Mistakes to avoid when selling a property in Singapore buyers’ market

Are you trying to sell your HDB flat, executive condo or private condo and feel that the process is not going well? You are not alone. In today’s property market, property buyers are spoilt for choices and so your house is just one with a “for sale” signs. Therefore, it will take more effort to sell your property and get a reasonable price. To address the problem, let look at some of the common mistakes sellers do and what you should do instead.

Setting the price too high

Any property is worth what the market is willing to pay. You might have a concrete reason as to why you set your price high, but if the buyers and other factors deem it high, they will move to the next one. Pricing the price too high discourage even potential buyers from contacting or paying a visit to see the property.

What you should do

If living in a flat, you can check what price other people sold their house and estimated the price. There are also online services to help estimate your property, e.g., http://www.hdb.gov.sg/cs/infoweb/residential/selling-a-flat/selling-statistics
Leaving your house in a bad state
The first impression goes a long way. If potential buyers see photographs of a house in a lousy state that is a turn-off. Never let a prospective buyer walk out of the door after a minute merely become they could not tolerate the condition of your house.

What to do

Tidy up your condo. If they are any personal belongings lying around, pack them and move them to your next home. Repair items such as doorknobs, sagging screen, and broken windows. If you clean the flat after moving out, it looks more spacious, and space is a factor lots of buyers consider.
Don’t get offended by buyers
People will make a low bid for your condo, and that might not feel okay especially if you have an emotional attachment to the place. Instead of shutting them done, take the opportunity and negotiate. You need to keep in mind that buyers want stuff and keep most of their money. It is natural.

What to do

Take offers as a business transaction, nothing personal. When such proposals come your way, make a counteroffer, you never know what someone will make in their second offer.
Failing to close the deal over stupid mistakes
Some people push a deal to 99% completion then lose it at the last minutes for mistakes they could have easily avoided, e.g., holding on to your property because of a few dollars.

What to do

Unless the buyer is unreasonable and costs you a bomb, it is wise to do the math and weigh advantage and disadvantages of your final decision.

Not putting effort into marketing

Real estate in Singapore is a significant investment. Agencies pour millions into advertising channels just to get their properties out there. You should invest in marketing too. It’s the only way to reach a needy buyer willing to cash out what your property is worth. Here, you can choose to engage a real estate agent, use an online listing platform or use traditional marketing medium.

What you should know before renting out your property in Singapore.

Becoming a landlord is one of the good passive ways to make an income. In Singapore, one must, however, contemplate on a couple of things to ensure you are not breaking the law. Before we get to that, it is wise to know some of the questions landlords must ask themselves before renting out their property.

How much can my property fetch monthly?

Money is a top priority if you are renting your property. In Singapore, you will not struggle with this question a lot as there is a consolidated rental price by URA and HDB. All the information you need is here www.hdb.gob.sg and www.ura.gov.sg. It is, however, important to note that these prices do not touch on attributes such as floor level, condition, and furnishing of the property and view of the property.

Should I furnish my property before renting out?

If your property is unfurnished, it best to leave it that way as it will fetch more tenants. From there you can furnish the house upon tenant request rather than having to remove if the tenants have their furniture. If you rent your furniture, you will add between 10 to15percent of your monthly rent.

Which cost will I incur for renting out my property?

Landlords often rent out their property and deduct the financial cost to arrive at the monthly rent. It is good to the point that there are unaccounted costs which come when you rent out your property, e.g., repair cost more so for an old building.
Apart from those questions, which other things should you know when renting out your property in Singapore?

Only Singapore citizens can sublet their HDB flat

To do so, you are required to fulfill minimum occupation period before leasing your entire HDB flat. According to HDB, the minimum occupancy period is 5 years and if you bought the flat from open without a housing grant, the minimum occupation period stands at 3 years.

It illegal to rent out your home for a less than 6 months

Whether is private residential properties, HDB flats or individual rooms renting your property should be more than 6 months. People to it anyway but technically they are breaking the law.

You can only rent out a spare bedroom if your house is 3 rooms or bigger

If you own a 3 –room flat or bigger, you are free to rent out the spare bedroom. You have to register your property subletting with HDB within 7 days of renting the room.

Singapore Non-citizens renting a spare bedroom or entire HDB flat must hold a valid pass of more than 6 months.

If renting out your property ensure the non-citizen tenant has valid employment ass, work permit, study passes, long-term social visit passes, dependent passes or s passes. According to current rules and regulation, tourists are not allowed to be subtenants of HDB flats. Also, only Malaysian work permit holder from marine, construction and process sectors can rent your HDB flat. To avoid breaking the law always check the validity of your non-citizen tenant document online to verify their legitimacy.

6 Real Estate Blogging Tools and Gadgets Worth Considering

If you are somebody venturing and attempting luck in real estate, you need to think about having a blog site that speaks out about your interest in the field. Blogging is among the best marketing techniques that are being used up by numerous companies regardless of their size and specific niche. Whether it is a company handling medications or some individual designer, blog sites can help get online attention and great deals of visitors to one’s website which in turn supply many brand-new consumers.

Here are 6 Real Estate Blogging Tools and Gadgets Worth Considering:

  1. Calmly: This is an expert full-screen editor readily available online. Calmly motivates interruption free writing. Using this tool one can compose, include images, and more. It offers an idea of how one’s blog site will appear like with all the info and photos.
  2. Hemingway App: Your blog site needs to be legible. It needs to be composed in simple to understand language as it will be gone to by people around the world. So, readability is one important thing that needs to be considered while composing a blog site. Hemingway App is one tool that can help evaluate your blog site for readability. The tool highlights the text that may be tough to check out as well as recommend options enhance the readability of the blog site.
  3. Irfan View: This is a fantastic image editor. If you are preparing to start a real-estate blog site, you may need to publish a variety of images to display residential or commercial properties, structures, and areas. Such images are rather heavy in size and might take hours to submit. Using Irfan View one can modify images to decrease the size of the image.
  4. Co Schedule’s Headline Analyzer: Headlines are very important. If your blog site does not have an appealing heading, the possibilities of it being left aloof or disregarded are more. The Co Schedule’s Headline Analyzer assists one examine the heading and it recommends modifications that might make it more fascinating to check out.
  5. Piktochart: This is an info-graphic app. It is simpler to notify somebody through infographics as it conserves one time from checking out the whole post. Online visitors barely invest more than 5 minutes on a websites. The Piktochart can come convenient in communicating the message within a portion of seconds. This tool although spends some time to develop info-graphics, it deserves thinking about for your property blog site. Using the tool, you can produce graphics communicating info about the place such as the society, schools and mall near the property.
  6. Canva: A blog site with fantastic graphics can help your blog site stick out amongst the rivals. Canva is one blogging tool that enables its users to communicate their message through graphics. It is a simple to use the tool and does not need any technical certification to use it. The graphics created by Canva can be shared on social media also.

The web has made our world appear so little that we can do practically anything while being in front of the PC/laptop screen. This technology has shown rather advantageous particularly for the real estate market.

Understanding Home Closing Costs in Southern California

NELA is among the most popular markets in all of Los Angeles. Not simply the apparent areas like Glendale and Pasadena, but in smaller sized, lesser-known areas.

You may be in love with the schools in Mt. Washington, the real estate stock in Highland Park or the communities of Eagle Rock, but you need to overcome a few of these information before you can call any of those locations home.

Much is made about closing expenses in realty deals, but these differ for a number of factors. The single biggest cost, the realty commission, is covered by the seller (who pays the commission in a split in between the purchaser’s and the seller’s representatives).

Charges the purchaser will need to pay at the closing included some variation; the following are the biggest of such expenses at closing:


Property owner association charges

If the property is a condo the seller may be in financial obligations with the house owners association, where case you will find this out before going into the sales agreement. In distressed situations (foreclosures, near-foreclosures and brief sales), these charges may total up to countless dollars.


Personal Mortgage Insurance (PMI)

If your deposit is less than 20% of the cost of the property, you will be needed to guarantee the mortgage at in between 0.3% and 1.15% of the loan quantity.



These allow you to change the regards to the loan to your favor if you pay several portion points towards the mortgage quantity. If you have the money and plan to own the property for a year or longer, paying a point or two upfront can give you more savings.


Prorated real estate tax

As the LA tax year starts on July 1, you will need to cover whatever stays in the year ahead of time from the day of the closing.


Insurance premiums

Protecting the property (as needed by all lending institutions) from damages and liability is needed at closing also.


Escrow costs

Third parties carrying out escrow services need to be made up for that work. Keep in mind that charge structures are not repaired or controlled by the state of California, but are usually set according to the size of the deal.

Technically speaking there are several costs that will be part of the purchaser’s closing expenses but which the seller instantly spends for in a repayment. These consist of the city transfer tax, documentary transfer tax to title and the owner’s title policy. Numerous other costs under $500 (average) expenses consist of the lending institution appraisal cost, credit report cost, prorated HOA costs, carrier services connected to the deal, notary services, archiving costs, taping trust deed (to title), and loan tie-in costs.

Keep in mind that the procedure of taking a look at homes and working out a rate, and possibly that of getting approved for a loan, are usually more time consuming than the closing itself. A knowledgeable real estate agent will have the ability to encourage you on all these information, usually to the point where you are informed how much money to give the closing and in what kind.

Daily Habits to Adopt for Success in Real Estate & Life

Great routines are the structure of wealth. If you watch effective people you will see their day is filled with constant routines that save time, enhance focus and eventually help achieve more every day. Effective people get up early, learn daily, make lists & set objectives and track their development.

– Get Up Early

Make the very first 2 hours of your day the most essential. It will not just set the tone for the day but will provide you a strategy for whatever else that follows. These 2 hours can be used for activities you take pleasure in such as exercise, meditation or conclusion of a task or activity from the previous day. The morning is devoid of interruption enabling you to do more of whatever you take pleasure in.

– 20 Minutes of Learning Daily

It is very important in any business to know what is going on at all times. Aiming to master every element of business might appear frightening but is less tough if you invest a long time on it daily. No matter how hectic you might be you can squeeze twenty minutes of learning into your day-to-day regimen. You can find this time on an audiobook driving to or from a consultation or on the treadmill as you get some exercise in.

– Make Lists & Set Goals

Success is frequently simpler if you plan precisely what needs to get done. Before you go to sleep you ought to prepare for the next day. Deal with the most difficult job initially and go from there. Preparation your objectives not just make you effective but provide you an orientation and function. The most effective people on the planet have something in typical, they all say their objectives aloud 3 times daily. This assists to enhance their instructions and keeps them on track in achieving their objectives. Try it and see how much more detailed you get to reach your objectives!

– Track Progress

If you do not know what is working, is difficult to assess the outcomes? At the end of every day you ought to take a while to evaluate what you did to develop on your development. If you cannot do anything, you need to ask yourself why then establish a brand-new plan to remain on track.

You eventually manage where you enter Life. Altering practices is never ever simple but is important for development. Start by integrating these 4 practices into your every day life and see the distinction it makes to your success.


To be effective in property and life it begins with constant day-to-day routines. Read and embrace these 4 routines for success.