have electric? Walau...win liao biggrin.gif, so you bought a unit with stay in condition...

I heard the leak check not cheap, it cost over RM400

This post has been edited by soules83: Jun 21 2019, 12:25 PM
Kyotoarm
post Jun 21 2019, 03:41 PM

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less headache
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post Jun 21 2019, 04:36 PM

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I really like reading this thread, everyone is sharing +ve and constructive comments . Although sometimes out of topic a bit, but I still can relate.
Really not one liner spam like other threads rclxms.gif *Bookmarked

QUOTE(Jszeon @ Jun 18 2019, 11:33 AM)
All Lowyat Property Guru, if a house does not have any electricity or water supply, is that consider VP?
*

sadly, YES it happens sweat.gif you can straight complain to developer. Last time one of my condo, 1st 3 months no electricity ranting.gif
could collect keys in December, i collected early Jan. only in mid march there was electricity . argued for not paying the maintenance during that period but end up kene bayar gak sweat.gif
by May only I got a tenant. Was a Chinese businessman (t-shirt company) according to him. 1st month okay. 2nd month already gave me problems rclxub.gif thats another story for another day sweat.gif


QUOTE(Bjorn1688 @ Jun 19 2019, 01:34 AM)
Last 16 years bought 39 subsales in various shapes and forms either to buy, fix and flip or buy and flip or buy to rent either on my own or as a partner to it.

Never had a single owner or agent that said we could not do a thorough inspection.

These days they all the more are willing to let you check all you want as they mostly know you are a serious buyer, only time it becomes problematic is where the unit is tenanted, sometimes you may get a hostile tenant.

How many subsales have you bought since it seems everything about it is a mountain of a task?
Interesting on the house and babies. I have a studio bought new that seems everyone that's lived in it have become parents. 1st my missus and me moved in on VP and lived in it for 3 months. 2 months later found out she was 3 months pregnant, best part? Was told by several that she could not conceive.

1st tenant, this Australian girl, she lived in it for 6 months and then found herself pregnant

2nd tenant, an American woman in her early 40s, not sure how anyone could bring himself to get busy f-ing her but holy crap 4 months into the tenancy she became pregnant and recently had a baby.

One subsale house I co-own, we bought it through an estate sale. Children fighting over late father's property. I wanted it purely because it was a property bearing #8 as the lot number. I knew the old man died in the house. When I called for a monk to remove the altars, shrines and statues out of the blue he mentioned to me don't ever get rid of the pond at the rear corner of the house and he said if I had the funds to renovate it to have a jar that faced the direction of the house.

2 set of tenants and both did very well in their career and the current tenant also became a big shot after living in that house.

Unfortunately this house has also become a bit of a burden, afraid to sell it off because the 5 children that eagerly forced the sale of the house from being very well off are now mostly broke or jobless. Its the  only landed house I own that I actually hire a gardener and someone to tend to the pond
Depends on whether you want to believe in it or not. But usually for every negative energy there are ways and means to neutralise or counter it.
*

wow, love shack ........ clearly not suitable for unmarried couples brows.gif

39 x notworthy.gif


QUOTE(aspartame @ Jun 19 2019, 10:15 AM)

*
QUOTE(Harry_Bobinski @ Jun 19 2019, 11:57 AM)
Not true, and Bjorn1688 is right. I have visited too many subsale units, most of which are more than twice (those that I am interested in) - Bandar Kinrara (Agents are usually snobs), Putra Heights, Bukit Jelutong, and Bandar Rimbayu. As a matter of fact, they are more than welcome for you to visit their place, the more times, the better cause they will have the assumption that you are interested in that place. TBH, if your place is advertised for more than 2 months and no one has been showing interest, I bet you will entertain anyone who wishes to see the house  no matter how many times
*

thumbsup.gif


QUOTE(Bjorn1688 @ Jun 21 2019, 01:15 AM)
I've had buyers ask for such clause yes. Especially where the selling point of the house was it had new high quality plumbing, gave it a limited warranty for up to a year.

I've also had a subsale that I bought, interior had new paint the new paint was hiding a worn water proofing at the 2 ensuite bedrooms. I suspected something was amiss, agent did not want to admit to it, said the owner wanted to make the place more presentable. Even the owner said guarantee no leaking issues. I told them since they said so there would be no issue with them placing a clause in the SPA. They said no problem, owner's actual words "My words are solid like oak" Must be China plantation oak.

How he tried to wriggle out of it :-

1) Said let's use the same lawyer. SPA did not have the guarantee, told them I will appoint my own lawyer.
2) My own lawyer drafted it, their lawyer tried amending it and the revision had 18 different clauses to repudiate that guarantee and tried to limit claims to RM50.
3) Agent was constantly harassing me on this matter telling me to drop that clause.
4) He said lets visit the property after a heavy rain, check no leaks then no need the clause.

We did then I told him very well then the walls from the outside doesn't leak, what about those on the inside, his face went white pale.

I told him if I showed him a water leak would he reduce the price by RM30k, he said I could not show any water leaks so go ahead. I brought out my Black & Decker pressure washer, blasted the master bedroom wall for 5 minutes, you could see water droplets coming into the master bedroom. I asked him and the agent what was that.

I then pointed out to him, how I knew all along that wall leaked, I pointed to him the 3 pieces of laminates by the bathroom wall and the skirting board was a different shade to the rest of the room which meant they were new.

In the end he agreed to a reduction of RM30k in exchange for the guarantee clause to be gone,
*

one word : FUYOOOOOOOOO notworthy.gif
alvis5913
post Jun 21 2019, 06:46 PM

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I think most of the ppl dont like 2nd hand things, if we have a choice we want everything is new
RT-81 P
post Jun 21 2019, 09:22 PM

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New house got defect liability period and nicer design.
DesRed
post Jun 21 2019, 11:26 PM

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QUOTE(alvis5913 @ Jun 21 2019, 06:46 PM)
I think most of the ppl dont like 2nd hand things, if we have a choice we want everything is new
*
That's true.

But at least for subsale properties, one can still renovate it (if one have the cash, that is).
corleone74
post Jun 22 2019, 03:26 AM

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QUOTE(Bjorn1688 @ Jun 21 2019, 12:04 PM)
Yes, that was the leak, going from the master bath (where the bathtub met the wall) into the master room.

This was around 7 years ago, the condo was 15 years old then.

I redid the whole bathroom waterproofing as was renovating the bathrooms to remove the bathtub.

Pressure grouting on wall works but effectiveness isn't that good especially if the wall is a sand brick or AAC lightweight wall.

These days if you don't want to retile or renovate the entire bathroom the best solution is this one :-

https://www.lazada.com.my/products/galaxy-g...-s19224637.html

Many JMBs are using this solution these days.
*
Thank you for the details smile.gif
Bjorn1688
post Jun 23 2019, 02:49 AM

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QUOTE(soules83 @ Jun 21 2019, 12:23 PM)
The blasting of water? That was done before the SPA. The unit had water to it.  <---- the unit also have electric? Walau...win liao  , so you bought a unit with stay in condition...

I heard the leak check not cheap, it cost over RM400
*
Actually most of the subsales I had planned on buying had running water and electricity. Some even the owner / tenant were living in it.

The only ones that did not have both connected were those that had been vacant for many years, in which case I had already factored it in that the wires and plumbing would need attention regardless of what the owner/seller stated.

Leak testing certainly don't come cheap but considering the cost of the house and how much it can save you it is worth every sen.

QUOTE(Kyotoarm @ Jun 21 2019, 03:41 PM)
less headache
*
Not necessarily so, sometimes a new project may have a design flaw that you would only discover upon getting the keys, it may be built to off-specification and you will never know what hidden gremlins that would rear its head well after the VP.

QUOTE(pilotHans @ Jun 21 2019, 04:36 PM)
I really like reading this thread, everyone is sharing +ve and constructive comments . Although sometimes out of topic a bit, but I still can relate.
Really not one liner spam like other threads  rclxms.gif  *Bookmarked

sadly, YES it happens sweat.gif you can straight complain to developer. Last time one of my condo, 1st 3 months no electricity  ranting.gif 
could collect keys in December, i collected early Jan. only in mid march there was electricity . argued for not paying the maintenance during that period but end up kene bayar gak  sweat.gif 
by May only I got a tenant. Was a Chinese businessman (t-shirt company) according to him. 1st month okay. 2nd month already gave me problems  rclxub.gif  thats another story for another day sweat.gif 
wow, love shack ........  clearly not suitable for unmarried couples brows.gif 

*
I thought in order for there to be CCC everything had to be up and running. Was the bank aware of it that there was no electric or running water? Usually they would deem it that this isn't a completed projected.

QUOTE(RT-81 @ Jun 21 2019, 09:22 PM)
New house got defect liability period and nicer design.
*
That's only as good as the developer honouring it.

Nicer design? That depends many newer developments tend to be very stingy with usable space. Rooms tend to be tiny and you get that long and narrow layouts.


Bjorn1688
post Jun 23 2019, 02:53 AM

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QUOTE(icemanfx @ Jun 21 2019, 12:14 PM)
As you mentioned early, need to apply once every 6 months. Is this considered long term solution?
*
Its a solution.

A cheap one at that.

Long term? According to the manufacturer it will last more than 6 months on areas no one walks on or does not get cleaned by abrasive methods.

For the price, its not a bad idea.
TSsoules83
post Jun 23 2019, 09:15 PM

Hohoho I dunno
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QUOTE(cc980024 @ Jun 20 2019, 09:40 AM)
No la. What I meant was, the rental she collected from her subsale house (with seller's condition to keep the existing tenant)  is higher than the rental she paying for the house she staying, which is within the same neighbourhood (1 street away). Not rental more than instalment.
*
Aiyo...you make me happy nia...
heavensea
post Aug 2 2019, 04:16 PM

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Can't afford to pay dp and legal fees.
take 100 percents loan for 35 years
TSsoules83
post Aug 2 2019, 04:18 PM

Hohoho I dunno
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QUOTE(heavensea @ Aug 2 2019, 04:16 PM)
Can't afford to pay dp and legal fees.
take 100 percents loan for 35 years
*
you ask the property valuation to rise the pole ya biggrin.gif
TSsoules83
post Aug 2 2019, 04:20 PM

Hohoho I dunno
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QUOTE(Bjorn1688 @ Jun 23 2019, 02:49 AM)
Actually most of the subsales I had planned on buying had running water and electricity. Some even the owner / tenant were living in it.

The only ones that did not have both connected were those that had been vacant for many years, in which case I had already factored it in that the wires and plumbing would need attention regardless of what the owner/seller stated.

Leak testing certainly don't come cheap but considering the cost of the house and how much it can save you it is worth every sen.
Not necessarily so, sometimes a new project may have a design flaw that you would only discover upon getting the keys, it may be built to off-specification and you will never know what hidden gremlins that would rear its head well after the VP.
I thought in order for there to be CCC everything had to be up and running. Was the bank aware of it that there was no electric or running water? Usually they would deem it that this isn't a completed projected.
That's only as good as the developer honouring it.

Nicer design? That depends many newer developments tend to be very stingy with usable space. Rooms tend to be tiny and you get that long and narrow layouts.
*
"Nicer design? That depends many newer developments tend to be very stingy with usable space. Rooms tend to be tiny and you get that long and narrow layouts." yes and no... subsale seller will sell even expensive if more space... available...
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QUOTE(aspartame @ Jun 16 2019, 03:36 PM)
Owning a home has several benefits. But you have to make sure you're ready to buy a house.

https://www.growthrapidly.com/5-signs-youre...to-buy-a-house/
leodinouknow
post Today, 02:07 PM

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QUOTE(Bjorn1688 @ Jun 21 2019, 02:15 AM)
We did then I told him very well then the walls from the outside doesn't leak, what about those on the inside, his face went white pale.

I told him if I showed him a water leak would he reduce the price by RM30k, he said I could not show any water leaks so go ahead. I brought out my Black & Decker pressure washer, blasted the master bedroom wall for 5 minutes, you could see water droplets coming into the master bedroom. I asked him and the agent what was that.

I then pointed out to him, how I knew all along that wall leaked, I pointed to him the 3 pieces of laminates by the bathroom wall and the skirting board was a different shade to the rest of the room which meant they were new.

In the end he agreed to a reduction of RM30k in exchange for the guarantee clause to be gone,
*
so violent use presure washer blast people house to negotiate. i will keep this in mind next time can use

heavensea
post Today, 09:23 PM

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Cannot afford to pay dp?

 

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