How can you sell your condo in Singapore and make a profit out of that

If a person, alone or along with family are relocating to Singapore for a job or for some other motive, he/she will always like to buy a place in the urban areas to live freely as well as to perform everyday's functions flawlessly. In Singapore, there are primarily a couple of options for housing, i.e. public housing, such as HDB flats and private housing, such as condominiums or condos. Now for purchasing public property, there are certain checkpoints and eligibility criteria one needs to follow, for example; the buyers' needs to be a citizen or permanent resident of Singapore. But for purchasing a private property there are no such hardcore regulations are applicable also, the foreigners can purchase private property in Singapore.

Condos for sale in Singapore:

So for the foreigners purchasing a condominium (condo) of Singapore is one of the best options of housing available herein. Now if you are having more than one property and desire to sell one of them in order to make some profit out of that, then you will need to know the selling procedures of condos, which is a much elaborated task and for that reason engaging a genuine property agent of Singapore will ease your work, who will guide and educate you regarding the entire process, i.e. the procedure to sell your condos in Singapore and for this purpose you need to go through the following procedures.

· Determine a selling price for your condo

You need to set an asking price for your property, which needs to be justified not too high or low, for that you can check the benchmark price of the similar properties from Urban Redevelopment Authority (URA). Also, keep in mind that your initial asking price can be negotiated down by the prospective buyers.

· Enlist your condo for sale

In order to reach your prospective buyers, the property agents of Singapore are a very useful option; through them, you can present your condo for sale to a wide range. Take some decent snapshot of your property, so that the buyers can clearly and easily visualize themselves living in that place. Also, the details of the atmosphere and neighboring place including nearest landmark is very important when you enlist your condo for sale in Singapore.

· Engage a property agent

Selling condos is open to foreigners, permanent residents and people of every nationality; hence a property agent will assist during the entire process, which includes displaying the place to the prospect buyers, negotiation of price as well as conveying the legal procedures.

· Grant option to purchase (OTP) and secure the booking fees

If you find yourself a buyer for your condo then you need to grant OTP for your buyer and collect the required booking fees from them. The Option to Purchase will also contain terms and conditions for selling of your condo, which should be confirmed by your buyer after checking all the documents and the place physically and after this, you should stop advertising for selling your condo in Singapore.

· Issue the purchase agreement

Once the option to purchase is confirmed by the buyer and the basic terms are completed you need to prepare the purchase agreement for your property, in which the property price with the exercise fees, stamp duty, and all other payables should be clearly mentioned.

Conclusions:

Now you are familiar with the entire process of condos for sale in Singapore from the aforementioned points, as condos are inviting and pleasant places to live in, thus anybody who is coming in Singapore for the living purpose will want to avail condos as their primary choice. Thus if you are having more than one property and intend to sell one unit to make a profit from your investment, then it won't be that much tough, as the demand for housing is increasing with the population. Now in order to find a suitable buyer you can engage a professional property agent as they pose a great knowledge and network in the real estate market. Also, he or she can help you during the selling procedure.