Do I need an agent to by resale HDB?

[tidiii]

While it is possible to diy and do the paperwork on your own to buy a resale HDB, does it make sense to engage an agent to help you source for a flat?

Was told that the agent can help to negotiate for a better deal, and when there are multiple offers, the agent can help to clinch the deal should all buyers offer the same price.

It just doesn't make sense. Seller agent promise to sell as high as possible, buyer agent promise to negotiate as much as possible. Someone has to give in eventually.

So as a DIY buyer, how do u ensure that u are not paying too much COV and how do u stand out among all the other buyers while ensuring that u are not over paying?

there is no paperwork that requires an agent

if u can somehow manage to source out a ppty without an agent for buyer n sell, u jus need a lawyer to do cvy, jus talk to your lawyer

anyway if ur buying, the seller will pay agent anyway usually

 

[mgx-alander]

I plan to buy without agent... if u think i not srs then mybfd

 

[Laneige]

But how u negotiate from the listed price? How do u know much how to offer without looking like a carousell low baller?

Sometimes the prices is ppl adjusted liao n not going to move anymore
So if u still low ball then is when u not in a hurry to buy a gd unit when u spot one

eg buyer low ball buyer then buyer DL n decided to just list the price counter offer to the potential buyer
As in want to take, take
Don’t want to take then open to all to come n see n offer
Can be higher or lower etc

 

[JustForFun]

I just bought a resale without agent. Buying don't really need agent at all.

I sold my flat unit with a flat rate $1999 agent within 1 month much above valuation.

 

[ProLogic]

While it is possible to diy and do the paperwork on your own to buy a resale HDB, does it make sense to engage an agent to help you source for a flat?

Was told that the agent can help to negotiate for a better deal, and when there are multiple offers, the agent can help to clinch the deal should all buyers offer the same price.

It just doesn't make sense. Seller agent promise to sell as high as possible, buyer agent promise to negotiate as much as possible. Someone has to give in eventually.

So as a DIY buyer, how do u ensure that u are not paying too much COV and how do u stand out among all the other buyers while ensuring that u are not over paying?

Tiagong there ish no way to know that at all until after the fact. Chiu ish just need to stick to chiur own max offer price and notch get into a bidding war with other buyers, unless chiu die die must get that unit and end up offering a high offer price, but if do that then dontch regret later on.

 

[Faux Pas]

Bought one without Cov, my advice is target certain 1 or 2 areas. Know the prices and demand well and be quick to go for viewing. You will know the demand by trying to offer for multiple units and see how fast they go at propertyguru. Once you can gauge the price, give them a fair offer.

 

[ahyeo]

Bought one without Cov, my advice is target certain 1 or 2 areas. Know the prices and demand well and be quick to go for viewing. You will know the demand by trying to offer for multiple units and see how fast they go at propertyguru. Once you can gauge the price, give them a fair offer.

So the prices listed on propertyguru is all include COv. Is it a common practice that is usually around X%? So I have some baseline.

 

[Raelight]

Same as buying illiquid stock . Bid and sell price.

If u are top super negotiator and can wait u Q to buy at bid price.

Otherwise if dun wan wait just buy at the sell price. Becos other ppl may just snatch it

 

[yuri2]

When I was selling my first flat through an agent, I got a few viewers who offered low price. I was discouraged for a few months. Then by word of mouth, a buyer shows up and really like my place. Offer me what I asked for without negotiation. So it depends on your luck, not necessary you get the best deal with agent. And I saved agent fee at the same time.

I did the same when buying my replacement flat. Offer the guy what he wants and instantly clinched the deal, without agent.

But you need to do work.

Doing the paperwork at hdb is not difficult. You just need to read up on their website what to do. Well, this is what agents do too.

 

[LatentBlack]

I bought without an agent, hdb has a very clear and simple list of steps that you can follow to complete the sale yourself. The seller agent will also prompt you to help you abit as it is in their interest to complete the sale.

 

[linzw00]

I bought diy, then i hv to deal with the nonsense of the seller agent. Zero pr skill towards buyers, just side with the seller.

 

[GuiGuZi]

Buyer don't need agent. The paperwork are straightforward, just follow HDB website. If unsure the seller agent will advise you. But read up the homeseeker subforum for resale advices, take note of things like extension of stay etc that needs to be negotiated before closing the deal.

 

[Faux Pas]

So the prices listed on propertyguru is all include COv. Is it a common practice that is usually around X%? So I have some baseline.

Cov= cash over valuation. The valuation would be the price given by hdb themselves, if u r offering higher than ‘market value’, they would indicate the valuation price. Whatever the difference you will need to pay by cash
Agents have a pretty good gauge, I believe they have third party company doing all these valuation prices which is not 100% accurate
Of course if it is well renovated the sellers would want to ask for more hence Cov may be justified

 

[zueinder]

First time okay lah. After that, really is just convenience fee and sometimes agent is work against you. Dunno sia, edmw always talk big but actually all poor af. Whole life at max buy 1 or 2 house.

 

[LatentBlack]

The approximate market price of a unit is widely known, so I'm uncertain about the extent to which an agent can provide additional value.

During the sale of my previous unit, we engaged three different agents over a period of a few months. We set a high asking price, which made it challenging to secure a deal, resulting in only a few offers. The eventual buyer had submitted offers through all three agents. Hence, the final agent earned their commission simply by being in the right place at the right time.

When people are buying homes, they prioritise the unit itself rather than the agent facilitating the transaction.

 

[regionmaster]

The point of agent is to help seller get a better price, the seller pay 1% agent fee but if agent help them get 5% higher price

Win win on both side

 

[PCguy]

If you are a buyer, those selling agent don't want to talk to you if you have no agent.

 

[AUTUMN&WINTER]

If you are a buyer, those selling agent don't want to talk to you if you have no agent.

Why? Is it the agents are helping each other to secure their rice bowl?

 

[joeey]

No need agents. I did mine all on my own years ago.

 

[articland05]

moi diy buy...
as long as chiu know how to use singpass can liao