Yes, the resale values of some properties (residential houses) in certain places do not seem to appreciate over time, and it (the resale values of these properties) had in fact depreciated below developers’ price, yet there are no takers.

Soon, these residential properties will end up as abandoned housing projects. They will remain ‘stagnant’ and left to ‘rot’ under the rain and scorching sun, if no one takes up the project or properties to redevelop it, to resell them.

So this is the same to an old house or idle land left standing in the rain and fiery sun for umpteen years in neglect. In the minds of people passing through the place they usually get an eerie feeling to see the house in dilapidated conditions or looking like a haunted house.

Like it or not, these suspicions are driving potential buyers away. As a result it will drastically bring down the selling price of the house often much below market price.

By the way, the resale value of an existing house is greatly dependent on the location, demand and popularity of the homestead.

Also, it has to do with its availability in the area, the land size (topography) and kind of community, infrastructures, public amenities and facilities, shopping, banking, schools and public transportations.

Thus, the selling price for house in a place like as mentioned above will be different by the next day. Exactly, it appreciates so fast before you could raise the money. The prospective buyer should not hesitate or haggle on the price, just grab it before the price rises. This happens when you are looking to buy a house in a sellers’ market.

However, the selling prices of houses are subjective and, so you might get a cheap buy if you could find a seller who needs quick money or who is leaving the country for good or migrating or from someone who had lost a lot of money at the casino.

In this case the property is likely to be sold at below market price and that should not be something against the law for both seller and buyer. It is a mutual dealing and sales with both the parties’ consent.

That means there are buyers who paid more to buy a property than others who had bought the house at below developers’ price.

There you go! This is dependent on your luck, timing and financial standing.

Therefore there should be no third party to turn up later to lodge a police report, to complain that the sales was illegal as it was sold below market sales value.

The bottom line holds so long as all legal documents pertaining to the sale and purchase of the house (property) are in order and that the transactions are duly signed for with money paid up in full.

Who profits from the sale is nobody’s business

If there is anything wrong about the transaction it should be rejected straightaway when the documents are presented to the Land Office for endorsement. So, thereafter, the deal is officially sealed and no one has the rights to lodge a complain, etc, etc. Let alone, when this transaction involved two private individuals and besides it had nothing doing with the government. That means who profits from the sale is nobody’s business.

Well, this is the same for the purchase of the property by the CM of Penang in his personal and private capacity. And most importantly, it was a non-government deal. Bearing in mind, he is still a free man to buy and sell anything as a private individual or person, especially using his own money.

Chapter closed!

LAU BING is a community activist and writer in Subang Jaya.