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
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.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!