Wt_know Supersonic June 20, 2012 Share June 20, 2012 (edited) what is the penalty for returning? can nego with developer to "offset" (ie: $10K-$20K?) which is the penalty bear by previous buyer if buy a returned home is considered 2nd sales (old shoes) ? >>> sources from ST Buyers return 150 private homes in May Figure a five-year high but spike 'due mostly to April's robust sales, so rate largely stable' By ESTHER TEO PROPERTY REPORTER Private home buyers returned 150 units to developers last month at projects such as Sky Habitat, The Tampines Trilliant and Hillsta - the highest number in at least five years. These units, bought in April, made up 5.7 per cent of the more than 2,600 non-landed homes, including executive condominiums (ECs), sold that month, analysis by property research firm Square Foot Research shows. Despite the high absolute figure for returns, experts say that in percentage terms, the rate is in line with last year's. They add that the spike in absolute numbers is largely due to April's robust sales which had buyers snapping up the most number of units in almost three years. Edited June 20, 2012 by Wt_know ↡ Advertisement Link to post Share on other sites More sharing options...
Evillusion Supersonic June 20, 2012 Share June 20, 2012 more to come dont u worry. with many taking loans n over leveraging an increasing few will fall by the side! Link to post Share on other sites More sharing options...
Tigerwoods Turbocharged June 20, 2012 Share June 20, 2012 They probably money no enough... Link to post Share on other sites More sharing options...
Wt_know Supersonic June 20, 2012 Author Share June 20, 2012 (edited) how to find fire sale? btw, serious question ... how to identify it's a 'returned' unit or whatever we can leverage on to pull the price further down the sky high price just make the developer pocket sibei fat and laughing to the bank Edited June 20, 2012 by Wt_know Link to post Share on other sites More sharing options...
Animian Clutched June 20, 2012 Share June 20, 2012 these ppel are rich... to just forgo their deposit ...the developers need this kind of pple to make more money Link to post Share on other sites More sharing options...
Kangadrool Supersonic June 20, 2012 Share June 20, 2012 I thought lemon units initially. Link to post Share on other sites More sharing options...
Kangadrool Supersonic June 20, 2012 Share June 20, 2012 I thought lemon units initially. Link to post Share on other sites More sharing options...
Shanhz 3rd Gear June 20, 2012 Share June 20, 2012 how to find fire sale? btw, serious question ... how to identify it's a 'returned' unit or whatever we can leverage on to pull the price further down the sky high price just make the developer pocket sibei fat and laughing to the bank yes i also have the same question. now standby cash to buy fire sales unit. but how to find where got fire sale? Link to post Share on other sites More sharing options...
Passat57 3rd Gear June 20, 2012 Share June 20, 2012 i suspect the developers get their own ppl to sign the OTP, to create the impression of high demand for their developments. Then don't excercise and the option money just flow from left pocket to right pocket. No lost for them at all. Link to post Share on other sites More sharing options...
Sp4wn Turbocharged June 20, 2012 Share June 20, 2012 penalty will be the option lo .. whatever they chose to give at the point of contract. standard is 1%, but I've heard of 2% from time to time. if they have exercised the option, then they personally need to go plead with the developer to reverse the sale (I've only seen it happen once) .. otherwise, the developer has every right to sue to buyer to complete the sale, regardless of the financial status of the buyer (but from what i understand, if the buyer will become a bankrupt, it may not be worthwhile for the developer to pursue ...) if the returns were mainly shoebox units, then on 1% option, its just a few thousand dollars option fee forfeited. Link to post Share on other sites More sharing options...
SimonTan 2nd Gear June 20, 2012 Share June 20, 2012 Could be developers ploy, to buy up the lousier units, to drum up the demands. Because the suckers house buyers will panic, whenever they see more and more circle stickers pasted on the units map. The perception that if one don't act fast, the units are selling fast and good units may not be available if one were to procrastinate on the deal. Link to post Share on other sites More sharing options...
Animian Clutched June 20, 2012 Share June 20, 2012 http://www.squarefoot.com.sg/market-watch/returned-units check out the statistics Link to post Share on other sites More sharing options...
Wt_know Supersonic June 20, 2012 Author Share June 20, 2012 sticker is the biggest KELONG ... i don't believe it Could be developers ploy, to buy up the lousier units, to drum up the demands. Because the suckers house buyers will panic, whenever they see more and more circle stickers pasted on the units map. The perception that if one don't act fast, the units are selling fast and good units may not be available if one were to procrastinate on the deal. Link to post Share on other sites More sharing options...
Wt_know Supersonic June 20, 2012 Author Share June 20, 2012 imho, this is a serious breach of integrity and trust but not sure whether it's an offense to do it but i'm sure there are many loopholes where "they" can manipulate Could be developers ploy, to buy up the lousier units, to drum up the demands. Because the suckers house buyers will panic, whenever they see more and more circle stickers pasted on the units map. The perception that if one don't act fast, the units are selling fast and good units may not be available if one were to procrastinate on the deal. Link to post Share on other sites More sharing options...
Wt_know Supersonic June 20, 2012 Author Share June 20, 2012 (edited) 2% of $1,500,000 (ie: sky habitat) is 30,000 developer shouting huat ah !!! now go find next Robert penalty will be the option lo .. whatever they chose to give at the point of contract. standard is 1%, but I've heard of 2% from time to time. if they have exercised the option, then they personally need to go plead with the developer to reverse the sale (I've only seen it happen once) .. otherwise, the developer has every right to sue to buyer to complete the sale, regardless of the financial status of the buyer (but from what i understand, if the buyer will become a bankrupt, it may not be worthwhile for the developer to pursue ...) if the returns were mainly shoebox units, then on 1% option, its just a few thousand dollars option fee forfeited. Edited June 20, 2012 by Wt_know Link to post Share on other sites More sharing options...
Donut Supercharged June 20, 2012 Share June 20, 2012 i suspect the developers get their own ppl to sign the OTP, to create the impression of high demand for their developments. Then don't excercise and the option money just flow from left pocket to right pocket. No lost for them at all. Yes, that's what they do...... its a 'market practice'. the agents "chope" these units under own names, friends' and families' names........... So dont be fooled by these "80%" or "90%" sold gimmick. Its all BS......... Remember recently there was a Bedok Condo sale, and the reporters spotted teenagers were queuing up and later they realised these school boys are paid by agents to take a queue number? Link to post Share on other sites More sharing options...
Unidentified 1st Gear June 20, 2012 Share June 20, 2012 i hope people wont start flying off their window and land beside me while i am sleeping at the void deck. dont disturb my sleep..... Link to post Share on other sites More sharing options...
Wt_know Supersonic June 20, 2012 Author Share June 20, 2012 (edited) No 1 sucker = BANK No 2 sucker = DEVELOPER 1 + 2 join force will suck you sibei dry ... you can run but you can't hide Edited June 20, 2012 by Wt_know ↡ Advertisement Link to post Share on other sites More sharing options...
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