Should you walk into a showflat without an agent
Just like window shopping, it’s great to just stroll into a new condominium show-flat to take a look to see if anything grabs your attention, meets your budget, and presents a brand-new life ahead. Just like any retail shopping experience, the show-flats are manned by many eager sales agent willing to serve you, and even before you’ve stepped in, many will try to accost you along your walk towards the show-flat. But, what is different about buying a house, even a new house, is that there are many uncertainties that you will have to bear from signing that letter of intention to purchase until the day that you move in – these “risks” may not even be apparent from the get go. Having a trusted agent who understands your needs can go some way towards reducing them. In any case, the commission is paid to the agent by the developer and not by the buyer.
Ensuring your requirements are met
Agents at the show-flat probably know all about that specific property but their lack of understanding of your needs, may require a full repetition of your requirements at the various show-flats. Having a dedicated agent to serve you, will ensure not only a more objective presentation of the pros and cons, but they will also work closely with the developer team to better understand which stacks and units in the different developments best meet your needs, and to obtain timely information about potential competitors for the unit of your choice.
Following up when things go wrong
In the excitement of purchasing a new dream home, most people would not want to consider what-if things were not to go as planned. It is not rare for the development to not TOP (temporary occupation permit) on time. This has many implications for you as the buyer as you cannot move in until this is obtained. A reliable agent can support you in gaining greater certainty of what is happening.
Many people know that the actual unit they will be taking over, will not look exactly the same as the show-flat but many new owners do not know that they will have to carry out a defects check on their own when the fan or air-conditioning unit has not been installed. To complete the defects check during the defect liability period is especially important since within the developer is responsible for any defects within 12 months from the date of Notice of Vacant Possession. Oftentimes, a first time condominium buyer may not be sure what is considered good/bad quality. Having an experienced agent can help to reduce much headache down the stretch.
Rent out the property for investment
For investors, especially for individuals who may not reside in Singapore for most part of the year, having a trusted agent who can support you from the purchase through to the rental process, and who may even be able to provide real estate management services, will ensure a seamless process. This agent may also be able to provide advice on which new development best suits your investment criteria.
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