Reason 84 - Your Real Estate Agent Helps You Do Post Transaction Routines

 

Getting the seller and the buyer into signing the agreement is merely the first step to success. The act is a mere formality, in which both sides pledge to work together toward the final transfer of ownership of the property, full payment, and handling of the keys (in the case of buildings and residential properties).

After contract signing, the sensitive documentation process begins. Assuming that you have done your homework in investigating all the legalities involved in the property you are buying, the stage is set for good progression.  The transfer of title will be made towards the final deal and the full payment of the property.

Buyers should know that even though the contract was signed, this will not permit them to use the property while documentation and paper works are still on going. The contract signing is just to formalize the initial mutual agreement.

Details of the contract may include the timetable of the payment scheme, specifications of the property’s value, names and details of the witnesses during the signing ( realtors, or escrow agents), among others.

The realtor’s job is to speed up the finality of the transaction, making sure that the deal is sealed without complications, and no documentary hitches stands along the way. The transfer of real estate titles may take time. It can’t be done overnight.

Professional realtors are trained to spot any complications and problems towards the making of the final deal. Necessary documents can be accomplished within the given timetable of the acquisition. In case the agreement states that the buyer will pay in installment or staggered basis, the realtor will also help to monitor the payment flow, and constantly update the timeliness of the buyer’s payment.

If the buyer cannot pay on the specified dates and timetable, the seller has an option to terminate the contract, and entertain another buyer. However, there is another procedure attached to this particular problem. Realtors are knowledgeable about this.

 

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
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