What a REALTOR do for you

  1.  Preparing the property for professional marketing

After completing the CEA authorisation and Seller check-list to represent you exclusively, our realtors will need to de-clutter, store personal photos and artefacts so that they can home-stage before photography. To avoid inconveniencing they can set viewing slots during which cooking, hanging of laundry and pets can be avoided. They will undertake marketing at their own cost via consumer and trade networks, portals and word of mouth after checking:

  1. Title deed, to verify ownership and size.
  2. Names per the bank account for the offer cheque (if different from the above)
  3. NRICs of named owners.
  4. Tenancy agreement if property is being sold with a current tenant.

Sellers can only grant the Option to Purchase at least seven (7) days after HDB checklist has been completed and submitted to HDB. Only buyers who are taking housing loan or using CPF for the flat purchase need a valuation of the flat. Upon granting of the Option to Purchase, sellers have to allow the appointed valuer to inspect the flat within four (4) working days after buyers have submitted a valuation request. Buyers are given a 21-day Option Period to exercise the Option to Purchase.

  1. Offer to Purchase

Once we have matched the buyer and negotiated the best sales price,our realtor will prepare the HDB Option to Purchase (OTP), stating the price, offer validity and requested sales completion period and accept not more than $1000 Option Cheque. They will have kept you constantly briefed on competitive listings and the market trend so you can make an immediate decision and bank the cheque (Option Fee). Should you reject, the cheque will be returned un-cashed to Buyer.

  1. Option to Purchase

The standard Option Period for the Buyer to decide whether to proceed with the purchase is 21 days. Meanwhile, a HDB valuer will be arrange a date to drop by your place for photo taking in order for property valuation report. While buyer proceed with their bank process if any.

  1. Exercising the Option to Purchase

When purchasing, the signed OTP and further of not more than $4000 exercise option fee must reach you or me before 4pm of the Option expiry date.

  1. Submission to HDB for First Appointment

After buyer exercise the option, our realtor will submit to HDB for 1st appointment which usually about 4 to 6 weeks away from the day of submission. The date booked must be mutually agreed to by both the buyer of the resale flat and the seller.

  1. Attend HDB 1st Appointment

The HDB will send a letter to both the buyer and the seller confirming the date and tim of their First Appointment to process their purchase/sale transaction. All owners need to be present on the first appointment with their NRIC or Passport.

  1. Divorce Case – Final Court Order
  2. *Inherited Case – A Petition for Letter of Administration with the Estate Schedule

(*For this case. HDB’s approval must be obtained before submitting the resale application)

  1. Approval for your Purchase Transaction

You will receive the approval letter from the HDB within two weeks from the date of the first appointment.

  1. Final Inspection by the Buyer

Final inspection by the buyer is needed after you moved out and must before the completion date/2nd appointment date. Buyer will have to ensure that the flat is vacant and the physical condition is acceptable fore taking possession of your unit.

  1. Resale Completion

The resale completion is scheduled about six to eight weeks from the date of the First Appointment. If you choose to engage private lawyer, then you need not be present. Lawyer will take care of all the paper work. As for the cash proceed cheque,our realtor can always help to bank into your personal account as provided when it is released thru the lawyer, with your given authorisation.

  1. Fees to be Incurred
  1. So that you/your Tenant face minimal disruption and our realtor pre-qualify all prospective buyers the standard agency commission fee is 2% of Sales prices + GST. This includes the home-staging and professional marketing at our own cost. There may be repair/home improvement costs you need to undertake to show in best condition.
  2. Upgrading Fees –You will need to pay for the upgrading cost if you are the owner of the flat when the invoice for flat owner’s share of the upgrading cost is rendered by HDB based on the scheduled billing date.
  3. Legal Fees – If existing loan took from HDB, you will have the option to use HDB lawyers to complete the transaction. If its bank loan, then you will need to engage a private lawyer.

Why its better to a realtor to assist you on the sale/purchase?

A realtor is the

  • Educator
  • Negotiator
  • Customer Service Specialist
  • Social Guru
  • Marketing Specialist
  • Psychiatrist
  • Salesperson

5-Reasons

 

**While every effort has been made to ensure that all information displayed herein is accurate and complete, it is indicative rather than definitive..