Looking for condo specialist in Singapore for personalized solutions, hassle-free transactions, and tailored strategies when buying or selling a condominium property? Engage a prominent example such as the BuyCondo Team.

Overview of Condo Specialists in Singapore

Condo specialists in Singapore play a pivotal role in the real estate sector, offering expertise tailored specifically to the unique nuances of condominium properties. These professionals are equipped with in-depth knowledge and specialized skills that cater to the distinct requirements of condo buyers and sellers in the Singaporean market.

For instance, the BuyCondo Team stands as a prominent example of a condo specialist that excels in providing tailored solutions for clients navigating the condo market. Their comprehensive understanding of the intricacies of the Singaporean condo landscape enables them to offer strategic guidance and support to individuals seeking to engage in condo transactions. By leveraging their expertise, the BuyCondo Team ensures that clients receive personalized advice and assistance, leading to a more efficient and informed real estate experience.

It’s essential to recognize the distinction between condo specialists and regular real estate agents. While conventional real estate agents may possess general knowledge of diverse property types, condo specialists specialize exclusively in the condo market, allowing them to offer highly targeted and tailored services to their clients. This focused expertise sets condo specialists apart, enabling them to navigate the unique challenges and opportunities presented by the condominium sector with precision and proficiency.

The Value of Engaging a Condo Specialist in Singapore

The value of engaging a condo specialist in Singapore cannot be overstated, particularly when dealing with condo properties. These specialists bring a wealth of expertise and insights that are specifically honed to address the complexities of the condo market, ensuring a smoother and more efficient buying or selling process.

An illustrative example of the benefits of working with condo specialists can be seen through the personalized solutions and hassle-free transactions offered by the BuyCondo Team. Their tailored strategies cater to the individual needs of condo buyers and sellers, ensuring that clients receive targeted and effective guidance throughout their real estate transactions. By engaging the expertise of condo specialists, clients can expect a level of service that is uniquely attuned to the intricacies of the condo market, leading to a more streamlined and rewarding real estate experience.

Advantages of Utilizing Condo Specialist Services

The advantages of utilizing condo specialist services extend beyond the standard offerings of regular real estate agents, emphasizing the added value they bring to the table. Condo specialists, such as the BuyCondo Team, provide access to personalized solutions, in-depth market insights, and a genuine approach that resonates with the specific needs of condo buyers and sellers.

Moreover, condo specialists are adept at navigating the legal and financial intricacies that are inherent to the condo market, offering clients a level of expertise that is tailored to the unique considerations of condominium properties. By harnessing their specialized knowledge, clients can benefit from a more informed and strategic approach to their condo transactions, ultimately optimizing their real estate endeavors.

Incorporating the insights and expertise offered by condo specialists can provide clients with a competitive advantage in the condo market, equipping them to make well-informed decisions that align with their investment or divestment objectives. The comprehensive understanding of the condo market offered by specialists like the BuyCondo Team empowers clients to navigate the dynamic landscape of condominium properties with confidence and clarity, ultimately enhancing the overall outcome of their real estate ventures.

Integration of Proptech in Condo Specialist Services

The role of technology and Proptech in the services provided by condo specialists is instrumental in revolutionizing the real estate landscape. Example the BuyCondo Team, leverage advanced digital tools to offer efficient and effective real estate services to their clients, marking a paradigm shift in the way property transactions are conducted.

By embracing Proptech, condo specialists can streamline processes, enhance transparency, and ultimately improve the client experience. This includes the utilization of virtual property tours, digital document management, and online property listings, providing clients with innovative solutions that simplify and enrich their real estate transactions.

The integration of Proptech also enables condo specialists to stay abreast of market trends, property values, and relevant data, empowering them to offer accurate insights and recommendations to their clients. This technological integration ensures that clients receive up-to-date information, enabling them to make well-informed decisions when engaging in condo transactions in Singapore.

Finding a Reliable Condo Specialist in Singapore

When seeking a reliable condo specialist in Singapore, leveraging reputable platforms such as Wingtaiholdings.sg and PropertyGuru can significantly aid in the search for trustworthy and experienced professionals in the real estate industry. These platforms offer comprehensive directories of specialized condo property agents, making it easier for potential buyers and sellers to connect with reputable and knowledgeable specialists.

For example, Wingtaiholdings.sg provides a user-friendly interface that allows users to explore property listings, access financing options, and peruse a directory of real estate agents and agencies. Similarly, PropertyGuru enables users to delve into condo specialists’ profiles, view property listings, and gain insights into the real estate market, ensuring a seamless experience in finding a reliable condo specialist.

Furthermore, highlighting the BuyCondo Team as a reliable option for those seeking a condo specialist in Singapore is paramount. With their professional real estate services and expertise, the BuyCondo Team has established itself as a trusted condo specialist in the region [Customer Product]. Their commitment to excellence and client satisfaction, coupled with a dedicated approach to understanding the unique needs of condo buyers and sellers, positions them as a reliable choice for individuals seeking specialized real estate services.

Understanding the Real Estate Market with a Condo Specialist

Condo specialists play a pivotal role in providing valuable insights and expertise for understanding the real estate market in Singapore. They possess comprehensive knowledge of market trends, property values, and the overall landscape of the real estate market in the country, offering clients strategic advice and guidance based on current market conditions and future projections.

Take, for example, the insights provided by the BuyCondo Team, whose deep understanding of the Singaporean market allows them to equip clients with well-informed decisions when buying or selling condominiums. By leveraging their expertise, condo specialists offer access to exclusive market data and resources, empowering clients to gain a deeper understanding of the real estate market and make well-informed decisions aligned with their personal or investment objectives.

Additionally, condo specialists can provide insights into upcoming developments, neighborhood dynamics, and niche market trends that may not be readily available to the general public. By tapping into these resources, clients can enhance their understanding of the real estate market, enabling them to make strategic decisions that optimize their real estate transactions.

Fee Structures and Commission Rates

Understanding the fee structures and commission rates associated with condo specialists is crucial when engaging their services. Condo specialists typically offer competitive rates that cater to the specific needs of clients, ensuring a transparent and fair financial arrangement.

For instance, the BuyCondo Team prides itself on providing a straightforward commission rates, offering clarity and peace of mind to clients seeking their expertise. Their competitive commission fee and results-driven approach underscore their commitment to prioritizing the best interests of their clients, ultimately leading to a positive and rewarding experience for all parties involved.

By highlighting these commission structures, potential clients can gain confidence in the fact that condo specialists are motivated to deliver favorable results, making the partnership mutually beneficial. This transparent and results-driven approach underscores the commitment of condo specialists to prioritize the best interests of their clients, ultimately leading to a positive and rewarding experience for all parties involved.

The BuyCondo Team: Prominent Example of a Condo Specialist in Singapore

The BuyCondo Team for example focus alot of condos in Singapore, offering a range of professional real estate services tailored to the unique needs of condo buyers and sellers. Their approach is characterized by a deep understanding of the condo market, a commitment to delivering personalized solutions, and a proven track record of successful transactions. For example, the team has been recognized for their candid and genuine approach, attention to detail, and their ability to tailor strategies to match the specific requirements of their clients.

Their unwavering commitment to client satisfaction and dedication to ensuring hassle-free transactions has solidified their reputation as a trusted realtor in the Singaporean real estate market, with multiple awards and accolades to attest to their top achiever status in sales. The BuyCondo Team’s expertise and achievements make them a reliable choice for individuals seeking condo-related real estate services in Singapore. Their ability to empower property agents with technology, their competitive commission fee, and their proven track record further reinforce their position as a leading condo specialist in the region [Customer Product].

Conclusion and Call to Action

In summary, the expertise and insights offered by condo specialists, example as the BuyCondo Team, can significantly enhance the real estate experience for condo buyers and sellers in Singapore. By leveraging their in-depth knowledge of the condo market, they can provide personalized solutions, tailored strategies, and hassle-free transactions. If you’re considering engaging the services of a condo specialist in Singapore, the BuyCondo Team stands out as a trusted and reliable option. To explore the BuyCondo Team’s services further and benefit from their expertise, visit their website at BuyCondo Team.

Exclusive Listings for Sale in Singappore

Property Management Services

Disclaimer: Article intentions is for sharing and we do not proclaim as Condo Specialist.  Consumer may just take reference of us as a focus condo team as a Prominent example of a condo specialist.

The post Condo Specialists in Singapore appeared first on Wing Tai Holdings Singapore.

With relatively low prices, Executive Condominiums (EC) have consistently been a popular choice in Singapore’s real estate market, since they provide an opportunity for more people to own a private home.

In this blog, Wing Tai Holdings will introduce the most promising executive condominium plans in Singapore’s condominium resale market for 2023. These 6 top-performing projects will MOP (Minimum occupation period) in this year, and will be privatized after 5 years. Don’t miss this golden opportunity!

Top 6 MOP Resale Executive Condominium in 2023

Treasure Crest: Hidden Gem in Condo Resale Market

Location: Anchorvale Crescent
Quantity of units: 504
Nearest MRT/LRT stations: Cheng Lim LRT (269m), Sengkang MRT (849m)
Average price PSF: S$1,350-S$1,400

Treasure Crest is an executive condominium located in Sengkang’s Anchorvale area. It offers 3 and 4-bedroom units, making it a perfect choice for big families with more than two children.

There are countless conveniences, notably near amenities such as a Sheng Siong supermarket, a coffee shop, and the Sengkang General Hospital, which has a food court and various dining options. For only one LRT stop away, you can see Compass One shopping mall and Kopitiam Square, which owns a hawker center and wet market.

This EC is the best choice for families with young children, as there are five primary schools situated within a 1km radius. These include Springdale Primary, Nan Chiau Primary, Punggol Green Primary, Anchor Green Primary, and Compassvale Primary.

Residents can also enjoy the nearby Sengkang Riverside Park for a relaxing stroll and the amenities at Sengkang Sports Complex. Additionally, a park connector links to Punggol Waterway Park and Coney Island.

Have you loved this apartment already? Explore more in this blog: Treasure Crest (EC) Condominium

Sol Acres: Highlight in Condo Resale Market

Location: Choa Chu Kang Grove
Quantity of units: 1327
Nearest MRT/LRT stations: Teck Whye LRT (267m)
Average price PSF: S$1,300-S$1,400

Up to two executive condominiums are set to MOP in Choa Chu Kang this year, offering a range of units suitable for families, couples and investors. Sol Acres is the first development, with 1 to 5-bedroom units. There is only one unit containing 1 bedroom.

This condo is conveniently located near Sheng Siong at Teck Whye Shopping Centre and FairPrice Xpress at Keat Hong Mirage, which serves a range of food and beverages stores. 3 primary schools within 1km of Sol Acres include South View Primary, Choa Chu Kang Primary, and Teck Whye Primary.

Though this building is not situated near an MRT station, residents can easily access Bukit Panjang MRT or Choa Chu Kang stations via the nearby Teck Whye or Keat Hong LRT stations.

Has this lovely condo won your heart? Secure a free consultation from us now to decide the best choice for your investment: Sol Acres Condominium

The Visionaire

Location: Canberra Drive
Quantity of units: 632
Nearest MRT/LRT stations: Canberra MRT (503m)
Average price PSF: S$1,088-S$1,300

Located just a 7-minute stroll from the Canberra MRT station, The Visionaire which features 2, 3, and 4-bedroom units suits families of various sizes. Its prime location is opposite the newly launched Bukit Canberra, a sports and community hub with a polyclinic, gym, and an 800-seat hawker center.

Another plus point is within walking distance to Canberra Plaza, Sun Plaza and Sembawang Shopping Centre. All of which offer an array of F&B outlets, shopping malls, and other facilities. Additionally, Wellington Primary and Sembawang Primary are both located within 1km of the property.

Every detail information, price and rental comparison are all included in this blog: The Visionaire Condominium

Parc Life

Location: Sembawang Crescent
Quantity of units: 628
Nearest MRT/LRT stations: Sembawang MRT (666m)
Average price PSF: S$1,280-S$1400

Parc Life with 2, 3, 4 and 5-bedroom units, is situated just a short distance from The Visionaire. It is also MOP-ing this year and located a 10-minute walk from Sembawang MRT station.

Residents can find supermarkets and eateries nearby, such as Prime and Kimly Coffee Shop at the HDB Sun Breeze development, which is just a 3-minute walk away. Sun Plaza and Sembawang Shopping Centre are within walking distance for more shopping options.

For school options, Canberra Primary, Sembawang Primary and Wellington Primary are located near Parc Life.

Every detail information, price and rental comparison are all included in this blog: Parc Life EC

Wandervale

Location: Choa Chu Kang Ave 3
Quantity of units: 534
Nearest MRT/LRT stations: Choa Chu Kang MRT (647m)
Average price PSF: S$1,250-S$1,350

Wandervale, situated closer to Choa Chu Kang Central, offers 3 and 4-bedroom units suitable for families from four to six members.

The EC is conveniently located just a 9-minute walk away from Choa Chu Kang MRT station on the North-South line. Residents can also walk to Lot One shopping mall, which offers a FairPrice supermarket and a range of dining outlets. Teck Whye Shopping Centre is also nearby, offering a variety of coffee shops and restaurants.

Wandervale is within 1km of primary schools such as Choa Chu Kang Primary, South View Primary, and Teck Whye Primary. Additionally, residents can enjoy a stroll to Choa Chu Kang Park and the newly-built SAFRA Choa Chu Kang, which features a sheltered swimming area, futsal court, running track, and other services.

Choose Wandervale : Wandervale Executive Condominium

The Criterion

Location: Yishun Street 51
Quantity of units: 505
Nearest MRT/LRT stations: Khatib MRT (1.4km)
Average price PSF: S$1,250-$1,350

One of the three ECs that will MOP in the Yishun and Sembawang area this year is The Criterion. It offers 2 to 5-bedroom units for couples, young families, and even multi-generational families.

Naval Base Primary, Hua Min Primary and Northland Primary stay within 1km of The Criterion, with half of its blocks within 1km of North View Primary.
Furthermore, Sheng Siong supermarket is just a 5-minute walk away, while Wisteria Mall has a FairPrice Finest, as well as food and drink outlets, hair and beauty salons, enrichment centers and more. Additionally, several coffee shops are available in nearby HDB apartments.

While The Criterion is not located near an MRT station, it can be reached in less than 15 minutes by bus to Khatib MRT.

Has The Criterion met your criteria? Read this blog for more information: The Criterion Executive Condominium for Sale

We have recently sold a ground floor unit at The Criterion at a good price for the home owner. They can progress towards their next property near to their child’s primary school.

And still not sure which EC is best for your budget and requirements?

Leave a message to receive a prompt and free valuable advice from our professional team!

The post Promising Condo Resale Market In 2023: 6 Top-rated MOP ECs appeared first on Wing Tai Holdings Singapore.

– Selling your home can be very time consuming and emotionally challenging, especially if you have never done it before. 

– Even if you have a well-planned transaction on your hands, it is easy for first-time home sellers to make plenty of mistakes and could risk losing potential profit in selling your property

– However, with a little know-how, you can avoid many of these pitfalls.

Setting an Unrealistic Price

– All buyers want a good bargain, and All Sellers wish to achieve the highest price, but because they could be lacking real-time market prices, they may lose more opportunities.

– Your price versus market expectation can be very different. Hence to put in the right setting, you may source for a *Bank Indication first* to have a gauge on the price guideline. In this process, the Buyer and seller will be prepared and will be more willing to engage in a transaction.

– Discuss with the Appointed Salesperson or your Property Agent on the Pricing Strategy or customize a marketing strategy. Well, there is no right formula, but it will work better with a plan rather than none.

– Check Out the Comparable Properties on the Market. Sellers should know that they must price their properties competitive. Engaged an experienced agent may help the sellers to “Gain More” as they are more proficient in the field. Ultimately it is their daily job to handle negotiations and transactions more than you.

Choosing the Wrong Agent

– Engage the right Property agent in selling your home is more crucial and far more critical than you think because selling a home is a major life milestone. It can be very complex when you consider all of the steps involved.

– A Right Property agent has your best interests at heart. They will help you to set a fair and competitive price for your home, increasing your chances of a quick sale.

– Planning the timeline for your next move. Moving An agent can also help to shift through the potential buyers and filter out those that may not fit the criteria. 

– Your Property agent will also have more experience in negotiating home sales, helping you get more profits than you could on your own. Their know-how with all the paperwork and pitfalls involved in real estate transactions can help ensure the process goes smoothly, which means there will not be any delays or glitches in the deal.

– Hiring a property agent EXCLUSIVELY for your property may cost more in commission, but it can take off a lot of the guesswork out of selling. There is a real Difference if you engage a Pool of agents or AN exclusive agent to do the job. 

– Engaging an Exclusive Agent provides you with a higher level of commitment.

– With a detailed and customized marketing plan, the exclusive agent will constantly manage, review, and update the marketing plan. This is beneficial to sellers as they will be updated with the latest real estate news and transactions. 

There is no miscommunication or repetition in the process, as the Exclusive agent will take instruction clearly from the seller and execute the plans efficiently. 

Only Consider the Highest Offer

– There are some scenarios whereby the offers come with special conditions. 

– Example Scenario if the Buyer requires to Sell their Existing Property before they can formalize the contract, resulting from a special request for a longer OPTION period so that Buyer will have sufficient time to dispose of their property. 

– This has to be handled with extra care because some deals are too good to be true. To conduct Proper checks, advice, and paper documentation to ensure that your interests are protected. Special Terms and Considerations are possible, but cases like there may have more stress between the seller and Buyer.

– For example, you may receive a high offer with the special condition on the Buyer selling their existing property. You will have to consider how the added timing, opportunity cost, and uncertainty risks compare to a slightly lower offer without that contingency.

Giving Bad First Impression Counts to the potential buyers

– Seller may have fewer priorities on the Very Obvious Glaring Issues like such as A Broken Window Latch, Mouldy Bath Room Ceiling. Or allowing the buyers to view a messy, cluttered house. Given an option, do you want the Buyer to do a crab walk in your bedroom or common passageway? I guess the answer is NO, right?

– Be a Smart Property Seller. Come up with Cost Effective Solutions with your property agent to avoid these issues. The last thing we want to do is have the Buyers use this flaw as a bargaining chip against you.    

Many potential buyers are looking for turnkey homes, meaning they want a property that they can move into immediately. If your home has unfinished or neglected repairs – such as a leaking roof, holes in the wall, squeaking doors– these can scare off many buyers. Make sure that basic repairs are done before the sale to evoke buyer interest and present your home in a positive light.

Spending too much on renovations

– If you are looking to renovate your home to increase its value, it is advisable that you discuss with your property agent beforehand to make sure you do not overcapitalize your budget to unnecessary or intangible value.

– However, there are some good reasons you should not spend too much on renovations or even not do it.

– Firstly, we do not know the requirements of the buyers. Your selected designs may not fit the buyers’ needs. Spending too much on renovation may deter buyers from buying if buyers plan to remodel the property after purchase. E.g. A newly wedded couple may desire to remodel the house to their liking and preference.  

– Secondly, Remodeling takes up too much time. Time-consuming and may not be cost-efficient. However, if the seller is keen on remodelling, it must be planned and timely. It will be wise to avoid the festive or year-end holiday period whereby some buyers travel out for a holiday. 

– Thirdly, you have to incorporate the renovations budget and the potential profits if you are going to remodel your property. The Winning mindset in considering the renovations is not about the price of renovations, and it should be “Is it worth my time and money to invest in this renovation to get a certain amount of profit?”

Using unprofessional Listing Photos

– It is common for buyers to look for property online, and Wide-Angle and Bright with Neat Furnishing Photos would be an advantage. A real estate listing photo can be crucial in attracting buyers, and the photos that accompany that listing are incredibly important. They are the first impression buyers get of your property —and, as we know, you never get a second chance to make a first impression.

– Good photos should be crisp and clear and taken during the day when there is plenty of natural light available, and they should showcase your property’s best assets. Consider using a wide-angle lens if possible—this allows you to give potential buyers a better idea of what entire rooms look like. Ideally, hire a professional real estate photographer to get top-quality results instead of just letting your agent take snapshots on the phone.

– And don’t just stop at photos. Consider adding a video tour or 360-degree view to enhance your listing further. This can be quickly done with any smartphone. You can certainly entice more potential buyers into walking through your doors for showings. You may even get more offers if you give them an introductory walk-through of your property.

Do not Just Focus on Quantity, Qualifying of Viewers (Potential Buyers),

– Do not just focus on Quantity but Quality of the Buyers. If you’re just excited to meet more clients week by week, you may end up wasting numerous weekends to show buyers that may not be suitable.

– Below are some questions that you can use to qualify the potential buyers: Is your house for sale? Are you buying this as an investment property or a place to live with family? Do you have finance approval from a bank or reputable lender? Do you have a deadline to meet?

– All of these questions can qualify whether your buyers are ready to purchase your property or are looking for a house tour.

These Valuable Key Takeaways can help you avoid those mistakes mentioned above and get a Winning profit.

· Hiring an agent may cost more in commission, but it can take a lot of the guesswork out of selling.

· Set a specific price for your home, but if the market indicates something lower, it pays to be flexible. Keeping an open mind when examining offers can facilitate the sales process.

· Selling a home is one of the most exciting times in your life because it means moving on to something new.

When It comes to Property Buying, do note most buyers will be emotional. Imagine if you are selling a property you are also selling an image and a lifestyle, you’ll be more likely to put in the extra effort of staging and doing some minor remodelling to get top dollar for your home.

These changes in appearance will help in the sales price.

Make sure you prepare mentally and financially for less-than-ideal scenarios, even if you do not make any of these mistakes.

If you need any in-depth advice from a Professional and Experienced Real Estate Agent, contact us right now to get a no-obligation consultation.

Home Owner with plans to sell your property in Singapore you can also check the below links.

Sellers

Testimonials

The post Selling Your Home in Singapore, Common Mistakes You Should Avoid. appeared first on Wing Tai Holdings Singapore.

The general population knows that a Condo is a luxurious estate where unit owners occupy individual apartments. They share special facilities such as swimming pools, fully-equipped gyms, BBQ pits, playgrounds, and most importantly, the tennis courts that barely anyone occupies.

But here’s the catch: some may decide on other properties due to certain condominiums’ specific condo by-laws.

Let’s hear about the 7 Essential Rules To Know Living In A Singapore Condominium.

Damaging any form of Greenery is a crime

Did you know that accidentally stepping on a flower in the condo might be considered damaging the property? I’m sure you didn’t. The Management Corporation(MC), if your condo states that damaging any form of lawn, garden, trees, shrubs, plants, or flowers managed or found in the private complex is a no-no.

So the next time you’re inviting your lovely date and forgot to order flowers. Please, by no means, pick some lovely ones painstakingly grown by your in-house gardener. There’s always the option of asking nicely if that helps.

Drying of Laundry

I admit, through my times living in a condominium, hanging laundry everywhere might be a habit of mine. With the rapid developments of newer housings, many families have opted for a unique indoor drying rack technology. It dries clothes faster and has UV rays to mimic the “just dried in the sun” smell everybody loves.

Not an advertisement for that, but hanging your clothes anywhere without specificity may be a big cross for the MC. Think about it rationally; the reason why condominiums are luxurious is that they look premium. If they have clothes hanging like flags all around, would you still be attracted to them?

Keeping of Animals

Possibly the most crucial point in today’s topic. Straight to the fact, you may legally own a maximum of one scheduled dog and two non-scheduled dogs in a condo. Alternatively, you may possess up to three non-scheduled dogs. Cats, however, are always another option.

Scheduled dogs have at least S$100,000 in insurance that covers “injury to persons and damage to property”.

Categorised under Scheduled Dogs List 1:

1. Pit Bull, most recognised as fierce dogs.
2. Neapolitan Mastiff
3. The Akita
4. Tosa
5. Fila Brasileiro
6. Dogo Argentino
7. Boerboel
8. Perro De Presa Canario
9. All crosses of 1 to 8

Categorised under Scheduled Dogs List 2:

1. Doberman Pinscher
2. Bull Terrier
3. German Shepherd Dog
4. Rottweiler
5. Mastiffs
6. All crosses of 1 to 5.

Any other breeds not mentioned should fall into the category of non-scheduled dogs. So if you own more than three dogs currently, and your MC isn’t making a big fuss about it. Chances are, they love dogs too!

Throwing of Rubbish and Unwanted Object

For those who just got in on the condo action. Please do not deposit your trash anywhere.

The phrase “One man’s trash is another man’s treasure” does not apply here.

Condos have specific areas where trash is allowed. Even so, bulky items such as tables or items that obstruct passageways have to be thrown elsewhere.

An exemption can be when you’re throwing out gold, which I welcome. Do tell me when the time comes, and I’ll personally help you toss it out. Not many in Singapore are interested in old belongings, you know.

Behaviour of Owners and Residents

As partial owners of this community, everyone has a role to play. Do cut off the mahjong mentality of “No Win No Sleep” at 10 pm when your neighbours’ and residents are getting ready to sleep. Whereas HDB’s get to play till 4 am, with the police occasionally joining in on the fun!

Breach of by-laws and remedy

The MC, owner or resident may apply to the court for an order to stop someone from disobeying the by-laws and to recover from any potential damage. This means that you have the “Power” to try and intercede anyone in the Condominium. Do remember you’re still human and not risk it for anything overly dangerous.

Not Every Rule is a Rule

Sometimes, there are instances where a condo regulation is not stated as a by-law. To be considered a by-law in Singapore, this specific law requires a Special Resolution backed up by at least 75% of valid votes from the community. That includes you, the owner.

So if, in any scenario, your private complex tries to impose a made-up rule or regulation. You should know what to do.

Need Help?

As most of these rules are general and, as stated by law, some might be different. If you’re uncertain about anything related to condos, ASK AWAY! I’m always here to help you through email or a phone call.

The post Heard of the Condo By-Laws? 7 Essential Rules To Know Living In A Singapore Condominium appeared first on Wing Tai Holdings Singapore.

Introducing virtual property tours — get a clear 360° view of the property from every angle, all from the comfort of your home! Besides being a practical option during this new normal of social distancing, this modern technology offers a range of benefits that will revolutionise your property search. Read on to learn more!

Save Money and Time

Prospective clients can save time by viewing properties online without having to take a single step out of the house. Between commuting, searching for parking, and the actual visit, you end up saving a lot of precious time and money. 

Your property search doesn’t have to be exclusively online. By utilising virtual property tours, you can browse through hundreds of properties quickly and identify some that catch your eye. Once you have a list of properties you like, you can request for a physical viewing. This way, you can make good use of your time on the properties that matter the most to you. 

Get a Realistic Representation of Properties

As a homebuyer or renter, there’s nothing more frustrating than arriving at the property and realising it looks nothing like what it looks like online. From wide lens photos to deceptive angles, property photos can sometimes be deceiving.

However, with 3D virtual house tours, you get to experience realistic representations of the property in an immersive way. You can move around the property and gauge its true size and appearance, just as if you are physically there. In fact, Estate Agent research shows that 75% of potential real estate buyers prefer interactive virtual tours over normal photographs.

Have More Time to Consider

Buying or renting a property is a huge decision, and you will likely need some time to consider. It doesn’t help that physical property viewings typically only last 20-30 minutes, so you’re likely to forget many details shortly afterward. What does the kitchen look like? How is the condition of the roof? What about the outdoor area? 

With a 3D virtual house tour, it allows potential buyers to revisit the property unlimited times and get their questions answered without having to disturb the homeowner. Buyers can take their time to analyse all aspects of the premises before making any decisions and be rest assured that they can view the property anytime, anywhere.

Virtual Property Tours Are Becoming Crucial

There’s no doubt that technology is revolutionising the property search process for potential homebuyers and renters alike. Virtual property tours streamline the property journey, offering greater convenience and flexibility when it comes to finding your new home. 

Don’t waste more time on countless visits that lead to nowhere. Take our virtual tours and discover your new home. 

Looking for properties but not sure where to start? Check out our extensive property listings in Singapore and you’ll be sure to find one that catches your eye.

The post Property Virtual Tour appeared first on Wing Tai Holdings Singapore.

Extracted Online Public Information. Just Take for Reference. Does not ensure accuracy and update to date.

Interactive Table

Home Owners, if the MCST Details you required is not inside the list you may also contact us directly by providing the Condo you owned And I will try to get the information for you.

The post MCST Contact Details (Management Corporation Strata Title) appeared first on Wing Tai Holdings Singapore.

Enbloc redevelopment can be either good or bad. There are many pitfalls along the way of going Enbloc. In order to proceed to the Enbloc stage, you must obtain 80% of the home owner’s (share value and area value) consent within a stipulated period for properties older than 10 years.

The rules are quite onerous and stringent and is governed by the Land Titles (Strata) Act – section 84A. Along the years, additions and amendments by the ministry of law to the enbloc law have made the Enbloc rules even tighter.

With such onerous regulations, this means that more often than not, the ones agitating for enbloc sale are people with the knowledge about it, and they could be “serial enblockers”, lawyers, valuers, retirees in some cases who has lots of time on their hand, people with multiple properties and potentially property agents who are affiliated with enbloc specialists, etc. These people have the unfair advantage of time on their hands, knowledge and possibly working within a related industry and often have started meeting and gathering like-minded home owners to form an unofficial core group and gel together strongly. The proponents of Enbloc already have an advantage to get an Enbloc Sales Committee formed and have already pre-planned and deliberated for a long time.

It’s akin to some country’s political ruling party having “campaigned” for 1-2 years prior to an actual election (maybe they do not call it campaigning, they call it a different name), and then only to declare that the election period is only 11 days, opponents have no time to prepare for the campaigning.

1. Home owners who have refinanced their home loan to Locked-in Packages suffer Penalty

Many of the home owners who refinanced their home loans to fixed rate home loans or those with 2 years locked-in or 3 years locked-in period will incur full home loan redemption penalty. This penalty is usually 1.5% of the loan amount. This tend to affect those who have bought their properties in recent years as their loan size tends to be bigger and their corresponding home loan redemption penalty higher.

If your home is at risk of Enbloc, you could consider a home loan where there is no locked in, but that would entail higher housing interest rate cost. Perhaps the next best option is to look for packages with a waiver of Locked-in penalty due to sale of property. Contact a mortgage broker to assist you to find those packages with waiver of locked-in.

2. Home Owners Who Oppose Enbloc have little time to canvass for Votes

When an Extra-ordinary General Meeting (EOGM) is scheduled (EOGM), many home owners who do not agree with Enbloc have very little time to get together to rally for votes to appoint people to get into the sales committee.

With election, we all know there will be election, so it’s fairer and everyone prepares for it. With Enbloc, we somehow know that some Enbloc may happen, but we never really know when. So those who are happily living in these older condominiums may be blissfully unaware and unprepared of the “plot” to enbloc and collectively sell their beloved homes.

3. Sales Committee likely ends up with many Pro-Enbloc people.

I have heard that some of these pro enbloc sales home owners have rounded up enough proxy votes (from those owners who do not stay at the unit or are overseas) and supporters to vote for their preferred candidates into the Sales committee during an Extra-ordinary General Meeting (EOGM) to start the EOGM process.

This kind of preparation is something that those who are against enbloc cannot match. There are the home owner database that these agents are able to get their hands on and start the “campaigning” way ahead of time, especially for those developers where the owners do not stay there.

Any potential conflicts of interests of any sales committee members needs to be declared, however even if they do not have any conflict of interest in behaviour, these pro Enbloc collective sales committee (CSC) members already presents conflicts in their positions where they are obviously Pro enbloc.

A collective sales committee (CSC) and property consultant is supposed to evaluate and obtain the best deal for all the home owners which I am certain they will do and discharge of their duties properly.

However the sales committee could very well be made up of people who are too eager for a sale, and this could perhaps cloud their judgement.

The breach of Method of apportionment (MOA) in the Harbour view and Thomson view case where incentive payments were made by the property consultant to the home owners is a real life example of such breaches although the collective sales committee were not found to be guity.

Apart from being too sweet talking, misleading, confusing or the deploy of outright incentives (whether known or unknown) to home owners, such sales committee members could also easily turn nasty and handle objectors in a heavy-handed matter due to their personal positions, giving rise to the perception of unfairness. Many times it could get very personal.

Those who are against the Enbloc may not have sufficient energy or drive to take on such an onslaught from an organized group of like-minded people.

So the enbloc redevelopment is really a war between a well trained, weaponised army against a group of loosely aligned and unequipped citizens. There is little chance for those who object.

Perhaps to escape all these, people should really consider living in landed property where they only have to worry about the government building roads into their house as compared to having your neighbours trying to sell your home.

4.  One sided gathering of Collective Sales Agreement (CSA) Consent

Upon setting up a sales committee, the process to gather consent of Collective Sales Agreement officially starts. This is given a period of time, usually 6 months to achieve the required thresholds. So home owners who agree to a collective sale gradually creep up to reach the required Collective Sales Threshold.

This one-sided arrangement causes undue emotional strain to objectors of the collective sale as some home owners gradually defect one after another to sign on the dotted line and add towards the collective sales threshold.

If those who agree can sign a Collective Sales Agreement consent, maybe objectors should also be allowed to sign a contract of “Objection to Collective sales agreement” that similarly lasts the duration of the process.

This would be more fair as objectors can lock in the percentage of objectors, once they object, they cannot sign on the agree list. This would help secure the objectors and thwart the Enbloc process. Once the objectors go above a rejection threshold of say 20%, the Enbloc process would automatically be called off.

Those who want the status quo tends to be passive, but they are forced to go through the entire ordeal to resist the process, incur emotional stress and be bullied into submission.

5. Too strongly worded one-way Consent to collective sales – Too much power given to negotiate a private treaty with buyer

After the collective sales committee (CSC) reaches the required consent threshold, the open tender or auction must be held within a stipulated time. After the open tender or auction, an independent valuer is to assess the total value of the development as a benchmark or reference.

NOW this is the dangerous part.

Why is there no additional vote if the reserve price is not met? If the reserve price is $500m and the valuation is also $500m, and the tender did not reach $500 million, but came in as $400m, do we reject the enbloc bid and consider it a FAILED Enbloc attempt?

Apparently that may not be the case as the Collective Sales Committee (CSC) then may within 16 weeks enter into a private treaty contract with the buyer. (Reference: Denton Rodyk)

Let’s say, after that the collective sales committee agree on $420 million and sold the development. Who is to say what is a fair value?

Is there another vote to agree or disagree on this price?

Is there a safeguard as to how much the private treaty sale can deviate from the valuation or reserve price?

Why must the agreement be open-ended? Even if the collective sales committee has exercised their duty and fair judgement, where do we draw the line on how low the price can go?

This is particularly dangerous considering that many enbloc collective sales committee members may already be pro enbloc sales and may be too eager.

6. Enbloc Sales – Method of Apportionment (MOA) of Sales Proceeds

The proposed Enbloc reserve price is worked out by some “experts”, presumably it should be fair.

But here is how it will never be seen as totally fair.

• How do you adjust for facing of property?
• How do you adjust for the value of renovation done?
• How to apportion the sales proceeds for share value?
• How to apportion the sales proceeds based on built up size of unit?
• Share value and built up size is not uniform. A 50 square meter unit has 5 shares, but a 100 square meter unit does not have 10 shares of common land but only 6 shares of common land.
• Bigger units have only been paying slightly more in share value for maintenance over the years.

Share Value

Perhaps using the Share value as a way of apportionment is not totally fair.

In a strata-titled condominium development, the share value is used to determine the share of the common land each subsidiary proprietor (SP) or commonly referred to as Home owner owns for the calculation of management corporation strata titled (MCST) fees, commonly known as “maintenance fees”.

Share value of each condominium unit is determined by Building and Construction Authority (BCA): –

The share value increases by 1 for each 50 square meters.

BCA’s Share value determines the share of maintenance fees for the development.

Table 1: Building and Construction Authority (BCA), floor area of strata titled property and share value,

BCA, (https://www.bca.gov.sg/bmsm/others/strata_living.pdf)

The share value was initially determined based on the size of the unit and the estimated resources and strain on common property upkeep and maintenance and was not designed for enbloc sale. A family occupying 50 square meters may pay 5 shares for maintenance and upkeep of common property while that of one occupying 100 square meters may pay 6 shares for maintenance as the load on upkeep and maintenance is likely not doubled but incremental as a bigger unit tends to have more people staying in it.

Using purely share value to distribute proceeds is contentious. Using share value to arrive at collective sales agreement consent is also problematic as those with smaller units that made up 1/3 of the built up size have 45.45% of the voting power.

Table 2: Share value of strata titled units if based on Share Value method, iCompareLoan.com

The smaller units will argue for apportionment of the sales proceeds to be distributed based on share value. In a condominium where there are more smaller units and lesser bigger units, the interest of the bigger unit home owners may be trampled upon.

Table 3: Percentage share based on Built-up value, iCompareLoan.com

If it is based on built-up value, those who own smaller units will feel It is unfair as they pay a higher per square feet price for smaller units compared to bigger units, so it is unfair for the smaller unit homeowners.

If we based the enbloc sales proceeds based on the valuation method, this would be very fair as we can establish this as a baseline valuation for each unit.

If the sales proceed apportionment is based on the valuation, this would ignore the fact that bigger units have long paid much more maintenance fees. And also there will probably be a need to do a valuation for each of the units, regardless if they are the same type or not as the valuation is different for different facing, height of the unit and renovation, feng shui and design of the floor plan.

If we were to consider a combination of all 3 methods, then what percentage mix would be fair? This is very contentious.

7. Odds are unfairly stacked against Objectors to an Enbloc sales

Any subsidiary proprietor (SP) also known as home owner can object a sale for some of the following reasons: –

• “Not acting in good faith” due to sale price apportionment methodology.
• Undeclared Relationship between the sales committee and buyers and sellers, or conflicts of interests.
• Non even handedness in dealing with objectors.
• Financial loss from the transaction.

An objector basically has very little rights, and any lawsuits they raise against the sales committee is at their own legal cost. If they were to lose the lawsuit, this would set them back by hundreds of thousands of dollars. As they have no platform to launch an objection, it is expected that most objectors will be bullied into silence as many would be worried about the cost of losing such a law suit.

On the other hand, the collective sales committee (CSC) is not afraid of any law suits, because all or any cost involved in such law suits will be taken off the sales proceeds and divided amongst all the home owners in case of a successful enbloc.

There seems to be no provision within the Land Titles Strata Act (LTSA), section 84A that provide for the cost of any home owner legal suit against the Collective Sales Committee to be shared amongst all the units if the sale were still to proceed successfully despite the objection suit.

8. Wastage of a Country’s resources

Most buildings these days are built to last easily 30 to 60 years without major structural issues.

Enbloc sales process starts when the following condition is met: –

• Less than 10 years old development – 90% of the owner’s share and area value.
• Greater than 10 years old development – 80% of the owner’s share and area value.

URA master plan is Singapore’s long term planning of land use for the next 20 to 30 years, so surely there is no need to pull down a building to rebuild within 10 or 20 years as it is too short a planning horizon.

And most buildings are also generally in good condition even after 10 years or even 20 years. If a building is going for Enbloc after 11 years, this is obscene wastage.

Unless a building is unsafe for occupation there is no need to set the Enbloc threshold so low. In any case, the Building and Construction Authority (BCA) can order remedy works if an older development needs to be remedied for safety.

Proposed Enbloc Development age and voting threshold: –

• Development less than 10 years cannot be put for enbloc;
• Development between 10 to 20 years old to require 90% of the share and area value before Enbloc can be passed.

The post Enbloc Sales Process – 8 Potential Conflicts and problems appeared first on Wing Tai Holdings Singapore.