How to search for landed property to buy

[Ktglfc]

My family is looking to purchase a 2nd-hand landed property for investment purpose and I'm the guy appointed to do all the grunt work...   

ie, I need to do the search and shortlisting. 

 

Criteria is this : 

- Within 400m of MRT station (existing or constructing)

- Freehold or 999 years

- If 3-storey, below $1,100 psf (land)

- If 2-storey, below $900 psf (land)

- Budget of $X million. (enough for terrace or small Semi-D. Don't wanna state the value here cos scared get sarcastic remarks)

 

I been looking at propertyguru and its been tough as most listings don't state their exact location.

 

How should I go about my search? I was thinking to just send out my above criteria to 20 agents who do landed property sales and get them to search for me. 

 

Any important pre-viewing criteria I missed out? I have another long set of checkboxes for viewing.

 

Seeking opinions from gurus please. 

 

Go call up the agents in propertyguru, sure can find one lah ...

Else, go look at the papers and call those agents that advertised....

Else, go to the area that you are looking at, surf the neighbourhood, and sure find one house that have the agent name, call him ...

[Wt_know]

just post in condosingapore.com or post a question in propertyguru, your Inbox will be exploded with PM ... muahaaha

[sake]

Bellboy, why must your landed be within 400M of MRT?

 

Landed owners do not consider proximity to MRT as very important.

Edited May 21, 2016 by sake

[Showster]

Bellboy, why must your landed be within 400M of MRT?

 

Landed owners do not consider proximity to MRT as very important.

Generally landed near MRT better be fenced.

 

Illegal parking is going to be a big headache. Unless don't drive.

[sake]

Generally landed near MRT better be fenced.

 

Illegal parking is going to be a big headache. Unless don't drive.

IMHO, exclusivity is more important than proximity to MRT for landed.

[Mercury1]

Finding the exact location of the property on propertyguru is simple, just call the agent of the house you're interested in and ask them. Done it many times before and only had a few rejections. Bro seriously if you're coming here to ask us to propertyguru and search for you (on your generic criteria's) I can say most of us have better things to do.

 

Go down see an actual property you are interested in take notes and anything you feel is out of the ordinary then post some specific question. Heck bring your family down, bring a feng shui master down, don't worry about wasting agent's time if you're serious.

 

 

Yes bro, can. But too many MRT stations in Singapore. Plus alot of houses in propertyguru anyhow whack their location. 

 

Many of them quite far away, but appears in my 500M search criteria. 

 

I was hoping there's easier way....

 

Everyone gotta start somewhere.

 

Very basic questions, yes. I was hoping for your answer?

 

Bro, you the guru. Can help? 

 

Edited May 21, 2016 by Mercury1

[Aukang]

Call any agent with any landed property listed. Go and view the house. Then after that just tell agent your criteria of that house doesn't fit. The agent will source for co broking deals... Sure can find one...

[Throttle2]

IMHO, exclusivity is more important than proximity to MRT for landed.

 

[Sturtles]

[Throttle2]

A simple question. Why does co-broking shortchange the buyer and seller?

ok i share personal experience.

 

Viewed a place many many years ago when still greenhorn and put trust in Agents.

As a buyer, i bumped into an agent (A) who offered to help me look.

decided to make a bid on a place solely marketed by Agent B.

 

Agent A said he will help me make a bid as he is capable, skilled etc etc etc..

I agreed (big mistake) out of kindness.

 

Asking price was $1.13mil from Agent B.

I said i will consider and offer.

I told A to go in at $1.15mil to SEAL the deal.

He said no problem.

 

A week later, A said, no deal, asking now at $1.2mil

Of course I told him forget it.

 

Later on, i found out that deal was indeed sealed at $1.13mil

 

I realised that two things could have most likely happened.

 

1. Agent A didnt make the offer becos he wanted to sell me something he was marketing to get full comms instead of splitting with B

 

Or

 

2. Agent B didnt show the owner the check for $1.15mil and took a lower offer at $1.13mil becos she wanted to keep full comms from seller instead of splitting with A.

 

So who got screwed?

Seller and buyer.

Seller got at lower price and buyer (me) couldnt seal the deal he wanted.

 

Lesson learned hard way.

All for being kind.

[Wt_know]

agent > co-agent > seller > buyer

whose interest is highest?

Edited May 22, 2016 by Wt_know

[Duckduck]

ok i share personal experience.

 

Viewed a place many many years ago when still greenhorn and put trust in Agents.

As a buyer, i bumped into an agent (A) who offered to help me look.

decided to make a bid on a place solely marketed by Agent B.

 

Agent A said he will help me make a bid as he is capable, skilled etc etc etc..

I agreed (big mistake) out of kindness.

 

Asking price was $1.13mil from Agent B.

I said i will consider and offer.

I told A to go in at $1.15mil to SEAL the deal.

He said no problem.

 

A week later, A said, no deal, asking now at $1.2mil

Of course I told him forget it.

 

Later on, i found out that deal was indeed sealed at $1.13mil

 

I realised that two things could have most likely happened.

 

1. Agent A didnt make the offer becos he wanted to sell me something he was marketing to get full comms instead of splitting with B

 

Or

 

2. Agent B didnt show the owner the check for $1.15mil and took a lower offer at $1.13mil becos she wanted to keep full comms from seller instead of splitting with A.

 

So who got screwed?

Seller and buyer.

Seller got at lower price and buyer (me) couldnt seal the deal he wanted.

 

Lesson learned hard way.

All for being kind.

 

next time just use your head below n go w d sexy chiobu. at least if u never close deal, u get to see her half ball

[bellboy]

IMHO, exclusivity is more important than proximity to MRT for landed.

 

Want a landed house, but gonna rent it out at least for the next 10 years. Thats why need to be near MRT. Along with MRT, other amenities will also naturally come, making it attractive for tenants. 

Call any agent with any landed property listed. Go and view the house. Then after that just tell agent your criteria of that house doesn't fit. The agent will source for co broking deals... Sure can find one...

 

That was my question in the first place; should I do that.

Thanks for your opinion. 

ok i share personal experience.

 

Viewed a place many many years ago when still greenhorn and put trust in Agents.

As a buyer, i bumped into an agent (A) who offered to help me look.

decided to make a bid on a place solely marketed by Agent B.

 

Agent A said he will help me make a bid as he is capable, skilled etc etc etc..

I agreed (big mistake) out of kindness.

 

Asking price was $1.13mil from Agent B.

I said i will consider and offer.

I told A to go in at $1.15mil to SEAL the deal.

He said no problem.

 

A week later, A said, no deal, asking now at $1.2mil

Of course I told him forget it.

 

Later on, i found out that deal was indeed sealed at $1.13mil

 

I realised that two things could have most likely happened.

 

1. Agent A didnt make the offer becos he wanted to sell me something he was marketing to get full comms instead of splitting with B

 

Or

 

2. Agent B didnt show the owner the check for $1.15mil and took a lower offer at $1.13mil becos she wanted to keep full comms from seller instead of splitting with A.

 

So who got screwed?

Seller and buyer.

Seller got at lower price and buyer (me) couldnt seal the deal he wanted.

 

Lesson learned hard way.

All for being kind.

 

Thanks for sharing this. Will take note. 

[Throttle2]

next time just use your head below n go w d sexy chiobu. at least if u never close deal, u get to see her half ball

Thanks for the tip, Ducky

Landed house is for staying.

Not for renting or investment.

Yield too low and capital gains today are a big question.

But luckily prices are easily 10% lower than a year or two ago.

Take note that the rent collected is NOT going to cover your mortgage unless you down at least 50 %

[Sturtles]

ok i share personal experience.

 

Viewed a place many many years ago when still greenhorn and put trust in Agents.

As a buyer, i bumped into an agent (A) who offered to help me look.

decided to make a bid on a place solely marketed by Agent B.

 

Agent A said he will help me make a bid as he is capable, skilled etc etc etc..

I agreed (big mistake) out of kindness.

 

Asking price was $1.13mil from Agent B.

I said i will consider and offer.

I told A to go in at $1.15mil to SEAL the deal.

He said no problem.

 

A week later, A said, no deal, asking now at $1.2mil

Of course I told him forget it.

 

Later on, i found out that deal was indeed sealed at $1.13mil

 

I realised that two things could have most likely happened.

 

1. Agent A didnt make the offer becos he wanted to sell me something he was marketing to get full comms instead of splitting with B

 

Or

 

2. Agent B didnt show the owner the check for $1.15mil and took a lower offer at $1.13mil becos she wanted to keep full comms from seller instead of splitting with A.

 

So who got screwed?

Seller and buyer.

Seller got at lower price and buyer (me) couldnt seal the deal he wanted.

 

Lesson learned hard way.

All for being kind.

I feel you...

 

Only by representing yourself, can you best protect your interest. Basic knowledge of laws and regulations required though.

 

For the selling agent, i have seen some good marketing work done by them for landed homes and sometimes, it may be worth it in the bear market

[sake]

Thanks for the tip, Ducky

Landed house is for staying.

Not for renting or investment.

Yield too low and capital gains today are a big question.

But luckily prices are easily 10% lower than a year or two ago.

Take note that the rent collected is NOT going to cover your mortgage unless you down at least 50 %

Agreed . Landed rental yield is quite low. Investment wise, you need to have a pretty long term view, at least 10 years given the current market outlook. However I am a firm believer of landed for the long term.

[Tonydeath]

See! stay in CCK but got two pte property to lease out. That's a richman. hahaha

ok i share personal experience.

Viewed a place many many years ago when still greenhorn and put trust in Agents.
As a buyer, i bumped into an agent (A) who offered to help me look.
decided to make a bid on a place solely marketed by Agent B.

Agent A said he will help me make a bid as he is capable, skilled etc etc etc..
I agreed (big mistake) out of kindness.

Asking price was $1.13mil from Agent B.
I said i will consider and offer.
I told A to go in at $1.15mil to SEAL the deal.
He said no problem.

A week later, A said, no deal, asking now at $1.2mil
Of course I told him forget it.

Later on, i found out that deal was indeed sealed at $1.13mil

I realised that two things could have most likely happened.

1. Agent A didnt make the offer becos he wanted to sell me something he was marketing to get full comms instead of splitting with B

Or

2. Agent B didnt show the owner the check for $1.15mil and took a lower offer at $1.13mil becos she wanted to keep full comms from seller instead of splitting with A.

So who got screwed?
Seller and buyer.
Seller got at lower price and buyer (me) couldnt seal the deal he wanted.

Lesson learned hard way.
All for being kind.

 

[Wyfitms]

ok i share personal experience.

 

Viewed a place many many years ago when still greenhorn and put trust in Agents.

As a buyer, i bumped into an agent (A) who offered to help me look.

decided to make a bid on a place solely marketed by Agent B.

 

Agent A said he will help me make a bid as he is capable, skilled etc etc etc..

I agreed (big mistake) out of kindness.

 

Asking price was $1.13mil from Agent B.

I said i will consider and offer.

I told A to go in at $1.15mil to SEAL the deal.

He said no problem.

 

A week later, A said, no deal, asking now at $1.2mil

Of course I told him forget it.

 

Later on, i found out that deal was indeed sealed at $1.13mil

 

I realised that two things could have most likely happened.

 

1. Agent A didnt make the offer becos he wanted to sell me something he was marketing to get full comms instead of splitting with B

 

Or

 

2. Agent B didnt show the owner the check for $1.15mil and took a lower offer at $1.13mil becos she wanted to keep full comms from seller instead of splitting with A.

 

So who got screwed?

Seller and buyer.

Seller got at lower price and buyer (me) couldnt seal the deal he wanted.

 

Lesson learned hard way.

All for being kind.

Sorry bro, I'm sure u can appreciate why I don't want to split comm. every man for himself

 

Anyway now I won't dare to pull such stunt

 

Can complain to CEA and I will be fined and licence suspended