Safe property buying process
Upcoming SlideShare
Loading in...5
×
 

Safe property buying process

on

  • 1,585 views

Property Buyer mortgage consultants helps buyers through the complicated and often stressful buying process as an extra service....

Property Buyer mortgage consultants helps buyers through the complicated and often stressful buying process as an extra service.

We also help to assess the property for fair valuation as an independent third party as we are not property agents.

We then help buyers find the best fit home loan mortgage for property buyers or owners looking to refinance their existing loans.

SMS us 9782 8606 to know more.

Statistics

Views

Total Views
1,585
Views on SlideShare
1,039
Embed Views
546

Actions

Likes
0
Downloads
7
Comments
0

14 Embeds 546

http://investinsingapore.blogspot.sg 154
http://propertybuyer.com.sg 130
http://singaporehomeloan.net 124
http://investinsingapore.blogspot.com 53
http://www.investinsingapore.blogspot.sg 30
http://singaporehomeloans.net 24
http://www.investinsingapore.blogspot.com 19
http://investinsingapore.blogspot.in 4
http://investinsingapore.blogspot.fr 3
http://investinsingapore.blogspot.com.au 1
http://www.investinsingapore.blogspot.jp 1
http://www.investinsingapore.blogspot.cz 1
http://www.investinsingapore.blogspot.in 1
http://investinsingapore.blogspot.it 1
More...

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Safe property buying process Safe property buying process Presentation Transcript

  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Buying a property in Singapore Safely www.PropertyBuyer.com.sg/mortgageNot just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Why are you buying a residential property?• Are you buying for investment or residential use?• Buying for residential use and investment has different considerations. • Contact Property Buyer Mortgage Consultants to know more. Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Considerations for buying a residential property• Work out a budget and affordability• Select your location• Decide on suitable housing types and size• Decide on whether you would like Freehold or 99 years properties• Decide on traffic connectivity• Check for major road lines• Check for amenities such as schools and supermarkets Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Sourcing your property• Go to www.propertybuyer.com.sg search engine or any property listings portals to identify properties• Search as wide as possible• Make a list of property in the shortlisted spreadsheet about asking price, agent’s phone number and address. • If you do not know the unit number and size, because agent don’t want to reveal, then multiple listings could refer to 1 single property.• Make sure to take the time to view the property. Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Property Buying Research – Cheap?• Properties may sound cheap, often there are reasons, such as: - • Lengthy Probate cases (transfer of ownership due to death) • Divorce cases • Unnatural deaths • Bankruptcy • Property affected by reclamation or forced acquisition Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Property Buying Research – Benchmark tests• Using Caveats from URA, conduct price checks.• Check against similar properties and variances in prices• Check against the relative price differences across different regions.• Note: Property agents often mark up property prices by 10 to 20% in classifieds and advertisements so as to allow room for negotiation. So you have to check actual transacted prices instead.• Check property vacancy rates and rental returns. Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Property Buying Research – Future Trend•If you are spending $1m to $2m to buy a property, you may want toconsider spending some money to buy a subscription to URA’s Realis.URA’s realis provides comprehensive data on: - • Supply in the pipeline break-down by projects and location • Vacancy rates of property developments (This helps to determine rental demand)•Look into Demographic data at Singstat to understand the netimmigration rate.•Investigate URA master plan to understand the trends anddevelopments. Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Property Buying Research – History price•Look into previous year’s caveats to understand the relative pricebenchmarks and movements in property prices across differentregions in Singapore.•Determine whether the current price is high on a historical level.•Determine whether these price rises have come together with betterattributes such as a better environment or amenities or is it purely thesame property being sold for more expensive rate. Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Property Buying Research – Others•Look at the current macro economic trend in Singapore andworldwide. Make your own assessment.•Look at vacancy rate of properties.•Look at yield of properties. (Is it cheaper to rent or to buy?) • http://propertybuyer.com.sg/articles/singapore-property-investor-buye•Look at interest rate costs and understand interest rate trends suchas that of Sibor or SOR. Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Property Buying Process•Communicate your offer price to seller’s agent.•As property agents cannot represent both sides, so you are betterequipped with a buyer agent, however Buyer agent may not be able toact in your interest if they are not paid. But with so much regulation,most property transactions are likely to become more expensive. • (Note: Most seller agent most likely do not want to share their commission with the buyer agent, hence this model does not really work yet.)•In many cases, you will only see a Seller Agent when you view theproperty. Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Property Buying Process – Financing•Contact a Mortgage Consultant: - • Get the property address, unit number, size and asking prices to a mortgage consultant who will help you to assess the fair value. • Calculate your estimated maximum borrowing level. • Do an approval in principle so as to assure that you have a loan in hand before making an offer. • Shortlist appropriate home loan packages for application. Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Property Buying Process - Negotiations•Make sure you go prepared, as property agents are trained in pricenegotiation skills.•Make an offer to the seller and subject to an actual option topurchase. (Not offer to purchase) • NOTE: Property buyers must “sight” the contract and make sure that the names correspond to that shown in Singapore Land authority showing ownership of the property so as to make sure to pay to the right party. • Make your cheque out to the correct names indicated to complete the Option to purchase. (Do not pay to agent) Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Property Buying Process•Upon receiving your Option to purchase. You have usually 14 days toexercise the option. (NOTE: When you exercise the option, the act ofpurchasing the property is irrevocable, you have to complete thepurchase) • The usual validity of the Option to purchase is 14 days. But can be mutually negotiated and agreed upon. • At this point (If you had already use a Mortgage Consultant), you would have a bank loan approved in principle.•Sign bank’s letter of offer Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Property Buying Process• After getting a loan confirmed, arrange with the law firm to exercise option. (Note: try to get a bank loan before exercising option. Else you may risk bankruptcy.)• Another 2 weeks from exercising option, the Property Buyer stamp duty comes due.• Another 8 weeks on (typical), the property is completed, the full agree loan quantum is disbursed to seller and your bank receives the title deeds and you receive the keys. Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Property Buying Process• Landed Properties and buying a Condo yet to be built may have a slightly different process.• Do check with us. Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans About Property Buyer Mortgage Consultants• We are NOT property agents. • (If you wish, we may refer you to agents which we find honest.)• Guide and help buyers with valuations and processes.• Help buyers find the best match bank loans.• Our services are free to you as we act a bit like “Outsourced bankers” where we are paid a commission. (Banks save on payroll, while we are driven to help buyers. Win-win situation.)Not just Cheap But what fits !
  • SMS: +65 9782 8606 http://www.singaporehomeloan.net Home Loans loans@propertybuyer.com.sg Commercial Loans Contact Property Buyer Mortgage Consultants (Business registration 200618162C)Home loans and commercial loans for buying or refinancing.Tel : + 65 6100 0608Sms: + 65 9782 8606Email: loans@propertybuyer.com.sgURL:http://www.SingaporeHomeLoan.nethttp://www.PropertyBuyer.com.sg/mortgagehttp://www.iCompareLoan.com Not just Cheap But what fits !