Property Buying Tips

Tips to fast track your home buying experience

What to expect Tips to fast track
Find your dream home
  1. Determine the type of home you are looking for e.g. condominium, terrace, semi-detached, or bungalow.
  2. Check various sources to avoid wasting time travelling e.g. browse through the classifieds in newspapers and online property listing websites, and contact real estate agents in your preferred locations.
  3. Save time by short listing to one or two locations before driving out to those areas.
  4. Visit the developer's sales office or development site if you are looking for a new property.
Sign Offer of Purchase & place earnest deposit/booking fee
  1. Engage a lawyer or agent to prepare this for you or you may prepare one yourself*
  2. Agree the offer and terms with the seller*
  3. Have ready the earnest deposit (usually 2% of the purchase price)* or the booking fee.
Get Sale & Purchase Agreement (S&P) prepared and signed
  1. Appointing a lawyer with experienced in the property purchase process or one who is from the Bank's panel will expedite much of the legalities and documentation that need to be completed.
Apply to EPF to withdraw from Account II
  1. Visit for the relevant application form and a detailed list of documents required.
  2. Ensure that you have all the required supporting documents together with your application to EPF.
Pay balance of deposit
  1. Follow up closely with your lawyer and the EPF office if you are withdrawing from EPF to help pay for the deposit.
Apply for a bank financing
  1. Apply for a bank financing package that suits your needs.
  2. Follow up closely with the Bank and/or Bank's lawyer to ensure all necessary documents are signed as soon as possible e.g. the Letter of Offer.
Appoint Valuation Company
  1. Appointing a valuation company that is on the Bank's panel can help expedite communication between the Bank, the valuation company and yourself. A valuation is usually required if you buy a completed property.
Sign Facility Agreement
  1. Follow up closely with the Bank and/or Bank's lawyer to have this agreement signed as soon as it is prepared.
Pay balance of purchase price
  1. Follow up with your lawyer to confirm payment is made and received by the seller's lawyer.
Get the keys
  1. Make arrangements with the seller/developer to acquire the keys to the property.
  1. Plan your renovation by obtaining the floor plan of the property and seek quotations from various contractors.
  2. Planning ahead helps save time because you will need to submit your renovation plans to the local town council for approval.
Move in!
  1. Obtain quotes from movers/transport providers if you are moving large/heavy items.
  2. Packing early would let you move your things as soon as you get the keys to your new home.