The one with the low cash....

Our house hunting "season" begun way before "to me you are perfect", but however, has so far been nothing encouraging. The first foray begun when we attempted to ballot for a flat in Commonwealth in early 2007 before our increment came in.

After that ballot exercise where only 300 odd flats were available and over 10,000 applicants appiled, all we got were blank draws from many a resale flat seller or new condos which were too attractive but meant that we had to pay cash to finance the loan.

The 2 main reasons for our predicament are :

1. We had no money to make the owner want to sell leh in the sellers market where exorbitant 50-100k above valuation meant that COLD HARD CASH, has to be paid and cannot be extended to us in a form of a loan.

2. We had exceeded the limit of the S$8k combined income cap, meant that we are priced out of HDB's goods to offer and also losing our stab at the $30k grant, for 1st time buyers and also the much lower interest rate of the hdb housing loan(about 1 plus % below that of a Bank loan)

So on Sunday, 06/01/2008, a viewing opportunity of some 4 room flats in Bishan popped up and we went by too take a look. One caught our eye and particularly was not asking exorbitant cash up front.

It was a 4A Corner unit, mid-floor located in the vicinity of Bishan Park.

1st impression when we got to the house was that it was lively and the living and dining area were big. The flat was nicely maintained and had some recent renovations taking the form of the downlights and door facade (feng shui set up). The price of the flat was also "delicious" considering the hefty prices sellers are lelonging at these days. S$20K above the Valuation was a decent sum for this unit and we were really set on paying ard this amount give and take S$5k

So we took a 2nd viewing appointment with the agent, hoping to secure it by offering our sincerity in a cheque, with my mum, and low and behold, we found a LEAKING SEWERAGE PIPE. So there it ends and our offer cannot get any higher with that prospect on mind.

So the agent badgered and badgered. came up with lots of tactics!
1. offer higher, seal the deal wif S$3k more.
2. Eat his commission so that we can have the place

Well, this is not to be, so here we are hanging ard again looking for a flat.

That's our 2nd close shave with buying a place to stay!

Shilly, don't worry, we will find our place soon and very soon, okay? Be patient.
We just have to make the price right for us!