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juxstapose

Do You Need An Agent Before You Can Buy Hdb Resale?

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Just bought a resale hdb on my own w/o buyers agent

Submitted my own resale hdb application online

Not difficult at all, it's all there on hdb website if you bother to find and read

Why pay 1% when you can DIY, but you must spend time to do your own

But one thing is true, you miss out those units sellers agent keep within their circles

I rather save my money for reno

canuck, congratulations on your DIY purchase!

I have been wanting to DIY but every agent I called on propertyguru are very helpful and want to represent me. So especially when want to view those units that the seller's agent somehow didn't put up in the internet but only the potential co-broker agent put up, I have no choice but to follow them around and promise them 1% if they are able to find my dream flat.

so far has anyone managed to nego for <1%?

 

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Absolutely can for buying!

When I went house-hunting and called up those agents who advertise, (when they found out that I got no agent to represent), they insist that they are buyer agent and that they have an agent that they are already co broking with.

So those houses, nvm, don't see lor.

Then there was this house on the market for the longest time, seller changed like 3-4 seller's agent.

Finally the last agent they had very buay gam wan but said "I don't care you DIY or you got agent, I collect my commission from seller only. you no agent, you do your own paper work"

So, fine, I DIY..

Then, when we were supposed to submit the resale application online.

(seller submit 1 and buyer submit 1 with a lot of scanned documents)

the seller agent realised that they did not sign the resale checklist which has to be downloaded from HDB website and signed and returned within 24 hours of downloading with a serial number.

and the resale application can only be submitted 7 days AFTER the date on the resale checklist!!

We got to delay booking our 1st appointment in 7 days... and my application fee which i paid by credit card online got forfeited.

The option to purchase and everything have to resign due to serial number discrepancy but the $1k and $4k cheque no need to re write.

So, have an agent is good but not a foolproof way to ensure they got all the paper work in order..

And then, during our appointments (HDB appointments, inspection for handover appointments), the agent keep coming late to the tune of 1-2 hours... he there or not, no diff lor.

But for selling, better to have agent. cos they are the ones with those property guru and iproperty accounts to post your property for sale and they are the ones with the advertising exposure..

 

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I am paying my agent < 1% coz he's friend of a family member. He has been very helpful and responsible. Thanks to him we got our ideal unit so soon.

 

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its really easy to DIY if you are buying - there are simple checklist on HDB website to follow (strictly).

save the money for reno, its a substantial amount!

 

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Im a seller, if I already have a potential buyer do I need to engage a agent?

U can DIY if you already has a buyer on hand.

Just go to HDB web and read thru the step by step.

Print out the doc

 

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After spending 5 weeks viewing houses, I have come to realise that it is indeed possible to buy HDB resale DIY but it depends on two things:

1) knowledge on HDB buying procedure - like most people have mentioned, this is the "easy" part if you diligently read HDB website / attend their resale seminar

and here comes the difficult part

2) luck (which also depends on how much cash you have for COV, how urgently you need a flat)

If you have these two factors, I sincerely congratulate you to be able to buy a resale flat DIY.

Personally, we have number 1 but not number 2. And so we switched to engaging agents. After experiencing how it is like in both worlds, I can tell you the pros and cons of engaging an agent.

Pros:

1) They have more listings within agency and between agencies. Many of these listings are not available publicly to DIY buyers.

2) A good agent is able to help you negotiate a lower COV

3) A good agent can arrange viewings back to back so that you can view more units than arranging them yourself.

Cons:

1) Most agents do not act in your best interest. They just sweet talk you, saying they will help you save money but in the end just tell you to increase offer and burst your budget.

2) As the buyer's agents we have encountered, were those we called up to arrange flat viewing, they usually just concentrate on that unit and not really be bothered to arrange more for you (cannot blame them since we didn't sign exclusivity with them)

All in all, among the 11 agents we met:

2 (seller agents) was sincere and willing to transact with DIY buyers

1 (buyer agent) was really good and helpful, truly act in our best interest

Rest of the seller's agents couldn't be bothered to even negotiate with us. Rest of the buyer's agents just want to close deal on the unit we viewed and/or no help in negotiating COV and/or didn't bother to bring us to view other units.

(This applies to the Tampines area)

 
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