Tips Page 02

HOME Tips Contact Me

OH NGIN HONG

Senior Marketing Director
CEA Reg: No. R023962G

ERA Realty Network Pte Ltd

Agency Licence: L3002382K

If you don’t have to sell in order to buy a new home, renting is one option to think about. Consider the advantages and disadvantages of renting your old house. A real estate salesperson can usually help to advise you on how much you can expect to charge to cover your mortgage payments and other costs you’ll entail as a landlord.

HOW DO I PRICE MY HOUSE?

In a word, realistically. Today’s residential real estate market is no place to look for easy profit. That’s not to say you can’t get what your house is worth. You just have to be realistic about its value, and price it accordingly. A good place to start is by determining the fair market value.

WHAT ABOUT MARKET CONDITIONS ~ PRICE TRENDS, INTEREST RATES, AND THE ECONOMY IN GENERAL? SHOULD THEY HAVE ANY BEARING ON WHEN I LIST?

Probably not. Even if you’re under no pressure to sell, waiting for better market conditions is not likely to increase your profit potential.

HOW LONG SHOULD IT TAKE TO SELL?

The average listing time is about 90 days, depending on the selling price, condition of the house, its location and buyer exposure. Selling in any market is easier if you keep time on your side. Most professionals will tell you that allowing yourself at least three months will put you in a position to get a better return from their marketing efforts.

If you don’t have to sell in order to buy a new home, renting is one

What if I am unable to sell my old house before I have to move?

This situation can arise for any number of reasons. For instance, getting the overseas posting you’ve been waiting for may mean having to relocate very quickly. Another example: you finally find your "dream home," and need to get it under contract before it’s sold to another buyer. Whatever the reason, don’t panic. You have some viable alternatives to the potential nightmare of double