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Are you intend to sell your house but do not know how much you should ask for your house?
Of coz you want to sell your house at high value as I believe every homeowner (or most of the homeowners) including myself would feel our house has high value and want to sell the highest possible price.
However, buyers will not think that way. They would want to buy their dream home at the lowest possible price or at least the price that they feel reasonable to them.
Hence, as seller, you should find out what is the current resale property market sentiments & past resale transactions records to have a estimated indicative price ranges that you can sell your house.
So below are the 4 Simple Ways:
1) HDB Resale Flat Price
For HDB seller, you can search the recent transacted resale flat price within the past 6 months to 2 years.
You can select your block number or a range of blocks around your house and search for the most recent transacted resale flat price as a guide which will be more relevant to current market.
Buyer also will be using this E-service to find out the recent transacted resale flat price as a benchmark when they look for houses.
2) Private Residential Property Transactions
For private seller, you can search private residential property transactions of your project with caveats lodged or options issued within the last 36 months.
It might be also useful if you search the transactions of the project(s) nearby you as reference.
3) Online Property Portals
You should also visit some of the popular online property portals to see if your neighbours in your project or nearby project(s) are also selling their units.
As they will be your "competitor" in the resale market, you would want to find out
- how much they are asking,
- how is the condition of their houses,
- are they house on high floor, mid floor or low floor,
- what are the units' facing, etc
4) X-Value™ Pricing (For HDB & Private Property)
SRX (one of the online property portal) offers this free E-service where you can estimated value of your house as a guide for general purpose only by keying property type, floor, unit number & size.
5) Financial Calculations
You should always have your calculations done correctly and carefully with your mortgage bankers or certified professionals.
So that you will know what is the minimal price that you to sell your house.
If your HDB flat is bought with housing loan from HDB, you can use HDB Resale Financial Plan.
This service will give you the estimated figures for the following:
- Loan amount from HDB
- Monthly instalments
- Payments required during the resale appointments: cash payments, stamp fees, conveyancing fees, caveat fee, and title search fees
With all above information & figures, you will be able to have a better indication of the current resale property market in order to make a better decision for your selling price.