Buying a house is a significant life event for every ordinary person. Especially after immigrating to Singapore, one must be more cautious to avoid being deceived in an unfamiliar environment. Below, I will discuss the nine major steps in the Singapore property purchase guide, hoping to assist friends who are immigrating to Singapore in their home buying process.
Step 1: Clarify the Purpose of Purchase and Prepare for Buying a House
1. Financial Preparation for Buying a House—How much money do you plan to spend on purchasing a property?
2. Psychological Preparation for Buying a House—Where do you want to settle down?
3. Knowledge Preparation for Buying a House—Become at least a semi-professional in real estate.
4. Choice Preparation for Buying a House—Research and gather information, and conduct on-site visits.
Step 2: Be Discerning and Select Property Sources
1. Price Selection—Compare personal affordability, transportation conditions, community environment, layout structure, and other factors to evaluate property prices.
2. Location Selection—Determine whether the property location is advantageous and meets various personal needs.
3. Area Selection—Consider economic capability and budget to appropriately handle the relationship between unit area and functionality.
4. Layout Structure—Choose a suitable layout structure based on usage functions and family factors, such as the number of occupants.
Step 3: Set a Target and Conduct On-Site Inspections
1. Property Documentation—Ensure that all property certificates are complete, as this determines the legality of the property and avoids many inconveniences in the future.
2. Property Quality—When buying a house, it is crucial that the quality of the purchased property is guaranteed; otherwise, no matter how cheap the price or ideal the orientation, it can lead to endless troubles and worries in life.
3. Surrounding Facilities—Community landscape, clubhouse, greenery, and supporting facilities are closely related to life and reflect the quality of the property.
Step 4: Sign the Purchase Agreement
1. Understand the progress of the development project and confirm that the developer has obtained the pre-sale permit.
2. The basic terms of the purchase agreement should be detailed, specifying the main conditions of the property to be purchased.
3. The terms must be legal and valid; request the developer to provide the formal sales contract for the property.
4. Buyers must be cautious when signing the deposit clause.
Step 5: Sign the Property Purchase Contract
Eight Important Considerations:
1. Regarding the Five Certificates
2. Regarding Shared Area
3. Regarding the Property Certificate
4. Regarding Written Notifications
5. Regarding the Location of the Sold Property
6. Regarding the Mortgage of the Sold Property
7. Regarding Property Management Regulations
8. Regarding the Scope of Responsibilities of All Parties
Step 6: Inspect the Property
1. Check for any cracks in the property.
2. Check for any tilting of the property.
3. Check for any leaks in the property.
4. Inspect the walls and floors.
5. Check whether the bathroom and kitchen floors have been properly sloped.
6. Inspect doors and windows.
Step 7: Handle Property Ownership Transfer
Documents Required:
1. Real Estate Transaction Application Form
2. Certificate of Authorization for Document Processing
3. Buyers with mortgages must also submit a property ownership certificate.
4. Copy of Identification Card
5. The pre-sale contract and related forms and documents will be uniformly obtained by the developer and guidance will be provided to buyers for completion.
