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HDB resale rule one month on: Buyers cautious

Buyers fear high cash outlay while sellers' bargaining position weakens: Property agents

Published on Apr 10, 2014 8:25 AM
Previously, buyers of resale HDB flats knew the cash premium they were committing to when they agreed a price. Now they do not, making them more cautious in their offers, and a property agent says it has become a guessing game. -- ST PHOTO: CAROLINE CHIA

A month after the Housing Board's new resale process began, the need to agree a price before getting a valuation has not been popular, say property agents.

Even though the market has adapted to looking at past transactions as a guide, buyers still dislike the uncertainty over their cash outlay, while sellers find it hard to bargain.

Previously, sellers would first get an official valuation from the HDB, then use it as a basis for negotiation with buyers.

But from March 10, the HDB accepts valuation requests from buyers only, and only after a price has been agreed.

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