FAQ
 

CHARLES YUE (R001164B)
RETAIL SHOP DIVISION
TEL: 6235 3066
FAX: 6834 2133
GINZA REAL ESTATE PTE LTD (L3007546B)

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  1. FAQ FOR TENANT
  2. FAQ FOR BUYER
  3. FAQ FOR LANDLORD
  4. FAQ FOR SELLER

AS SELLER-FREQUENTLY ASKED QUESTIONS (F.A.Q.)

RELEVANT AUTHORITIES CONTACT NO:

  1. CPF Board.................................................. 62202422
  2. Singapore Immigration & Registration ............63916100
  3. Goods & Services Tax (GST) ........................63536863
  4. Income Tax (IRAS) .......................................63568300
  5. Property Tax ................................................63568600
  1. 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 market.
    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 enquiry@fareast-plaza.com.
  2. 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!
  3. 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: enquiry@fareast-plaza.com.
  4. 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.
  5. 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.
  6. What is the best way to sell a shop?
    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: enquiry@fareast-plaza.com.
    ii) Complied over 500 data on shops sold.
    iii) All shops are informally valued and given a price range recommendation for sale/rent.
    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.
  7. Where can I seek assistance to discuss about the sales?
    Kindly come down to the Far East Plaza Tenants/Owners Service Centre at
    #05-134B

          LAST UPDATED ON JULY 2011

   

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