Your search results

Singapore’s Real Estate Market: The 5 Most Important Documents to Review Before Buying a Property

Posted by Jayson Ang on March 26, 2024

| 0

Singapore’s real estate market is highly regulated and can be complex for those unfamiliar with the process. As a prospective property buyer, there are several important documents you need to review before making a purchase decision.

These documents not only provide crucial information about the property, but they also help protect your investment.

In this post, we will discuss the five most important documents you should review before buying a property in Singapore.

Option to Purchase (OTP): The OTP is a legally binding agreement between the buyer and seller that sets out the terms and conditions of the property sale. It includes details such as the sale price, completion date, and any special conditions. Buyers should review the OTP carefully to ensure that they understand all the terms and conditions.
Sale and Purchase Agreement (SPA): The SPA is the final agreement between the buyer and seller that transfers ownership of the property from the seller to the buyer. It includes details such as the final sale price, payment terms, and other important conditions. Buyers should review the SPA thoroughly to ensure that all the terms and conditions agreed upon in the OTP are included.
Title Deed: The title deed is a legal document that proves ownership of the property. It contains details such as the property’s address, owner’s name, and any encumbrances on the property. Buyers should review the title deed to ensure that there are no outstanding issues with the property’s ownership.
Property Tax Bill: The property tax bill is an annual bill that property owners in Singapore must pay. It is based on the annual value of the property and is used to fund various government initiatives. Buyers should review the property tax bill to understand the property’s annual value and to ensure that the seller has paid all outstanding property taxes.
Land Survey Plan: The land survey plan is a detailed map of the property that shows its boundaries, size, and any other relevant information. Buyers should review the land survey plan to ensure that the property they are purchasing is accurately represented in the plan and that there are no discrepancies or issues with the property’s boundaries.

In conclusion, reviewing these five essential documents can help buyers make informed decisions and avoid potential issues when purchasing a property in Singapore. It is always advisable to seek professional advice from a lawyer or real estate agent to ensure that all aspects of the property purchase are understood and accounted for.

If you would like to arrange a viewing appointment with us in Singapore, do send us a DM here

And if you want even more tips and advice on investing in the Singapore property market, be sure to follow, like and share, or contact us for expert advice, and I’ll see you in the next post!

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …

All Buying Tips Opinion

Decoding the HDB Classification: The New Prime, Plus & Standard – What It Means for Singaporeans

Jayson Ang – December 26, 2023 –

TLDR The National Day Rally 2023 introduced a new classification for HDB flats, replacing the old 'mature versus non-mature estates'...

All Blog Posts Buying Tips

Singapore Decoupling Guide

Jayson Ang – December 29, 2022 –

TLDR Decoupling in Singapore's real estate refers to the process of separating property ownership to avoid Additional Buyer's Stamp Duty...

Buying Tips Mandarin Top 5

5 Things to Know About Singapore’s Freehold & Leasehold Properties

Jayson Ang – June 10, 2023 –

5 Things to Know About Singapore's Freehold & Leasehold Properties Here are 5 things you need to know about Singapore's...

Blog Posts Mandarin Top 5

Unforgettable Vacation: The Ultimate Guide To Singapore’s 5 Best Hotels

Jayson Ang – July 6, 2023 –

Unforgettable Vacation: The Ultimate Guide To Singapore's 5 Best Hotels It's 五新房产, Singapore is a vibrant and exciting destination, known...

All Blog Posts Buying Tips

Reach Your Goal of Owning a Flat Before You Turn 35 : Money-Saving Strategies

Jayson Ang – February 21, 2023 –

TLDR Jayson Ang provides valuable insights on money-saving strategies to achieve the goal of owning a flat before turning 35...

Mandarin Top 5

5 Pros of Buying a New Development

Jayson Ang – March 3, 2024 –

Deciding whether to buy a new development or a resale property can be a challenge. In the next few video...

All Buying Tips Reports

2024 Residential Property Market Outlook

Jayson Ang – December 22, 2023 –

TLDR The market outlook for 2024 suggests continued uncertainties affecting housing demand and risk appetite due to geopolitical tensions, macroeconomic...

All Blog Posts

Singapore Private Residential Market Outlook 2023

Jayson Ang – January 8, 2023 –

TLDR The Singapore residential property market has shown resilience in 2022, with price growth in both private housing and HDB...

Mandarin Top 5

Discover the Best Breakfast in Singapore: Top 5 Must-Try Spots!

Jayson Ang – February 28, 2024 –

Trying out some of the best breakfast places, I've put together a list of the top 5 must-try breakfast spots...

All Blog Posts Buying Tips

6 Essential Factors HDB Upgraders Should Be Aware Of Before Purchasing a Condo in 2023

Jayson Ang – June 12, 2023 –

TLDR When upgrading your property, consider factors like rental rates, Buyer's Stamp Duty adjustments, higher interest rates for bank loans,...

Mandarin Top 5

Top 5 Rooftop Pools in Singapore for a Swim

Jayson Ang – March 30, 2024 –

Singapore, a bustling city-state known for its iconic skyline and innovative architecture, is home to some of the most stunning...

Mandarin Top 5

Top 5 Factors to Look for in a Property Developer

Jayson Ang – March 13, 2024 –

With a highly competitive property market, it's crucial to choose a property developer that you can trust to deliver quality...

Mandarin Top 5

5 Cons of Buying a New Development

Jayson Ang – March 4, 2024 –

Luxury properties in Districts 9 and 10 of Singapore are highly coveted, and for good reason. From stunning views and...

Mandarin Top 5

5 Things to Know About Singapore’s Urban Redevelopment and Landscape Changes

Jayson Ang – March 11, 2024 –

As one of the world's most densely populated cities, Singapore has undergone significant urban redevelopment over the past few decades...

All Buying Tips

Could You Still End Up Losing Money When Buying Property in Singapore During a Market Slump?

Jayson Ang – February 14, 2024 –

TLDR When it comes to property investments, timing is crucial. Buying at the right moment is only half the battle;...

All Blog Posts Buying Tips

Subscribe to Jayson Ang’s Singapore Property Newsletter

Jayson Ang – December 27, 2022 –

TLDR Jayson Ang's Singapore Property Newsletter offers valuable insights on real estate investments, market trends, and expert advice. The newsletters...