Newbie
Should I make my offer in front of both seller agent and seller? There's no agent representing ys.
Also, what should I look out for in the house before buying?
After giving a cheque, what are the expected procedures to safeguard ourselves?
We have already done an loan in approval.
Thank you in advance! !
Junior
buying hdb or private?
Newbie
We are buying private.
Junior
must ascertain if the sellers are legit owners of the property. agents have a database to do that.Originally Posted by TravieJackie
Newbie
Ok. This is before giving cheque right?
Should I make the offer in presence of owner so agent cannot try to be funny?
Junior
but why should the agent be funny? the unit sells, he gets money. he will do his best to close the deal, but surely to the interest of the seller.
Junior
yes, before giving any cheques (even for the OTP)
Newbie
I've heard stories of agents pushing up prices.
Ok, what other things I should look out for the house itself?
Here once in a while
Fixtures. What items r included or excluded?
Just Do It! 要拼才会赢！
Junior
that's normal. it's all part of the negotiation process
you aren't likely to find all flaws in one or two viewing sessions. then again, the viewing sessions shouldn't be focused on flaw finding. go in AM and PM, bring family members - old and young
Newbie
We went day and night. Didn't bring family members coz they aren't staying there.
What kind of main fixtures are usually included anyway?
Really appreciate all your help!
Newbie
when u sign OTP..u all got verfiy the seller IC or not? I heard before the OTP sign but later buyer found out the seller name on OTP is not the owner
Junior
Junior
don't fret on the minor stuff. if you love the place, you won't kiss it goodbye just because of a broken door knob.We went day and night. Didn't bring family members coz they aren't staying there.
What kind of main fixtures are usually included anyway?
Really appreciate all your help!
when you purchase the apartment, it will be in "as is" condition
Newbie
Ya lor. Safeguarding ourselves coz dunno much. So asking and to be sure now. No buyer agent also coz we found a unit and approach the seller agent direct.
So make sure there's documents he's the owner of the place. Check name with ic. What other documents do I need to check?
Newbie
How to ensure? What if when we takeover the unit, something has spoilt?
Btw, after cheque given and they accept, we will have otp right? How soon must we pay?
Junior
there will surely be defects. but will they affect your decision to purchase? for me, i didn't bother to check before my purchase since i planned to have a overhaul of the apartment
Newbie
Ok. We're not planning to do much reno.
Btw, if I use up all my cpf OA, what will happen will when I reach retirement age?
Assuming I don't put much back in coz I am self employed.
Junior
no need.
but get your lawyer to verify the owner of the property before writing out cheque.
Junior
since u not using agent, the seller's agent will be very happy to serve you and close the deal as he does not need to share commission with another agent.
Newbie
Verify ic not enough....can easily change with a piece of sticker. Please do a ownership check to make sure he is owner and make sure ALL owners name is in otp. Ask the seller agent to produce....he needs to pay to get it. Both names must be inside in case skali husband agree but wife disagree.
Also Don't use sp services bill to verify ownership as he could be tenant.
Junior
can also ask for the quarterly maintenance slip/receipt that shows name of owner.
Office Boy
This stmt is strange, self employed, yet got OA to use?
Always leave some back door in case next time no money to pay instalments. OA pays 2.5% interest. Leave as much in there as u can. No one can guarantee future income. But a fat OA can guarantee house won't Cheong kong by bank. Try to have 2 yrs instalments worth in OA.
DKSG
Junior
In current context, will be surprised if agent not hungry to push your cheque if your offer is reasonable.
Thanks everyone for the support! Find A Home Loan is Standard Chartered #1 broker in 2013.
Senior
verification of ownership is the job of the agent ...
its a requirement by CEA
Senior
yes this u need to be sure that that pay all outstanding maintenance charges
but when u meet with your lawyer ... tell the lawyer to ensure that seller clears all such charges
also to make sure that they also give your resident passes ...
some sellers have multiple units ... they keep the passes for own use
Newbie
It may not be a bad move if you are near retirement and has saved up sizeable cash. What I understand is when you reach 55 all OA will be converted to retirement account so if you have not reach the minimum sum you may not able to continue to use your OA to pay the monthly installment or use to reduce your housing loan anymore.
Newbie
Ok, noted on outstanding maintenance charges.
I have OA coz I used to work for others. I plan to pay installment by cash and not cpf. Use up cpf coz cannot take out when old and lock in the retirement account. Might as well use for house.
Junior
just ask for property tax document
Newbie
easiest way is to do your own homework (in case you are worried the documents can be doctored).
spend $5 and use the INLIS system to check the size and registered name of owner. you'll get the info almost instantly. (there's a link with an example of the document so you understand what info you are getting)
http://www.inlis.gov.sg/LINNS/LINNS-...trProduct=LOIS
lastly, always make sure the 4% to exercise is made to the seller's lawyer under their CVY account and NOT directly to seller.
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