Property Selling Tip # 5: Completion of Sales

What if your Buyer requests to delay the Sales Completion date? The Sales Completion date is determined by both the Buyer and Seller when they enter into the Option to Purchase (OTP) contract.The date for the Completion of Sales is usually 8 to 12 weeks from the OTP date and this can vary as long…

Property Selling Tip #4: Seller Stamp Duty

At the time of this writing, a Seller Stamp Duty (SSD) is applicable for the below situations: (1)    If you property is bought between 30 August 2010 to 12 January 2011, the following SSD applies: 3% of price or market value if the property is sold within the first year. 2% of price or market…

Property Selling Tip #3: Option Fees

When selling your property, do note that once you accept the 1% Option Fee and issue the Option to Purchase (OTP) to the Buyer, you have to fulfill your contractual duty to reserve the unit to be sold to this Buyer. Your Buyer has anagreed upon period of time, usually 14 days, to pay the…

Property Selling Tip #2: Increase the Value of your Property

Besides benefitting from the impact of hedging against inflation, you can increase the value of your property via some cost effective methods. One of them is to do some simple renovation such as patching up cracks, re-painting, epoxy-coating, and re-lamination,instead of major renovation,to give the property a new look. You can also re-install fittings such…

Property Selling Tip #1: All Markets are Cyclical

Investing in real estate requires patience but the rewards are immense.Once you have invested a sum of money as downpayment for a property, it is possible to have two-fold gains from both capital appreciation and rental income. The rental income is a good source of income to reduce or cover your monthly mortgage loan repayments,…

Property Renting Tip #10: Rental Income from Property

(Reference: www.iras.gov.sg) Rental income is taxable in Singapore.However, there are expenses that you can deduct from your rental income: Interest on mortgage loan Property tax Fire insurance Commission paid on getting a subsequent Tenant Cost of renewing a lease or getting a new Tenant and General repairs and monthly maintenance charges paid to the Management…