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advise needed on bangsar tivoli

 
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echoz



Joined: 28 Jul 2005
Posts: 6

PostPosted: Tue Aug 16, 2005 4:15 pm    Post subject: advise needed on bangsar tivoli Reply with quote

recently i bought a 1+1 unit for 285k F/F. Went and apply loan for three banks. The bank's evaluator called me and told me that the value of is property is only worth 250k. Means that they only can grant me 85% loan out of that 250k. I will need to pay up to 70k++ if i buy at 285k. Any advise on this matter?...70k++ is a heafty sum for me. Will i lose $$$$ in future if i sell it and face the same problem? Sad
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blue.sky



Joined: 22 Apr 2005
Posts: 265

PostPosted: Tue Aug 16, 2005 4:44 pm    Post subject: Re: advise needed on bangsar tivoli Reply with quote

echoz wrote:
recently i bought a 1+1 unit for 285k F/F. Went and apply loan for three banks. The bank's evaluator called me and told me that the value of is property is only worth 250k. Means that they only can grant me 85% loan out of that 250k. I will need to pay up to 70k++ if i buy at 285k. Any advise on this matter?...70k++ is a heafty sum for me. Will i lose $$$$ in future if i sell it and face the same problem? Sad



ya. this is the problem in secondary market.

Were looking at BU houses last few months...those owner asking for 5++K but
the bank came back to me that the value of the property is only 460 -490K..

So i need to take more cash out for the house + renovation....

At the end, I think I better looking for new house and buy from developer.

But the agent gave me advise that the foreign bank normally give higher valuation on the secondary property. You may try foreign bank.

But they said it is only 10-20K different from the local bank.

This is my experience.
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blue.sky



Joined: 22 Apr 2005
Posts: 265

PostPosted: Tue Aug 16, 2005 4:48 pm    Post subject: Reply with quote

How about show the valuation to the owner? hopefully he/she will give you discount on the selling price.

Money wise, dont forget you have to pay for the legal fees , stamp duty and ....
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echoz



Joined: 28 Jul 2005
Posts: 6

PostPosted: Tue Aug 16, 2005 6:15 pm    Post subject: Reply with quote

yep i applied stan chart, citibank as well as alliance bank. it was stan chartered's evaluator that told me this. Man, this is not at all a good news. I wonder how can seller/agent advertise w/o the pricing guideline. now if i pull out i lose 2% downpayment and if i pay...i end up paying 70++k excluding S&p fees and renovation. worse still if i sell my house in the future i might lose 50k or more Sad Sad Sad
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blue.sky



Joined: 22 Apr 2005
Posts: 265

PostPosted: Tue Aug 16, 2005 6:31 pm    Post subject: Reply with quote

I remember i told the agent about the valuation price too.

Then most of the agents just said... what? where got? There are many houses sold at this price (may be those people with load of cash, or people who are not aware of this before they seek for bank loan).

One of the agents said those valuation price is not updated one. You ask the valuation come to look at the house and value it. How can they value without looking at the properties.

for your case, can you withdraw your EPF to help a bit if you dont want to lose your downpayment?

I dont agree on sell it later (in short term), because you got bigger risk.. and you end up paying more on legal fees and.... again.

Note: there is also a clause if you settle your loan within 5 years. you got to pay 2% of your loan amount you borrowed from the bank. CHECK IT OUT!!
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NumberTWO



Joined: 30 Mar 2005
Posts: 220

PostPosted: Tue Aug 16, 2005 6:54 pm    Post subject: Re: advise needed on bangsar tivoli Reply with quote

blue.sky wrote:
echoz wrote:
recently i bought a 1+1 unit for 285k F/F. Went and apply loan for three banks. The bank's evaluator called me and told me that the value of is property is only worth 250k. Means that they only can grant me 85% loan out of that 250k. I will need to pay up to 70k++ if i buy at 285k. Any advise on this matter?...70k++ is a heafty sum for me. Will i lose $$$$ in future if i sell it and face the same problem? Sad



ya. this is the problem in secondary market.

Were looking at BU houses last few months...those owner asking for 5++K but
the bank came back to me that the value of the property is only 460 -490K..

So i need to take more cash out for the house + renovation....

At the end, I think I better looking for new house and buy from developer.

But the agent gave me advise that the foreign bank normally give higher valuation on the secondary property. You may try foreign bank.

But they said it is only 10-20K different from the local bank.

This is my experience.


blue.sky,
which BU area that u were looking at?
There is one unit in BU12 that the owner only asked for 480(if i remember correctly)..In fact there are plenty 'for sale' in BU11/12. Check it out.
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blue.sky



Joined: 22 Apr 2005
Posts: 265

PostPosted: Tue Aug 16, 2005 7:24 pm    Post subject: Reply with quote

BU 12 that side is cheaper. But i prefer the other side at centre point and 1 utama.

Yes. BU12 is cheaper. Around RM450K - RM480K can find one.
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kychong



Joined: 13 Apr 2005
Posts: 643

PostPosted: Tue Aug 16, 2005 7:48 pm    Post subject: Re: advise needed on bangsar tivoli Reply with quote

echoz wrote:
recently i bought a 1+1 unit for 285k F/F. Went and apply loan for three banks. The bank's evaluator called me and told me that the value of is property is only worth 250k. Means that they only can grant me 85% loan out of that 250k. I will need to pay up to 70k++ if i buy at 285k. Any advise on this matter?...70k++ is a heafty sum for me. Will i lose $$$$ in future if i sell it and face the same problem? Sad


You need to list down the fully furnished items for loan application. Perhaps in your agent's form and S&P agreement. It's will help you to get better loan margin.
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echoz



Joined: 28 Jul 2005
Posts: 6

PostPosted: Tue Aug 16, 2005 9:38 pm    Post subject: Reply with quote

haiiii ask already. owner spend 30k b4 to renovate. loose furniture dont take into account. the renovation is like 10yrs ago so the bank can only top up max 5k. Evil or Very Mad
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ryyc



Joined: 09 Aug 2005
Posts: 14

PostPosted: Wed Aug 17, 2005 7:35 pm    Post subject: Reply with quote

Sounds to me owner/agents are selling above market value, so is it really a good deal to be paying more for that particular property? Unless it's 110% perfect, perhaps its not worth paying more than market value...
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mercuri



Joined: 03 May 2005
Posts: 4599
Location: KL

PostPosted: Wed Aug 17, 2005 7:39 pm    Post subject: Reply with quote

echoz wrote:
haiiii ask already. owner spend 30k b4 to renovate. loose furniture dont take into account. the renovation is like 10yrs ago so the bank can only top up max 5k. Evil or Very Mad

actually if u ask me they cannot factor in the renovation and it would actually go by market rate. Smile
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Noor713



Joined: 15 May 2005
Posts: 507
Location: Sri Hartamas

PostPosted: Sun Aug 21, 2005 10:10 pm    Post subject: Advise needed for Bangsar Tivoli Reply with quote

So, back to the topic...

Will it be a good investment to buy a Tivoli unit? Smile
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kychong



Joined: 13 Apr 2005
Posts: 643

PostPosted: Tue Aug 23, 2005 8:40 am    Post subject: Re: Advise needed for Bangsar Tivoli Reply with quote

Noor713 wrote:
So, back to the topic...

Will it be a good investment to buy a Tivoli unit? Smile


Yes! Good investment, but with a right price. Very Happy
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Noor713



Joined: 15 May 2005
Posts: 507
Location: Sri Hartamas

PostPosted: Tue Aug 23, 2005 9:26 am    Post subject: Advise needed for Tivoli Reply with quote

Thanks kychong!

Still havent found one yet actually. Still hunting, I guess.. Cool
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mercuri



Joined: 03 May 2005
Posts: 4599
Location: KL

PostPosted: Tue Aug 23, 2005 10:39 am    Post subject: Reply with quote

For interest sake, if there is a choice between BAngsar Putri and T Villas, which would u choose? Razz
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kychong



Joined: 13 Apr 2005
Posts: 643

PostPosted: Tue Aug 23, 2005 10:42 am    Post subject: Reply with quote

mercuri wrote:
For interest sake, if there is a choice between BAngsar Putri and T Villas, which would u choose? Razz


Tivoli Villas. Very Happy
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Noor713



Joined: 15 May 2005
Posts: 507
Location: Sri Hartamas

PostPosted: Tue Aug 23, 2005 11:37 am    Post subject: Advise needed for Tivoli Reply with quote

Both.. Smile

I have viewed a unit at Bangsar Puteri. Really nice. In fact the first place I've viewed in KL where I didnt feel I was in KL! Felt like I was on a holiday at Frazers Hill.
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mercuri



Joined: 03 May 2005
Posts: 4599
Location: KL

PostPosted: Tue Aug 23, 2005 11:58 am    Post subject: Reply with quote

Hmm, my take in this is .... Bangsar Puteri, I would prefer to stay here rather than T Villas, I think it's nearer to amenities, more pleasant and like Noor mention enclosed in a feel good surroundings. T Villas feels a bit impersonal and "exposed" after the Buggery case eh? Laughing

Return wise, maybe both is around the same, but B Puteri would pass my "would I stay there test", also the layout of T Villas is something like the DBKL flats! Wink
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Noor713



Joined: 15 May 2005
Posts: 507
Location: Sri Hartamas

PostPosted: Tue Aug 23, 2005 3:16 pm    Post subject: Advise needed on Tivoli Reply with quote

I couldn't agree more, Merc. In other words, I `fell in love' with Bangsar Puteri. Smile

Btw, I heard that Tivoli has the best swimming pool in KL. True, kah?
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mercuri



Joined: 03 May 2005
Posts: 4599
Location: KL

PostPosted: Tue Aug 23, 2005 3:37 pm    Post subject: Re: Advise needed on Tivoli Reply with quote

Noor713 wrote:
I couldn't agree more, Merc. In other words, I `fell in love' with Bangsar Puteri. Smile

Btw, I heard that Tivoli has the best swimming pool in KL. True, kah?

Maybe when they was first completed more than 10 years back?!? When I was there, I wasn't too impressed with the Neo classical, Romanise facade! looks run down and so "outdated"! Shocked Sorry, uh huh!
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Tue Aug 23, 2005 3:41 pm    Post subject: Reply with quote

The unit i viewed was facing the greenery and i viewed on a rainy day a few years back. I thought it was quite nice actually. don't remember it too clearly anymore though.
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