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Reason 101- Your Real Estate Agents Steers You Away From Bad Transactions
In Singapore, there are structures or buildings whose owners are facing mortgage problems and some are already in receivership stage. While these buildings can still be traded in the real estate markets, there are specific requirements and processes that must be done and studied well, in order to take advantage of good pricing.
Real estate agents are trained to process this kind of transaction. This time, realtors do not deal with the owner of the property, but now directly from the financial institution that foreclosed the property. Buildings that are on receivership or had been foreclosed also have their own pricing cap and standard within the industry. Realtors have mastered this process. They have first-hand information on the state of foreclosed properties and other details.
Buying a property that is already under receivership is different from dealing with properties which are put in the market by the owner themselves. Although the real estate agent is constantly in contact with the property owner, close monitoring is also important in the receivership process.
Considering the fact that documents and information are all computer-generated, it is the real estate agent’s ultimate job is to re-check and re-examine if the documents are genuine and not fabricated in order to attract buyers. I To assist this activity, a broker is skilled enough to administer any work to be done in this kind of transaction. For starters, real estate agents serve as the intermediary channel between the client and the seller. Realtors are willing to give their clients’ the best service possible, and even give sound advice and suggestion to make a transaction successful.
In dealing with properties under receivership, it entails a lot of documentation that require in-depth know-how. Obtaining even a single document is not easy. Realtors on the other hand, can make easier way to get the documents done and released on time.
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Billy Chen
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Tel: (+65) 88689999
Fax: (+65) 64021826
billy@billychen71.com
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