2020 How to find the Cheapest Properties in Singapore that are not listed in popular website

2020 How to find the Cheapest Properties in Singapore that are not listed in popular website

Today I am going to tell you how to find properties that are at least 20% cheaper than the ones you find in popular sites like propertyguru. Especially for commercial properties that are hit hard by COVID, you are more likely to get a good deal out of this auction listing.

Bank Auction Sale

Every month, real estate companies will list down all the bank auction properties. They can be HDB, condo, landed or commercial properties.  They are foreclosure properties which the previous owner fail to make their mortgage commitment.  Homeowner do fire sale their properties for auction as well. 

These properties then sell at a discounted price, much lower than current home prices.  Real estate companies will represent the banks, individual, liquidator or any financial institution to offload those properties.

Banks usually don’t wanna hold on to this properties for too long and wanna sell it without making a loss. The longer it is listed, the higher the chance of asking for more discount on the properties.

Usually most properties ended up not selling during auction and buyer usually work out a deal privately with the owner.

Auctions are usually held once every month at the office of the brokerage firms or a function room in a hotel.

Below are the few companies that release their listing monthly.

Take note, Properties can be sold before the auction if the price is right. During auction, if you bid successfully for a property, you’ll need to fork up a non refundable 10% of the property value as deposit.

 

Knightfrank

Building an Efficient Enterprise Network and Reliable Data Centre Relocation Services

Founded in 1940, Knight Frank Singapore is one of the country’s first real estate companies. They updated their listing monthly here.

 

ERA

ERA Realty to make reappearance on SGX as APAC Realty; IPO priced at S$0.66 a share, Business News & Top Stories - The Straits Times

Here’s their monthly listing link

 

JLL Singapore

Wa their office quite nice. Here’s their listing.

Tip to getting the best price

Be sure to ask the agent this 3 question. 1) What’s the guide price. 2) What’s the last asking price. 3) How long has the properties been listed

This can gauge interest and increase your chances of getting the best price.  Lastly, please research your ideal property online and compare the pricing from the auction. 

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