Auction in Singapore?

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tracey321
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Auction in Singapore?

Post by tracey321 » Wed, 15 Jan 2020 10:37 pm

Just moved back from Australia. Planning to buy a house here. Does Singapore have auction fire sale sorta thing where I can get properties cheap?

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sundaymorningstaple
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Re: Auction in Singapore?

Post by sundaymorningstaple » Wed, 15 Jan 2020 10:46 pm

Last time I heard of one of those was in 1998 during the Asian Financial Meltdown of 1997~1998. There ain't no such thing a cheap property in Singapore.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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PNGMK
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Re: Auction in Singapore?

Post by PNGMK » Thu, 16 Jan 2020 10:04 am

Actually SMS there are mortgagee auctions for property and they happen about once a month from memory. They are coordinated by one or two of the large RE firms who list run the bank mortgage auctions - they also sometimes offer the properties by tender. I can't recall which firms and it prob breaks forum rules to post the name but google will bring it up. There are also car auctions for the same reason.
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sundaymorningstaple
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Re: Auction in Singapore?

Post by sundaymorningstaple » Thu, 16 Jan 2020 2:38 pm

I stand corrected and admonished! :oops: :oops!:
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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abbby
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Re: Auction in Singapore?

Post by abbby » Thu, 16 Jan 2020 6:39 pm

Seems like the prices listed for fire sale, are not very cheap either...they're mostly asking market rate..
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PNGMK
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Re: Auction in Singapore?

Post by PNGMK » Thu, 16 Jan 2020 9:03 pm

Holding costs for properties are not expensive. The banks can wait for a buyer so unless there is a court ordered sale date they will just wait for a buyer.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

DominicLim
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Re: Auction in Singapore?

Post by DominicLim » Wed, 22 Jan 2020 11:57 pm

Hmmm..... biding for property in Singapore? Sound interesting. Maybe this can be the new way forward for people in Singapore to buy and sell their HDBs. Did not know that there is such a website that helps people in Singapore to buy and sell their HDBs. Will definitely check it out. What a innovative way to sell HDBs.

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PNGMK
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Re: Auction in Singapore?

Post by PNGMK » Thu, 23 Jan 2020 10:47 am

I don't believe you can auction HDB's. I may be wrong but I've never seen them auctioned. Remember HDB has to approve all HDB buyers so that might stop an auction style process.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

michelle123
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Re: Auction in Singapore?

Post by michelle123 » Wed, 05 Feb 2020 4:48 pm

tracey321 wrote:
Wed, 15 Jan 2020 10:37 pm
Just moved back from Australia. Planning to buy a house here. Does Singapore have auction fire sale sorta thing where I can get properties cheap?
Singapore property never cheap

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