Reason 15 - An Agent Smoothens the Way to Success In Buying or Selling Transaction

Entering the real estate industry is highly technical. After purchasing or selling a property, for instance, there are a lot of details to be addressed with utmost care. The transaction will not just end after giving your money to the property owner and shaking hands. Certain legal matters, on top of documentation, should be settled thereafter.

Apart from a lawyer’s, the partnerise of the real estate agent is importantly needed in providing you with knowledge and helping you get into a smooth turnout of the buy-out contract  stipulating the details of the transaction.

This is one of the most sensitive parts a real estate agent can do for you, as far as the process of owning or disposing a property. Remember, there are many technicalities that need to be ironed out first before it can be legally cleared between two parties.

Before you sign a contract, see to it that everything is cleared, and ask the sound suggestion from your agent. He is well equipped and full of knowledge on these matters--from minute to the big details of the purchase contract. No important item should be missed.

Your agent is capable of explaining and making suggestions on the details of listing contract, disclosures and addendum. An ordinary buyer or seller who is not familiar in the complicated real estate industry would not know the technicalities. Make sure that the contract is properly reviewed by your broker. It should provide mutual benefits between you and the seller or the property owner. 

Details of the contract may include, among others, whether it is purchased in cash or at a certain installment scheme. If installment payment is agreed between both parties, the contract should state the detail of the spread of the financing, the interest rate, maturity and other important matters. Your agent is partner enough to make suggestions based on your desired affordability—should a staggered payment be applied.  

For a house property for purchase, for instance, details like interior furnishing or furniture are included. If so, it should be cleared in the contract the quality of the furniture and the prices, to avoid problems in the future.

Aside from furniture, and other interior furnishings, details like availability of telephone lines, electricity and water connections, and other basic support infrastructure needed in a house should be stated in the contract. The specifications of the contract should be clearly confidential between both parties, with the presence of a third party witnesses like lawyers, or your agent as well.

Aside from these obvious requirements upon the signing of the contract, your agent can tell you any addendum that may be enclosed, such as the registry of the real estate in the official bureau, its records and taxes, history of the property, previous mortgage records, among others.

A drawing or a sketch of the entire property and the house should be included in the contract as well. This should be duly signed by a registered engineer or architect who made and constructed the house.

Certainly, there are different real estate laws in different countries. Depending where your desired property is located, your agent should tell you the existing laws and regulations in purchasing a property.

However, what is important is that you involve your real estate agent from the beginning of the transaction until the settlement of the buying or selling agreement and finally the signing.

Buy, Sell, Rent, Invest, In Singapore

Mindy Yong 杨雯诗

CEA Registration Number : R021232Z

Tel: (+65) 91002985
Fax: (+65) 64021826

mindy@mindyyong.com

KF Property Network Pte Ltd
CEA Licence Number : L3008430D