My husband came home to share with me about a double storey terrace house in Kasigui. Property prices keep going up. Some Sabahan have so much money that they keep buying houses. My husband thought it might be a good idea for investment or to stay after we retire.
Piling has been done. When we went to view the place, it is very strange that no one was there. I only saw two Chinese altars. The location is behind Tun Fuad Park. If you come from Jalan Kolam, turn right to Dongonggong. The location is half way to Dongonggong. The land was previously a hill.
The developer needs to sell off 65% of the house before the bridging
bank can release the money for them to start building the house. We like the location, and the developer said he is selling for RM630K but he offered us RM500K because he urgently needs to sell off two more to get the bank to release money for them to continue the project. He requested us to pay him RM5K immediately to book the house, and he will arrange the bank officer to meet up with me. If the loan is not successful, he will return the deposit to us.
My husband was attracted by the "discount". Furthermore, his friend said he has booked the only bungalow in that estate.
Whenever coming to big money deal, my conservative personality will come into play. Whatever I learned from RFP and instinct questions come into practice. Who is this developer? From his attire, does he look reliable, experience, and knowledgeable to be a developer in Kota Kinabalu? Why does he want us to rush into paying him the deposit without assessing our affordability? Does he have any previous similar project for me to assess him? Why doesn't he give me a name card?
Since he didn't pass my questions, I turn down the idea. Logically, RM500K is an expensive purchase. Shouldn't we shop around before making our decision? I do not want such commitment to tie us down, as we have other short term and urgent goals to achieve before this long term goal. Paying a few thousands a month for the housing loan is not an easy task. We take longer time to decide whether we should change a new set of sofa. Mistakes are made when decision is done in a haste. So, just brush aside the "opportunity".
House hunting can totally be an arduous activity. The way the real estate market is rolling nowadays makes it even harder to land a home that checks out all our financial preferences. At any rate, you made a great decision saying no to that realtor. Don't settle for less than what you're originally going for, and don't make rash decisions because of a tiny price cut. Thanks for sharing that! All the best with your hunt for a new home!
ReplyDeleteSheldon Ward @ Brett Halvorson & Associates