Property auctions are another avenue house-hunters can explore
An auction is another marketplace home buyers can check out if they want to widen their property search.
Auctioneer Mary Sai from Knight Frank said the auction method is fast, neat and transparent.
While there may not be as many mortgagee sales – when a bank sells a property it has repossessed because the borrower cannot pay his mortgage – as expected earlier, there are more owners willing to sell via auction.
If you are interested in taking this route you can start by contacting the auction houses to get an idea of the properties on offer.
The main auction houses in Singapore – Colliers International, DTZ, Jones Lang LaSalle and Knight Frank – post their auction dates, venues and available properties online. They usually hold their auctions at Amara Hotel.
Apart from the big boys, there is also CKS, a smaller but long-time player. Recently, new entrants such as Credo Real Estate have also joined the market. Continue reading
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