20Apr
By: chucknorris On: April 20, 2018 In: Education Comments: 0

Check with bankers on the market indicative value of your property and also check with real estate negotiators who are focused in the area of your property on what is the market asking price, actual transaction price of similar unit for sale and other relevant information that can be used as the reference to set the selling price for your property.

Next Step

Appoint good real estate agency that is willing to act on your best interests to market your property. During the real estate agency appointment, discuss on the estate agency’s job scope, marketing strategies and the professional agency fee to avoid any misunderstanding in the future.

*Provide your full co-operation and support to your real estate negotiator to secure the most suitable Purchaser for your property.

Next Step

Once agreed on the purchase price, sign the acceptance of the Letter of Offer and ensure that the Earnest Deposit is being paid to the real estate agency and NOT TO INDIVIDUAL, i.e. real estate negotiators.  At the same time, engage your own lawyer to represent you and draft the Sale & Purchase Agreement (SPA).

After 15 full working days

Sign the SPA and ensure that you have received the balance of the first 10% as downpayment.
(* 10% downpayment of the agreed price has to be paid by the Purchaser upon signing SPA.)
Once done, the appointed real estate agency can claim their professional agency fee.

Next Step

Your lawyer will proceed with the transfer of the ownership of the property to the new Purchaser.

Next Step

After 90 days (3 months)

Handover Vacant Possession of your property to the new Purchaser.
(* If transaction cannot be done within 90 days, as per the norm, there will be an extension of another 30 days at an interest rate of 8% per annum.)