Selling in Singapore

People can have many different motivations for selling property, from sale of an investment to simply moving home. Before putting your house on the market, I recommend meeting with your preferred real estate professional to discuss the whole process. He or she can walk you through the associated costs of selling, pricing strategy and answer all your questions.

I have built up an extensive knowledge and expertise working in the Singapore Real estate market.  If engaged by you, I will conduct a valuation on your property, handle viewings and negotiations on your behalf and make sure your property is marketed in the most appropriate way to ensure maximum exposure to the right audience.

I will strive to achieve the best possible price for your property and the best buyer, thereby avoiding disappointment and stress from less serious potential buyers. I can also offer you plenty of advice on topics such as conveyance and financial services.

My services will include: -

·      Professional Photography

·      Full website listings

·      Email marketing

·      Property valuation

·      Marketing plan

·      Source potential buyers

·      Show your property

·      Negotiate on your behalf

·      Handle all admin

What I need from you: -

·      Present the property in the best possible light

·      Keep an open mind when it comes to negotiation

·      Accept as many viewing requests as you can

·      Have relevant information available:

      - Management maintenance fee

      - Sinking fund payment (for condominium).

      - Utility, buildings and contents insurance bill

      - Lease contract if your property is currently tenanted 

Legal fees: A lawyer will help prepare the purchase and sale, as well as closing documents. Legal fees can vary from one law firm to another, so it’s beneficial to do some shopping around. Consider obtaining recommendations from satisfied customers whom you trust.

Real Estate Agent commission: Any real estate agent who represents you for a transaction is entitled to commissions under state law. This fee, which is negotiable percentage of the property value, is payable upon sale of the property. The most common practice is that the seller’s agent splits the commission with the buyer’s agent.

Repairs and upgrades: Depending upon the condition of your property and current market conditions, you may need to make some alterations or improvements to ensure a good sale. I can help with recommendations to help show you house to best effect.  These improvements can range from simple cosmetic gestures to larger changes, such as painting and internal renovation. You may receive an offer conditional on some improvements or alterations. If you choose not to make the changes your prospective buyers can decide not to purchase the home. It is prudent to allow budget for some potential last minute work.

Property tax: Property tax is payable yearly in advance by the month of January. You should have paid the full year tax by 31 Jan before you sell your property. After selling your property, your buyer may need to reimburse a portion of property tax already fully paid for the year by you – the seller. The apportionment of property tax liabilities is a private arrangement between the seller and buyer.  Your lawyer can assist you in apportioning the tax amount and seeking reimbursement from the buyer. 

Seller’s Stamp Duty (if applicable)

You may need to pay a Seller Stamp Duty (SSD), if you sell the property within 4 years of purchase. SSD is payable within 14 days of the date of Contract/Agreement. You agent will provide you with more details regarding SSD.