How to Sell Your Home Quickly in Singapore
Parc Central Residences will share with you How to Sell Your Home Quickly in Singapore.
Expatriates get quite excited when they are informed to be moving to Singapore. What’s not to get pumped up? After all, Singapore is one of the few first-world cities in this part of the world.
Also, whatever amenities you have grown accustomed to in your home country, you are sure to find it in Singapore. Best of all, Singapore is an excellent doorway to everything that Asia has to offer.
Beijing, New Delhi, Melbourne, Tokyo, and other crucial cosmopolitan centers are just a few hours away. Thanks to Singapore’s central location.
That is no surprise that multinational corporations throughout the world have chosen Singapore as their Asian regional headquarters. With that said, there’s a lot more interest in people buying homes in Singapore.
What if the opposite is true? You’re in a situation where your contract has expired, or your assignment in Southeast Asia is over. In such cases, you need to have a solid plan when selling your home.
As you probably already know, if you act rationally or rush through the sale process, chances are you probably are going to lose money on the deal. Not all expatriates have a housing allowance from their employer.
If you have spent your own money to buy your own home, you want to maximize every single cent you have invested in your unit. Whether you have a house and lot, a townhouse or a condominium unit, you want to get the most money out of your investment.
That is perfectly understandable. Unfortunately, if you were to rush through the process and you come in without a plan, there is an extreme likelihood that you are probably going to walk away with less money than you had expected.
If you play your cards wrong, you might lose money. That sounds kind of far-fetched, given how fast real estate appreciates in this part of the world, but it does happen.
Rush sales almost always lead to the seller losing quite a bit. If you don’t want to put yourself in that situation, here are some essential tips that will help you sell your home quickly in Singapore for a profit.
The key is to break even or get a profit. It doesn’t have to be a fantastic rate of return. At least you can count on this extra cash as your profit when you move back home.
Be clear on your sale date
The first thing that you need to focus on is the sale date. A lot of people who conduct rush sales don’t have a sale date. They just find out in the worst way possible that their employer reassigned them, and they have only a month to move out of town.
As you can well imagine, that is not enough time. Even if you find a willing buyer, chances are you’re going to end up with a short end of the stick because you are in such a rush.
As you probably already know, if you’re going to be leaving Singapore, it’s not just a simple matter of selling your home, packing your stuff, and going back to where you previously lived.
Instead, you have to take care of moving expenses and the legalities of the real estate sale. You have to deal with so much paperwork. On top of all of this, you also have to hassle with the bureaucracy at work.
Given this context, it’s no surprise that people who don’t set a specific sale date end up selling in a hurry. They would take whatever money they can get so they can just move on time.
Don’t put yourself in this situation. Focus on a specific date and plan accordingly.
Get your property listing in front of as many eyeballs as possible
The more potential buyers you have for your property, the higher the chance that you will get a fair price for it. If you do this right, you might walk away with a lot more money than you paid for your property initially.
That is the best-case scenario. You increase your chances of enjoying such a benefit when you make it a point to advertise on so many online platforms.
Hire a moving company
A lot of people who are thinking of moving in believe that they can handle this part of the process themselves. They feel that since they can put stuff in a box and move it from point A to point B, they pretty much have everything figured out.
Thinking that you’re capable of doing something is one thing, actually pulling through and doing it is another matter entirely. You have to understand that you’re not moving in a vacuum. Other things are going on.
You’re probably stressed out at work and looking forward to your assignments back home. There are just so many things up in the air. If you add to this the hassle of moving, three things could happen.
One, you can break stuff in transit. Second, you can still leave things behind. Or worse yet, pack items that you didn’t need to pack. You’d be surprised as to how many ex-pats pay moving fees for materials that they could have sold or left behind in Singapore. It’s crazy.
You don’t have to do the same. You can spend that money doing something else. Hire a professional moving company. They will take care of all your headaches.
They will make sure that your stuff gets to where it needs to go. This way, you can get maximum peace of mind because you’re going to focus your mental firepower on other more important stuff.
Take care of the legalities
Before you even think of selling your home, make sure you get in touch with a conveyance lawyer or a real estate lawyer in Singapore. This person will specialize in real estate law.
They will walk you through the process of selling your home, what are the legal consequences, how much tax you have to pay, and what hidden fees are involved.
The last part is crucial because a lot of homeowners think that selling a home is a quick ticket to an instant payday. How awesome would that be if that were true?
It turns out that if you sell your home for a certain amount or you pass a certain threshold, you have to fill out a lot of paperwork, and you have to pay tax. Do yourself a big favor. Get in touch with a lawyer so you can structure the sale of your home the smart way.
By following the tips above, you can not only quickly liquidate your home in Singapore, but you can do it without burning a hole through your pocket or wasting a tremendous amount of time.
Stay tuned for Parc Central Residences. Interested buyers can now look at the CPF Housing Grants for EC /EC Eligibilities and book appointment to view the Parc Central Residences Price which will be announced in H2 2020. Meanwhile, you can check out more information at CPF website if you plan to use CPF for down payment or installment.