Buying a HDB resale flat

The Housing development board (HDB) in Singapore has developed a large number of flats which are affordably priced. However, applying for and purchasing a hdb flat is a time consuming process since there are a large number of buyers interested in purchasing a limited number of flats available. Additionally there are limits for the income of the buyer. Hence, home buyers in Singapore who have a limited budget often prefer to buy an hdb resale flat, since these flats are readily available and there are fewer restrictions. However, it is advisable to use the services of a reliable agent, homepropertyagent buying hdb resale flat, for multiple reasons which are discussed below.

Legal issues

The hdb flat is usually the most expensive investment of the homeowner, and he has often taken a home loan to purchase the flat. This home loan may be only partly paid when the property is listed for resale. Additionally there may be other legal disputes regarding the property, which a prospective buyer may not be aware of, if he chooses to purchase the property directly. A well established real estate agent is aware of the legal issues which could affect the property sale, so he will check court records and financial history of the flat to ensure that the buyer does not face any problem.

Better selection

Most home buyers are professionals or business owners who are busy with their work and do not have much time to spend searching for property listings. Also these buyers will usually only search the major property websites in Singapore for resale flats. However, there may be better deals for resale flats which are available only with the property agent or on social media. Since property agents are focusing only on selling and purchasing homes in Singapore, they will usually have a larger database of properties, especially HDB flats available for sale. The agent will also inform the buyer of the latest sales in the area.

Saving time

Browsing through hundreds of property listings to compare the specifications and prices of HDB flats available is very time consuming. By directly contacting the agent, the buyer can save many hours of time. The buyer will only have to specify his requirement for the HDB flat, like the location, area, amenities and budget, and the agent will inform the buyer of the flats which are available. Usually there are less than ten flats which meet the criteria of the buyer, and he can check the details of each flat quickly to decide which is the most suitable flat for him.

Completing property purchase

The property agent will often help the buyer negotiate with the seller to get the best possible price. Typically the price of the older hdb flats is lower, since they are constructed on leasehold property. One of the reasons why most resale HDB flat buyers prefer to use the services of a reliable property agent is that their legal team will complete all the paperwork which is specified by the HDB for transferring ownership of the flat. The flat buyer will only have to make the payment, sign the relevant documents and take possession.