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Resale price offer

Last updated: January 26 2013
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  • Resale price offer

    Hi,

    I have a 2bhk unit in Noida 7X. The posession is expected in 2013.

    I tried selling my unit with price inputs taken from 99acres and .
    Brokers have put in sale price of Rs X per sqaure foot, for similar units i.e. park facing units and in same floor range +/- 2 floors, same phase and 2bhk in my project only in these websites.

    When I inform them my intention to sell, they are offering me price of Rs X-400 per square foot.

    Reasons given for this Rs 400 less price while selling is:
    1. There are no buyers in market.
    2. No resales are happening.
    3. There is oversupply in market.
    4. In price negotiations sellers are reducing their price by 200-300 per square foot.

    There are many experts in this forum who would have sold their flats to get actual investment returns.
    I have kept a target of selling my flat in next 4 months. If I do not sell my flat I have to pay remaining 10% of amount in next 6-12 months and also registration amount/stamp duty based on the offer of posession. This additional investment will reduce my return.

    Is it that brokers buy the resale flats first and then they sell it to end user with additional 400-500 per sq. ft. premium.

    Shyam
  • #2

    #2

    Re : Resale price offer

    Originally posted by shyam65 View Post
    Hi,

    I have a 2bhk unit in Noida 7X. The posession is expected in 2013.

    I tried selling my unit with price inputs taken from 99acres and .
    Brokers have put in sale price of Rs X per sqaure foot, for similar units i.e. park facing units and in same floor range +/- 2 floors, same phase and 2bhk in my project only in these websites.

    When I inform them my intention to sell, they are offering me price of Rs X-400 per square foot.

    Reasons given for this Rs 400 less price while selling is:
    1. There are no buyers in market.
    2. No resales are happening.
    3. There is oversupply in market.
    4. In price negotiations sellers are reducing their price by 200-300 per square foot.

    There are many experts in this forum who would have sold their flats to get actual investment returns.
    I have kept a target of selling my flat in next 4 months. If I do not sell my flat I have to pay remaining 10% of amount in next 6-12 months and also registration amount/stamp duty based on the offer of posession. This additional investment will reduce my return.

    Is it that brokers buy the resale flats first and then they sell it to end user with additional 400-500 per sq. ft. premium.

    Shyam
    Dear Mr Shyam,

    Welcome to the real world. Please understand that in today's India, if you still believe that brokers are working for a mere 1%-2%, you are sadly mistaken. 99% of the brokers are working for the difference between sale and purchase prices and they are the ones making a killing.

    If you went to the same set of brokers and asked them for buying the very same 2 BHK which they are 'buying from you' for X-400, it would actually become X+400 and the argument would now be that there are no sellers in the market, hence, you got to pay the premium.

    My advice to you would be to put up your property on neutral sites ( like homeshikari in bangalore) or use 99 acres with stern warning to brokers for not contacting you.You may get your desired price. But, first of all you need to throw out these necessary evils called as brokers, who will otherwise ensure that you will never get your desired price.

    Pankaj

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    • #3

      #3

      Re : Resale price offer

      Shyam and Pankaj, I believe your brokers are right. There is a real oversupply in Noida's market and no/little buyers due to inflated prices. Wait for possession; RTM commands better premium; but still no guarantee due to the huge oversupply. Most of the investors will look for an exit, hence creating a pressure on price rise in near future. To curb brokers making money, always insist for a direct party meeting or get it done through online portals. Gud Luck!

      Comment

      • #4

        #4

        Re : Resale price offer

        Originally posted by delhiite View Post
        always insist for a direct party meeting or get it done through online portals. Gud Luck!
        Good piece of advice!

        Comment

        • #5

          #5

          Re : Resale price offer

          Thank you all for your inputs.

          Comment

          • #6

            #6

            Re : Resale price offer

            I called some brokers yesterday in Noida..


            Those brokers told me that they can get me a good resale deal in 4200-4300 all inlcusive in sector 137..

            Although rates of fresh booking has moved up in last few months but resale rates have not moved up..
            Last edited January 22 2013, 11:12 AM.

            Comment

            • #7

              #7

              Re : Resale price offer

              Did you ask about any specific project? A big chunk of payment will go in resale + cash for appreciation. Did you ask how much would go in one go?

              Comment

              • #8

                #8

                Re : Resale price offer

                Hmmm.

                Must note these points.

                1. Prices may go down toooo (Due to Oversupply in 2013) but again housing sector is always in demand.
                2. If your target is comming four months then keep trying from now.
                3. Just give your number to different brokers as well on line portals. Ask for your expected price. If any broker will get any customer, he will surely come back to you and ask for bargain.
                4. Be at purchager place - U wi;ll also ask for bargain.

                Best of Luck

                Comment

                • #9

                  #9

                  Re : Resale price offer

                  Originally posted by planner View Post
                  Hmmm.

                  Must note these points.

                  1. Prices may go down toooo (Due to Oversupply in 2013) but again housing sector is always in demand.
                  2. If your target is comming four months then keep trying from now.
                  3. Just give your number to different brokers as well on line portals. Ask for your expected price. If any broker will get any customer, he will surely come back to you and ask for bargain.
                  4. Be at purchager place - U wi;ll also ask for bargain.

                  Best of Luck
                  Totally agree

                  Comment

                  • #10

                    #10

                    Re : Resale price offer

                    Rula rakha hai brokers ne.....commission se unka pet nahi bhar raha hai.....beech mein itna maar leta hai margin

                    End user ke liye bahut badi problem hai ye....Admin please you should do something to figure out an easy way to resale property without these brokers.

                    Trust me this will be the best thing that you can do for middle class in the name of mankind !!

                    Comment

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