Comprehensive Market Analysis ( CMA )

CMA (Comprehensive Market Analysis) should be insisted if an agent is engaged in order to sell the property. CMA usually shows prices of sale among various properties with in a specific time frame. Usually the seller is not required to be present if the agent is representing for all viewing. If an offer is made, it is important to make sure there are no conditions that are unacceptable are attached. There are certain things one needs to be aware of, while accepting an offer. There should be no conditions in the offer that look unacceptable. The agent should be well informed about the tenure mentioned in the offer and also the financial eligibility of the customer.
  
 One can appoint a legal advisor or a solicitor in order to make sure that the transaction runs smoothly and in favour of the seller. The solicitor should make sure that the deposit amount given by the customer/ buyer is well secured with the seller until the negotiations are complete. The buyer is liable to pay one percent of the property value, as a deposit and then he can decide within 14 days if he wants to continue the deal. During these 14 days, the seller cannot proceed to sell the property to any other buyer. When the finance is ready, the buyer will have to pay ten percent of the property value and the seller’s solicitor would prepare the agreement for selling and purchase between both the parties.
  
 Even when the agreement is signed between both parties, the seller can chose to withdraw from selling and return the buyer’s deposit money with interest, but then again the buyer may end up losing the initial one percent deposit. Once the legal formalities are complete, the seller is liable to handover the property to the buyer. In case the buyer agrees to take the handover, with tenants, then the deal is complete otherwise the premises should be vacant while hand over.
  
 Real estate business in Singapore can be really promising for you. All you need to do is to look for the right investment opportunities before making any investment in real estate business in Singapore. In this way you will be able to make really good money out of your real estate investment in Singapore. Make your investment decisions carefully.

MINDY YONG

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