Fact Finding for Property Buyers

There was an interesting article in a free circulation yesterday. The person who wrote in urged the government and related bodies to implement a fact-finding process for potential homebuyers in Singapore. Property acquisition is a financial decision and it should start with finance.

In my opinion, there are two groups of buyers in Singapore; owner-occupiers and ’speculators’. I have come across very few buyers who are thinking of holding long-term with Singapore properties. Buying is the easy part; holding is a test of your perseverance and your vision of reaching your long-term goals. And because there is no capital gains tax in Singapore hence speculators are encouraged in this market.

And perhaps many dismiss the idea of holding property long term in Singapore; the idea of fact-finding becomes irrelevant. The speculators would want to dispose their assets as quickly as possible to the next buyer. However, having said that, owner-occupiers generally do their sums before they take the leap.

My investors are all long-term Australian property investors. I don’t entertain short-term speculators and hence it is paramount that I conduct proper fact-finding for my clients. As a trained engineer, I have been doing that for a long time and without sounding too arrogant, I am happy to say most of clients are pleased with what I have done for them…