Let us deep Dive in viewing a home

Everyone is excited when viewing a home. Sometimes we can get carried about the beautiful renovation that the owners has done and on the flip side buyers are also dismayed when the place is clutter and not look at the true merits of the home?

The question is what do you look for when viewing a home?

Is it the price?

If the buyers are just keen to see the data, buyers can get it from government site such as URA to check the price of the units that are sold. Of course these transaction data are outdated which means it may not be accurate. Having said that, it does provide a gauge of the price range in the estate. Data whilst good may present a good opportunity or a wasted opportunity. Besides data, one should look at the condition of the house. If the intentions is to renovate the whole house, then the condition of the house is not an issue.

Water Seepage

One of the key pains of purchasing a home is water seepage. Basically there are 2 types of water seepage, one is inter-floor leakage and the other is leakage from external sources such as from the Roof-Top or from Window.

For the first scenario, the law clearly states that in a private property estate, the responsible party is the upper level owner. For the second scenario, the responsible party is the main contractor if it is a new project or MCST is the warranty has lapsed. Some Developers offer MCST warranty from water seepage from external sources up to 10 years. Do check with the warranty as it varies for each development.

Caveat Emptor

Whenever you buy a home, the law base it on a concept called caveat emptor whereby the seller is not responsible defects that he is selling provided they are telling the truth. What does it mean? So lets say, the buyer asks if there is a leak, the seller has to tell the buyer. However, if the buyer do not ask any defects type of questions, then the seller has no obligation to inform the buyer.

Now this is the tricky part, which is the asking the seller if there are any the defects in their home. The seller may take offence with the seller's comments as the seller may find the buyer's question a little too intrusive and may choose not to sell to the potential buyer.

Key Takeways

In conclusion, if you are unsure about what to look out for in a viewing, feel free to contact us and we will definitely do our best to assist you.