Property buyers and sellers should be aware of the following:
(1) Valuation is "more of an art" than a science". The valuation of a property will more likely be LOWER if it is done for the buyer (or bank) and HIGHER if done for the seller. Valuers givew a
(2) Many, if not most, are not aware of the constraints imposed by the CEA Code of Ethics and Professional Service Manual on licensed real estate agents. The agent can only provide recent data on similar properties in the same vicinity. Agents cannot discuss issues beyond their knowledge and expertise (like valuation issues - fair value, market valuation, indicative value vs. market price vs. fair value, valuation methodologies).
(3) Valuers often just use the direct-comparison method as the main method of valuation. According to the SISV Valuation Standards and Practice Guidelines, valuers are encouraged to use additional methods of valuation as a cross-check to the main method of valuation. Many do not since it is not a requirement and this could lead to wrong valuation because it can perpetuate undervaluation or overvaluation.
2023
A house purchase will be the most expensive buy for most people and hence, it is unwise to do it without knowing the true cost of home purchase.
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As a consumer, it is always immensely gratifying to be on the receiving end of good service by a property agent. At the same time, it is important to understand and respect the boundaries of what they can do for you. Occasionally, some might go out of their way to do more than what is…
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Property valuation needs to be taken seriously. After all, obtaining an indicative value ensures you get the most out of your investments.
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Built to stand the test of time, The Atelier is a brand new 120-unit luxurious freehold development in Newton developed by Bukit Sembawang Estates.
Hi,
I have just renewed my contract recently for 1 year with together worth another housemate for 1 year. But I need to moved to Sydney for work for 3 months and had requested early termination with 2 months notice, looking for replacement and forfeit my deposit but landlord demanded to pay $600 each month until end of my contract when there’s no agreement about early termination in my TA. Will I be charge against any laws if I just moved out and forfeit my deposit.
Thanks
As we step into 2023, we are greeted with higher prices, taxes and interest rates. What’s more, we have no idea since when good news has become bad news. The government gave every Singapore household $300 CDC vouchers because we have to pay 8 percent GST now. Healthy GDP growth means inflation is going to... [read more]
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Upgrading to a condo is considered a rite of passage for some Singaporeans — like getting through NS, or appearing on Stomp. But are these Singaporeans making a smart or dumb move, by rushing to sell their flat right after MOP? Here are the main considerations. Why would anyone want to sell soon or right…
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