HOW TO SELL AND RENT OUT
SELLING GUIDE
| Step 1: | Hire a professional estate agent. Some criterias to consider:
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| Step 2: | Determine the price of your property. Get your estate agent to help with the valuation. |
| Step 3: | Consult a lawyer/ solicitor that is well versed in the selling process and paper work. Obtain an indication from the lawyer/ solicitor as to when is the best estimated time to engage them officially. |
| Step 4: | Communicate closely with your estate agent along the marketing period of your property. The estate agent should maximise the exposure of your propertyin the market via different marketing avenues and help to bring potential prospect for viewing. |
| Step 5: | When a concrete offer is received, the estate agent will communicate with you and assist to negotiate in arriving to an agreed purchase price. With that, the buyer will make an earnest deposit of 3% of the purchase price to secure the property. |
| Step 6: | Within 14 working days, the Sales & Purchase Agreement ("SPA") must be signed by the buyer and upon signing, the remaining balance deposit of 7% of the purchase price must be made. |
| Step 7: | The remaining 90% of the purchase price must be paid within 3 months from the date of SPA is signed. An extension of 30 days will be provided if necessary but with an interest rate of approximately 8% per annum. |
| Step 8: | Once all payment had been made and all related documents are finalised, the property will succesfully be transferred to the buyer. |
RENTING OUT GUIDE
| Step 1: | Hire a professional estate agent. Some criterias to consider:
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| Step 2: | Determine the rental rate of your premise with the help of your estate agent |
| Step 3: | Communicate closely with your estate agent along the marketing period of your premise. The estate agent should maximise the exposure of your premise in the market via different marketing avenues and help to bring potential tenant for viewing. |
| Step 4: | When a concrete offer is received, the estate agent will communicate with you and assist to negotiate in arriving to an agreed rental rate. With that, the tenant will make an earnest deposit of one (1) month to secure the premise. |
| Step 5: | Upon signing of Tenancy Agreement and prior to handling over of premise, the tenant has to pay balance of amount due such as:
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| Step 6: | Handling over of Premise to Tenant. |