Singapore citizens can buy property

All the Singapore citizens or companies can buy residential or commercial properties. If one wants to but a property from HDB or CPF, then one need to fulfil some residential and legal requirements. One can start by appointing an agent after interviewing him on the CMA skills and legal documentation skills. An ideal seller would tell you everything about the property before selling , but in case that is not happening, your agent should be able to discuss most of the important points like repairs or modification before purchasing, special requisites from both parties, if any. One also needs to appoint a lawyer to check on the status of the property, history of the seller and to fix on the terms and conditions of the sale. Your lawyer needs to find out details of the title deeds, not to mention sending requisitions to various departments of government.
  
In case you have a CPF saving, you can go ahead a withdraw the same after the valuation of the property is done by a evaluator who is professional and involved in the CPF valuer’s panel, otherwise one can opt for other financial options based on the correct interest rate. Once the finance is arranged and the premises are ready to occupy, the remaining amount has to be transferred to the owner/ seller and then the seller needs to handover the papers of the property. The buyer has to pay the stamp duties and agent fees, from his side and settle the lawyers balance. This may take eight to twelve weeks from the day the initial deposit was made.
  
Before closing the deal one has to make a good offer to the seller. Do not make an offer which is too low as this may make the seller feel insulted and he/ she may think you are underestimating the property. It is not advisable to make too high offer also as it may come across as an unrealistic or suspicious deal, unless there are many other buyer for the same property and you really want to own it. Be very careful if you want to purchase property in Singapore. The real estate business is a very well paying business in Singapore. It is a nice business which can help you in making a lot of money through your investment.

MINDY YONG

( +65 ) 91002985

Fax: (+65) 64021826

mindy@mindyyong.com