SELLER-FREQUENTLY ASKED QUESTIONS (F.A.Q.)
AUTHORITIES CONTACT NO:
- CPF Board..................................................
- Singapore Immigration & Registration ............63916100
- Goods & Services Tax (GST) ........................63536863
- Income Tax (IRAS) .......................................63568300
- Property Tax ................................................63568600
- How do I know about the market
value to sell?
All shops in Far East Plaza have been valued for rental
and sale and given a price range recommendation. This is
to ensure transparency and more perfect knowledge in a developed
We have collected over 500 data on shops sold over the last
23 years. You can personally come to our office at #05-134B
Far East Plaza or call 67326266 / 62353066 or email at email@example.com.
- Will I be taxed if I sell at a
profit within 3 years?
There is no more capital gain tax based on personal income
tax. This policy has been abolished since 13 Oct 2001 and the 14/1/2011 restriction does not apply to non-residential properties. You
can now buy today and sell tomorrow!
- What happen if the area in Sq
Ft is less?
The buyer may ask for compensation, a reduction in price,
or even abort the sale. Most individual owners over-quoted
the square-area because a subsequent survey by government
department revealed a smaller area than quoted initially
by the developer. We have the latest square-area by the
survey department. You can personally come to our office
at #05-134B Far East Plaza or call 67326266 / 62353066 or email: firstname.lastname@example.org.
- What is the best time to sell?
Based on the shop's tenancy, the period 3 - 6 months before
the tenancy expiring is best as the buyer can choose to
negotiate a new rental or re-possess for own use ( subject
to Tenant's terms & condition of lease)
Sale price may be affected by:
i) Rental returns
ii) Option to renew at fixed rental price.
iii) Environmental factors like noise, heat, smell, rowdiness
of neighbouring occupants.
- What are some reasons for selling
a shop in Far East Plaza?
I) The shop price in Far East Plaza has somewhat been rising
during the last 23 years, while the downside is low or minimum. A shift from shop to private residential
is timely as price has fallen significantly i.e. It is now
cheaper to buy condominiums, apartments and landed properties.
ii) During the crisis, some sell to pay off loan, reduce
interest - servicing, re-balance asset allocation, and converting
to more liquid assets.
iii) Some very good locations are bought and held by owners
for long-term cash flow. Only during a crisis, opportunities
arise to buy such good locations. Many owners actually sell
off their present shops to buy into a better location shop
both in Far East Plaza
iv) Shareholders of Tenancy-in-common ownership sell so that
they can realise their cash or redeploy into better
investment scheme. It may also be due to partners/
children's falling out with each others or simply going
their separate ways.
- What is the best way to sell a
There are 3 ways:
i) Do-it- yourself.
ii) Call many agents.
iii) Appoint a Sole-Agent.
Appointing a Sole-Agent will help you to:
i) Protect your privacy & free your time and avoid annoyance
from unsolicited calls from agents & insincere enquiries.
ii) Maintain your price.
iii) Harness other agents service through co-broking.
Our records: In Far East Plaza.
i) 23 years stationed here in Far East Plaza
Tel:67326266 / 62353066 Hp: 96736477 Email: email@example.com.
ii) Complied over 500 data on shops sold.
iii) All shops are informally valued and given a price range recommendation
iv) Complied the latest accurate square area to prevent
mis-statement by owners. Solve/mediate disputes between
tenants and landlords.
v) Regard as the de-facto (most popular) agent from Buyer
/ Sellers / Landlords / Tenants / Assignors / Assignees
and the Press + TV media.
- Where can I seek
assistance to discuss about the sales?
Kindly come down to the Far
East Plaza Tenants/Owners Service Centre at
LAST UPDATED ON JULY 2011