foreigner, you will probably not know that. In Singapore, Singapore property

agents get their commission from the property seller. But if you are a

foreigner whose home country has a practice to pay the buying agent, they

will ask for a commission from the buyer as well.

you to sell your property through them.

Property Buyer

Due to the dynamics of the market, the Singapore Property agent will only

get a split of the commission when he/she brings a buyer to see and

eventually buy a property.

Do Singapore Property agents get you the best Home Loan mortgage?

The faster they close the property purchase the better. The property agent

has no interest in dragging out the deal.

They are not dishonest in any way, it is just that they only tell you what you

want to hear to close deals. And they are economical with the truth.

If they tell you too much, you may change your mind and decide not to

proceed. If you don’t proceed, they don’t get a commission. It’s that simple.

So what Singapore property agents do with Mortgage home loans is the

same. They will find the higher valuation and ask you to check with the

banks. Singapore property agents will arrange the bank loans for you from

the banks that MAY NOT give the best rates and terms. Because they can

match the seller valuation.

WHY Singapore Property agents wants banks to match seller valuation?

Singapore property agents wants banks to match seller valuation

BECAUSE, this will close the gap between buying and selling price. And

when you are willing to pay much HIGHER, he/she can earn commission

from the property seller or he/she shares his/her commission with the seller’s

agent.

Get banker approval???

The Singapore property agent is willing to bring you the bank forms to fill in

and even get in-principle approval. Why? This way, they can quickly make

sure you have a bank loan in hand and willing and ready to bid for a

property. And very possibly you have a bank approval-in-princple at a really

high valuation that will tend to lead you to over-pay for your property.

And… You will have a bank who is very very happy to match the

(Banks can stretch valuations, within reason)

You are the person paying for the loan for years, if you overpay.

Buyer overpays for Singapore Property

The property agent pushes up the buying price to match the seller’s asking

price, this way, the deal is easier to close and he/she makes the

commission.

Surely there are trust worthy and honest Singapore property agents, right?

Yes, there are. But because in Singapore, Property agents participate in

both buying and selling activities, there is a clear conflict of interests

between upholding your best interests and that of their commission.

On the one hand they say they will take care of the seller’s interest and

moments later, they say they will take care of the buyer’s interest. So who do

they really work for? They take care of their own interests we’re afraid.

Property agents want to close deals quickly for fear of losing the deal.

If you are willing to over-pay for your property, they are happy to close it for

you. As long as they do not give any outlandish comments, they are not

dishonest.

So Dishonest Singapore property agent don’t really want you to go to a

Singapore mortgage advisor like us to help you go through many valuations

and recommend a SAFE price to bid for your property. That drags out the

buying time.

Why work through www.PropertyBUYER.com.sg for mortgage home loans?