Author: Chanel Goh
In Singapore, if you have outstanding debts related to a property, you typically need to repay those debts when selling the property. Here are some key points to consider: Mortgage Loan Repayment: CPF (Central Provident Fund) Usage: Outstanding Property Taxes: Legal and Administrative Costs: Other Debts: HDB Flat Specifics: Engage Professionals: Net Sale Proceeds: Before proceeding with the sale, it’s crucial to have a clear understanding of your financial obligations and seek professional advice to ensure a smooth and legal transaction. The specific details may vary depending on the type of property, financing arrangements, and any unique circumstances surrounding your…
Worst 3rd quarter private home market since 2016 On October 27, URA released real estate statistics for 3rd quarter 2023. Their press release headline “Overall private residential prices remained broadly flat” is an understatement. Last quarter, despite developers released 10 new projects and 2,805 units for sale, the market sold only 1,946 new units. On a year-on-year basis, it is 11 percent lower than 2,187 new units sold in the 3rd quarter of 2022. Compared with two years ago in 3rd quarter 2021, it is 45 percent lower than 3,550 new units sold in that quarter. The market recorded total transactions…
Introduction: In the competitive real estate market, the prospect of affording your dream property may seem daunting. However, with strategic planning and financial discipline, you can turn this dream into a reality. This article outlines a comprehensive 5-step guide to help you navigate the path to property ownership with confidence. Step 1: Set Clear Financial Goals Before diving into the real estate market, take the time to assess your current financial situation and set clear goals. Define a realistic budget, considering your income, expenses, and savings. Identify how much you can comfortably allocate towards a property purchase. This step not…
When it comes to making significant decisions about property investments, trust is paramount. Entrusting your hard-earned money and future financial security to the right individuals or entities is crucial for a successful and stress-free real estate venture. In this article, we will explore key factors to consider and trustworthy sources to rely on when making property decisions. Engaging with reputable and experienced real estate agents is often the first step in a successful property transaction. These professionals possess in-depth knowledge of the local market, can provide valuable insights into property trends, and guide you through the intricate process of buying…