A reader asks:
a) What are fire sales?
b) Where can I find information on bank auction listings and firesales in Singapore?
Dave Yong, theAsianparent Singapore property expert, replies:
a) Fire sales is a term that appears confusing to many. It is actually a very simple term that everyone owning a property or looking to own one should be aware of. Many property owners often ask me this question and I thank you for bringing this important topic up on theAsianparent.com.
The popular definition of a fire sale is the sale of a good or security at much lower than usual prices and is considered a windfall by many. Property owners usually use the term ‘fire sale’ to indicate that they are willing to sell their property at below valuation due to many reasons (for e.g. they are financially constrained and need to sell the flat off).
I hope you are now clear about the term ‘fire sale’.
b) In order to find information on fire sales and bank auction listings, you may contact real estate brokers for information. I believe they will be able to better guide you with information pertaining to fire sales and bank auction listings. Additionally, the Classified section of the newspapers and property web portals also display such information.
I wish you great luck on your property pursuits.
Answered By Dave Yong.
Dave is a senior team director certified in CEHA with ERA Realty Network Pte Ltd. As a full-time professional realtor who mentors a group of associates under his team, his success stories includes winning numerous awards such as Asia Pacific Elite award, Top Achievers awards, Million Dollar Club Producer awards, Top Manager awards and multiple testimonial letters!
Dave exemplifies great service. His transparency and dedication to his job has resulted in many satisfied local & foreign clients who continue engaging him for all their property needs. As a consultant to theAsianparent.com Dave is excited to assist Singapore parents on property trends and update them on polices related to the property market. Dave is a peoples’ person and enjoys communicating on a wide range of topics. He also enjoy sports and spending quality time with his friends and family.
If you have any property questions, please direct it to Dave Yong at [email protected]or [email protected]
You can also vistit his site at www.sinproperty.com
