New private home sales declined 34.6% MoM to 170 units in December 2022. Meanwhile, HDB completed 20,000 flats in 2022, its largest annual number of flats in the last five years. Here are the news highlights from 16th to 25th January 2023.
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If it's your first time, negotiating property prices may be a little tough. So, for your convenience, we've written down what you should say.
The post 7 things to say when negotiating property prices appeared first on .
Mortgage brokers can provide support on understanding and interpreting the various home loan jargons used in the home loan process.
The post Mortgage brokers can be a useful resource to clear confusion over home loan jargons appeared first on iCompareLoan.
Hello,
My friends I are paid a good faith deposit when we submitted an application for an apartment. We were told that our application was rejected and our good faith deposit would be returned, however, the housing agency is taking forever to return the deposit (one month's rent). Is there a maximum amount of time that they can hold onto our deposit? Is is 14 days, the same time limit as a typical security deposit?
Thank you in advance for any information!
According to The Straits Times, 1 in 4 HDB resale flat buyers paid cash over valuation (COV) on their HDB resale flats in 2022. We’ll explain COV in greater detail later, but it means they agreed to purchase their flats above market value (as determined by HDB). And as the word “cash” implies, any amount…
The post COV Singapore — What is Cash Over Valuation (COV) of a resale HDB flat appeared first on .
Property buyers and investors in Toa Payoh private residential properties can strike gold as the location is popular and is in a mature estate.
The post Toa Payoh is a popular choice for homebuyers and investors appeared first on iCompareLoan.
After a series of sharp increases, fixed-rate mortgage packages of some local banks has begun as uncertain market conditions prevail.
The post Fixed-rate mortgage packages drop to below 4% in uncertain environment appeared first on iCompareLoan.
If you are a prospective homebuyer and want a smooth and successful mortgage experience, there are certain home loan pitfalls you must avoid.
The post Home loan pitfalls to avoid when you are searching for a mortgage appeared first on iCompareLoan.
Private deals to sell your property are right up there alongside smoking at petrol stations, or airing another season of Point of Entry — in other words, really bad ideas. And if you think it’s less risky when family is involved, you’re wrong. All it takes is one miscommunication, and you will be banned from…
The post Why you should never make private deals to buy or sell your house to relatives appeared first on .
You should NOT allow your agent to handle everything for you for the following reasons:
(1) The CEA Code of Ethics that apply to licensed agent prohibit agents from discussing issues like "fair value", valuation issues and methodologies, indicative value vs market value vs fair value unless the licensed agent is also a licensed valuer.
(2) Agents are "transaction-driven" i.e., no sale no income. For private property transactions agents act for the seller. The seller is often selling for a profit. It is easier for the agent to convince the seller to lower his asking price that to convince the buyer to pay a higher price because of limited funds and/or mortgage value. There is an inherent conflict for agents acting for the seller.
Bottom line: Do your homework as the seller. Your agent should look for buyers but you as seller negotiate directly with the buyer on price. The agent can follow up after the price is directly agreed between seller and buyer.