Is buying private property a good investment?

[Opps-gal]

not necessary in SG, can try Malaysia

Not sure how to do so. Lots of rules.

 

[Gaynor Lim]

Normal rate is 2% but It all depends between seller and agent

 

[existential_reality]

The big companies agents will also charge GST in addition, but yes the newer agent usually can bargain down the rate somewhat. The Lao Jiao ones would be harder to bargain down.

Normal rate is 2% but It all depends between seller and agent

 

[uniqlo]

So far I have not sold any properties before (only bought private properties) so not sure, only hear from agents!
As buyer of private properties, I don't have to pay any commission to the agent! All paid by the seller, and agent said they received 1% of the transacted price to be brokered between buyer and seller agents!
For HDB flats, I heard seller need to pay 2% commission and buyer need to pay 1% commission! Pity the HDB flat buyer (and also the HDB flat seller's higher commission)!

do you know the 1% commission for private and 2% commission for HDB is set in stone? I mean is it under sg law ?

u have 2% of 1 mil pinnacle at duxton is already 20K. Somemore agent usually don't do much work
those agent that manage to get commission 10-15k quick deal is like winning lottery

 

[uniqlo]

Normal rate is 2% but It all depends between seller and agent

The big companies agents will also charge GST in addition, but yes the newer agent usually can bargain down the rate somewhat. The Lao Jiao ones would be harder to bargain down.

is the rate negotiated before agent will advertise for seller?

what if want to offer only 0.5%? means agent will work less?

of course agent can reject to take up the case

 

[yoongf]

Agent comm not set in stone. Can nego anything. But too low also agent no heart do.
Free market forces.

 

[existential_reality]

Well lets say if the agent comes across a strong buyer, someone abit clueless with cash. They would rather bring them to some new development where developer is paying 3% commission rather than you're unit. So unless a buyer comes who sees your unit and insist thats the one for them then the balls in your court (job also easy for the agent).

You can try not having a sole agent and having multiple agents represent you but that also means no agent may be willing to fork out money to push your unit.

PS Agents usually have to fork out several thousands to advertise on prop guru. Boils down to quantum if you are selling a multi million dollar prop then maybe can nego down quite abit but if couple of hundred grand and low comms if you were in their shoes you prob would also push your sellers somewhere else just saying.

is the rate negotiated before agent will advertise for seller?

what if want to offer only 0.5%? means agent will work less?

of course agent can reject to take up the case

 

[microtek]

is the rate negotiated before agent will advertise for seller?

what if want to offer only 0.5%? means agent will work less?

of course agent can reject to take up the case

If your property is $10 million, you offer 0.5% comm agent will sure accept. Your property is worth only $300K and you offer only 0.5% comm don't expect any agent to do much work for you to push your unit. Agents might not even want to bother to take your case.

 

[mummy1234]

If your property is $10 million, you offer 0.5% comm agent will sure accept. Your property is worth only $300K and you offer only 0.5% comm don't expect any agent to do much work for you to push your unit. Agents might not even want to bother to take your case.

We gave our agent 3% commission to sell our MM fast as we needed to claim back our absd of S$88k.

Already paid or paying close to S$40k in commission selling 2 properties this year. But overall we made a good profit still.

O.5% commission for selling a S$300k property is only S$1500. Not worth the agent's efforts probably.

 

[SBC]

We gave our agent 3% commission to sell our MM fast as we needed to claim back our absd of S$88k.

Already paid or paying close to S$40k in commission selling 2 properties this year. But overall we made a good profit still.

O.5% commission for selling a S$300k property is only S$1500. Not worth the agent's efforts probably.

Good move to offer 3% comm for your MM unit.
Is the transaction complete now?

 

[mummy1234]

Good move to offer 3% comm for your MM unit.
Is the transaction complete now?

Buyer already exercised option and we have submitted our refund request amd IRAS has acknowledged. Says within 30 days usually can process...

 

[mummy1234]

Agent told us after we signed that there were sellers offering even higher commission to him.

 

[cscs3]

Agent told us after we signed that there were sellers offering even higher commission to him.

The biggest mistake is to take a salesman word. Ask him to go ahead!

 

[Hh2019]

Does anyone know if ec after 5 years can change to only single name owner?

 

[Hh2019]

My ec is coming up to 5 year this mar 2019. I’m thinking of transferring to my Husband so that we can buy a second property withou absd.

 

[SBC]

My ec is coming up to 5 year this mar 2019. I’m thinking of transferring to my Husband so that we can buy a second property withou absd.

EC at Buangkok? My tai liao. Just do it.

 

[Nofear40]

We gave our agent 3% commission to sell our MM fast as we needed to claim back our absd of S$88k.

Already paid or paying close to S$40k in commission selling 2 properties this year. But overall we made a good profit still.

O.5% commission for selling a S$300k property is only S$1500. Not worth the agent's efforts probably.

The $88K ABSD is on your new condo?

 

[Midlifecrisis]

My ec is coming up to 5 year this mar 2019. I’m thinking of transferring to my Husband so that we can buy a second property withou absd.

Note that transfer of current property will incur stamp duty but definitely lower than the absd you have to pay for 2nd property especially if the 2nd property cost as much or more than the current one being transferred

 

[mummy1234]

The $88K ABSD is on your new condo?

Yes it is. Already got it refunded though.

 

[SBC]

Yes it is. Already got it refunded though.

Mummy is v cash rich now. Any new plan for investment in 2019?