December 23, 2008

Timing is everything

Last Monday was a lucky day for my younger sister, WF. I left for work slightly late that day and caught sight of a couple putting up a “For Sale” signage at the vacant house a few doors away from mine. WF had been looking for a property around my area but the few she enquired so far were out of her budget. I stopped my car and casually asked how much are they putting up the house for. I was shocked by her answer – they are selling it for only 20k above my purchase price three years ago, when in fact the value had appreciated by about 120k. Furthermore, it was an end unit, which typically would cost more. The lady told me that they are from Sime Darby and they are putting the house back on the market as the previous buyer had repeatedly failed to secure a loan. She passed me her business card and I promptly informed WF.

WF called her immediately and arranged to view the house in the evening after work. A short while later, WF got a call from the lady, informing her that another buyer was interested and if she really wanted to secure the house, she’d have to pay 1k as booking fees. WF immediately arranged to meet up with her to inspect the house. Hubby was still home at that time and went over to lend an eye. The house was still in a good condition, save for a few broken tiles which caused slight leakage on the ceiling at the car porch. WF immediately paid the booking fees and after some negotiation, managed to get Sime Darby to agree to rectify the leakage and broken tiles. Best part is, since it was the last day of Sime Darby’s Parade of Homes campaign, she’ll be getting free legal fees for the S&P as well as loan agreements.

WF was both excited and nervous about the purchase – excited coz she finally managed to purchase a house in her desired location; and nervous because she committed to such as huge purchase within the blink of an eye. But I think it was indeed a terrific buy, for getting the house at about 30% below the market price and getting free legal fees, which can be quite substantial. I’m just so glad I was at the right place at the right time to catch the guys from Sime Darby in action in putting up the “For Sale” signage.


jazzmint said...

whoa that's vy lucky indeed

Anonymous said...

That's great--should be nice having your sister nearby.

LittleLamb said...

Sime Darby houses can go below 30% market rate? that's very good. Glad your sis managed to such a good deal.

michelle@mybabybay said...

Wow maybe is a Christmas gift for her! Merry Christmas!

Anonymous said...

Wow...that's a great buy! We've been driving around checking out houses in Penang too but have not called up any. Doubt we'd get such a good offer!

Looks like a good start to 2009 for your sister :)

A Mom's Diary said...

Jazz - yup, she was really lucky

Asianmommy - yeah, my elder sister is also staying nearby so all three of us will be within walking distance of each other

LittleLamb - it's an exceptional case, since the previous buyer couldn't get a loan

Mybabybay - Merry Christmas and Blessed 2009 to you and your family

Kittycat - you're back in Penang already? Bet you've gone around sampling all the local food. You're scouting for a house too? Planning to sell off your apartment?