Buying a unit directly from an owner

[shauntanzs]

Hi All,

I am buying an apartment directly from the owner. Can anyone advise me on what to look out for and the procedure in doing so?
This is my 1st time buying directly from an owner so need some help.
Thank you

[kingkong1984]

Hi All,

I am buying an apartment directly from the owner. Can anyone advise me on what to look out for and the procedure in doing so?
This is my 1st time buying directly from an owner so need some help.
Thank you

No one is going to entertain you lah.

You buy CCR and ask such questions? Are you really a CCR buyer?

Directly from owner. Make sure he is the real owner. He is authorised to sell. Procedure, no different from developer sale or thru agent. Lawyers involved.

[august]

everything let lawyer handle ~

[devilplate]

everything let lawyer handle ~

here comes the tricky part without agts....OTP...use whose OTP leh...haha...one party goto give in....gd luck if the other party is a lawyer...

[august]

here comes the tricky part without agts....OTP...use whose OTP leh...haha...one party goto give in....gd luck if the other party is a lawyer...

let the lawyers settle lor.. my lawyer will also scrutinise agency OTP before telling me is ok to proceed to sign or give cheque which makes the agent unhappy lol

[kingkong1984]

haha... dun get caught.

OTP, no date

OTP, no price.

OTP, unfavourable seller and buyer terms.

[devilplate]

let the lawyers settle lor.. my lawyer will also scrutinise agency OTP before telling me is ok to proceed to sign or give cheque which makes the agent unhappy lol

usually using those big agency OTP...both party feels ok....but no agts involved....both party will feel scare scare....hehe....tedious...can ding dong one

[pod]

Hi All,

I am buying an apartment directly from the owner. Can anyone advise me on what to look out for and the procedure in doing so?
This is my 1st time buying directly from an owner so need some help.
Thank you

Am sure the seller would have somethg for u to sign?

Else get a lawyer to handle/vet everythg. They will do all necessary searches & legal document for u.

Good luck!

[Regulators]

Lawyers charge $500 more for otp when it is so easy to get.

[devilplate]

Lawyers charge $500 more for otp when it is so easy to get.

its not a matter of getting....

[Regulators]

I have sold my own condo to direct buyer before, procedure is easier than hdb.the wording in the otp all very standard. Just get a copy from any property agency, delete away the agency names in any part of the otp you can use it already. Have done that before and it worked.

its not a matter of getting....

[devilplate]

I have sold my own condo to direct buyer before, procedure is easier than hdb.the wording in the otp all very standard. Just get a copy from any property agency, delete away the agency names in any part of the otp you can use it already. Have done that before and it worked.

depending vy much on the other party.....chin cai one...easy

[kingkong1984]

So easy, post a copy of each agency,s otp and strike out their name. Anyone? I have no exp so cannot post.

[tericia]

Hi All,

I am buying an apartment directly from the owner. Can anyone advise me on what to look out for and the procedure in doing so?
This is my 1st time buying directly from an owner so need some help.
Thank you

Regulators is right. Selling and buying condo on your own or directly with owner is much easier than HDB. You don't need agents if you don't want. But i still use one particular agent who is excellent in finding good units for me. But once i say ok to the unit, actually she's no longer involved in the process from that time on.

If you are frightened, then use a good lawyer from a good firm. I use Lee and Lee for all my transactions including HDB and he's good and gives me peace of mind. If anything goes wrong i know he's on top of everything. So i feel the extra is always worth it.

Unlike my previous experience with those in Toa Payoh, most times you only meet the intern or secretary and the lawyer can forget which case you belong to. So your fear may come from these lawyers.

If not, everything before you sign just forward to your lawyer and get him to ok then you sign, including the OTP (regardless it came from you or the other party).

[peterng8]

Agent chia chao liao(eat grass) if everyone do by themselves....ha ha...

[Regulators]

If agents can spot good buys for clients and sell high for sellers, won't jia chao lah.

Agent chia chao liao(eat grass) if everyone do by themselves....ha ha...

[Regulators]

Sometimes agents find me good buys, I happily let them earn.

Agent chia chao liao(eat grass) if everyone do by themselves....ha ha...

[devilplate]

I will still let agt to sell for me.... Imagine buyer come n view.... Den how i gona do follow up? Call the buyer up, makes me despo.... Smtimes buyer jus nid an extra push to commit.... Certain things still nid a middleman

[Regulators]

Buying can get agent but for selling I prefer to sell myself and save the thousands of dollars. It is really so simple. You only see the buyer once when buyer pays you the 1% and later everything handled by lawyers.

I will still let agt to sell for me.... Imagine buyer come n view.... Den how i gona do follow up? Call the buyer up, makes me despo.... Smtimes buyer jus nid an extra push to commit.... Certain things still nid a middleman

[howgozit]

Directly from owner. Make sure he is the real owner. He is authorised to sell

Ask for latest poperty tax printout to verifying ownership. This can be done on the IRAS website.

[hopeful]

Ask for latest poperty tax printout to verifying ownership. This can be done on the IRAS website.

subsale and just TOP where got property tax?
check for caveats in INLIS, ask S&P last time.

[bullman]

I will still let agt to sell for me.... Imagine buyer come n view.... Den how i gona do follow up? Call the buyer up, makes me despo.... Smtimes buyer jus nid an extra push to commit.... Certain things still nid a middleman

This is a very real situation. Calling up the buyer makes the owner seem desperate. The buyer will then get the false impression that a big price discount is possible.

It gets particularly frustrating when some auntie call up, tell you their sad stories and bargain over the $10-20 psf. The worst thing is after they get their best price, still want to negotiate longer option date etc. Feels like I am selling fish in market. Its best to let agents handle them so I can

[amk]

subsale and just TOP where got property tax?
check for caveats in INLIS, ask S&P last time.

for rich owners caveat may not be lodged. especially for subsale cases where cash outlay is small.

the last piece of evidence of ownership is stamp duty. get a copy of this.

[hopeful]

for rich owners caveat may not be lodged. especially for subsale cases where cash outlay is small.

the last piece of evidence of ownership is stamp duty. get a copy of this.

If borrow from bank, will see caveat.
If don't borrow and 100% fully paid up, the seller will possess the original title deed.

The problem if property still under construction and caveat not lodged.
If show only copy of stamp duty, ex-owner can sell to multiple persons or not?
That one has to ask lawyer's advice. How to check for proof of ownership.

[jc007]

Yes, Seller can act on its own and get lawyer do do the transaction. OTP can be prepared by the lawyer. Sellers lawyer will deal with the buyers lawyer on the legal formalites.
Buyer can insist to see the owners CT and the latest IRAS property tax.

[devilplate]

i believe INLIS will provide ownership details regardless whether caveat lodge b4 anot....any guru to clarify? just pay few bucks only ....i done b4...hehe

[zzz1]

Agent chia chao liao(eat grass) if everyone do by themselves....ha ha...

They (agent) must do their job and earn the Comm…some agent just arrange the viewing and thing the job is done..
if they represent their clients, they should look aft the interest. (be it rep buyer or seller)

[shauntanzs]

Thanks everyone for the advise, my previous CCR direct developer mah so no need to worry. This unit I buying is direct owner dats why I am abit concern. Ya, my lawyer say will charge $500 for preparing opt.

Good idea on using back my old opt n delete the wordings n print again.. Thanks friends in condosingapore.

[howgozit]

subsale and just TOP where got property tax?
check for caveats in INLIS, ask S&P last time.

I think as long as it has TOPed, the owner(seller) should be able to log into Property Tax e-services on the IRAS website with his Singpass and retrieve his property info on the "View My Property Portfolio/ Change Mailing Address" or "View Account Summary" link.

There may be no tax assessed yet but the property should still be assigned a tax reference and therefore accessible in the IRAS website.

This is what I ask for even when there is an agent involved but especially so when an agent is not involved.

Agree INLIS is another good way, btw take note of its operating hours.

Anyway, its just me, I guess I'm the kiasu type. By the way this is only a suggestion.

Good Luck on your purchase. Cheers!

[kingkong1984]

Thanks everyone for the advise, my previous CCR direct developer mah so no need to worry. This unit I buying is direct owner dats why I am abit concern. Ya, my lawyer say will charge $500 for preparing opt.

Good idea on using back my old opt n delete the wordings n print again.. Thanks friends in condosingapore.

If u were given a choice of layout selections and choices for theme colour, sunken bath or bathtub etc. Make sure it is updated. You basically sell what you can sell and reflected 100% as such.