Buying Resale Properties in Singapore

Singapore is at the moment booming, and as allways, investors are hot in action to buy property for sale and resale. Buying real estate in Singapore needs a bunch of prior knowledge for the person to understand the procedures and legal requirements, etc. Investors or buyers interested in purchasing HDB flat should know the pitfalls before making an investment to avoid getting them into a tangle, financial or legal both, during agreement and transaction. Few major things before buying a property you should know are:

Real Estate Agent

Get yourself a good property estate agent who can provide you the services of selecting and buying a real estate. He should guide with the rest of the process of transaction.

Ensure the ownership

Before purchasing, ensure that you are buying the property from the original owner.

Eligible to Sell

Check and make sure the seller has the eligibility to sell his property and is not under any bank debt or mortgage. If that is the case then inquire about permission from the lender or bank to sell the property.

Eligible to Buy

There are strict rules for buying HDB flat or property so makes sure you have the eligibility to buy yourself. As for foreigner investors, there are some restrictions by the government of Singapore.

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