The first step to any property transaction is appointing a property agent. As your agent throughout the process of purchasing and selling, it is a must for them to be experienced and competent on the market. Stay with one broker per trade because appointing over a representative will result in confusion and embarrassment as most brokers in Singapore share the identical portfolio. Be frank with your broker concerning the sort of property you are searching for, like dimensions, location and cost. Clear directions will help your agent direct you towards the perfect residence quickly and correctly. A good broker can also function as a consultant should you need any legal and fiscal advice upon purchase.
Choose a property
Depending on your needs, the home agent will search for appropriate living spaces. Once narrowed down to the select few, you will be cordially invited to look at the units. During the rounds of review, listen to the furnishings, fixtures and other special arrangements, if any. Do not feel reluctant in negotiating for renovation and cost. Property investments are long term large ticket items; so be certain you are perfectly happy with the unit before agreeing to the purchase.
Option to Buy or Offer to Buy
Once you have your eyes on a property, you should prepare 1 percent of the Purchase cost as consideration in exchange for the choice to buy from the seller. Upon which, you will be given 14 days to determine whether you would like to purchase it. If you decide to do this, you should exercise the option by signing Pasir Ris 8 Condo and forwarding it to the seller’s attorney together with another 4% to 9% of the cost. As an alternative, you can request your broker or attorney to draft the Offer to Purchase stating clearly the cost and terms and conditions. Most brokers can consult with a respectable attorney if your desire to consult any.
Complete the transaction
Leave things from the hands of your attorney. They will complete the sale in 8 to 10 weeks by lodging a caveat on the property and organizing with the financial institutions if needed. You can inspect the property one last Time before the conclusion of sale should you seek permission to do so in the alternative to buy. You should check the furnishings of the house and the Products the seller has agreed to market along with the unit. Within 14 days of signing the choice to buy or the Sales and Purchase Agreement, a postage responsibility of 3% of purchase price needs to be paid to Inland Revenue Authority of Singapore if the property exceeds more transaction.