Exciting! Been tasked by an old dear friend to assist in his search for his new marital home, double joy & responsibility.
1. Help Buyer to decide if he can / should take up loan with private financial institutions (banks) or HDB ( Housing Development Board ).
Well, rates for the latter whilst maybe more stable in the long run, not all qualify eg. Single income above $5,000 or double income above $10,000.
At first glance, Buyer cannot take up a loan with HDB, however after seeking advice with a HDB officer , and running through Buyer’s income slip, he was able to do so. I gained this valuable knowledge that HDB does not regard bonus as part of the salary and Buyer is married to a foreign non-working spouse hence he can be considered under the Double-income ceiling instead of the single-income one. (So … when in doubt, call HDB Hotline to seek further clarification). HDB hotline is 1800 866 3066 or visit its website at www.hdb.gov.sg
2. Critical stage of house hunt- Location Location Location? Where to settle your roots …?
Thankfully Buyer already knows where he wants. Bedok! The infamous Bedok Reservoir, and where food centres / eateries / amenities are plentiful.
3. Arrange viewings.
Leave it to us professional realtors to screen through all database for you first. Propertyguru whilst may be dummy proof and easy on the eyes, due to rising subscription fees, not all listings appear on it. Most of the time there are duplicate listings so I will double check that there’s no double booking, to avoid a waste of time.
4. Here comes the fun parts- Viewings itself!
Note to self : Buyer has a 3-year old toddler so packing some snacks and drinks is COMPULSORY during such viewings.
Know what Buyer wants and know the ‘Realtor Lingo’ to qualify the property accordingly for him. Not blindly. Let me try summarize for you (disclaimer: may not apply to all, this is my generalization from my own experience but has worked well for me.. )
When a realtor says ” brand new renovation” , the property is usually as mentioned, up-to-date and newly renovated.
“Move-in condition” is equivalent to “well-maintained and if not fussy, there is no need to renovate / minimum renovations required to areas of high wear & tear ie. bathrooms and kitchen.
“Need some renovation” means need more than just a coat of paint. And lastly, “Original Condition” is usually in need of major facelift!
Usually I will show accordingly, eg when a home-buyer is looking for ready to move in units, then I’ll rank them from newly renovated to move in condition. And if looking for good buys vice versa (usually reasonably priced units are those in need of some form of reno).
Lets check out some pics of what my client friend fell in love with!
Nothing beats a happy seller & buyer sitting down drinking coke and chatting like good ol’ friends!
Happy ending and the journey begins!