Frequently Asked Questions

I am ready to buy a house, where should I look?
There are actually several sources for advertisements, and usually, these can be found in major dailies, real estate magazines and internet websites. You may also contact an estate agency and ask if they have any houses on the market. You may also attend auctions, as some houses are auctioned off.

How long before I can move in?
It actually depends on how fast or slow the entire process takes. It would be safe to say that you may be able to move in about 6 months after the time you decide to make an offer.

I've heard of Leasehold and Freehold, what are these?
When you purchase a property that is on freehold, it means that you have bought the unit in its entirety, and can opt to sell it without any legal impediments. You will have full ownership of both land and structure, and all local taxes and costs for repairs and maintenance will be borne by you.

A property that is on leasehold, on the other hand will be under your care for a specified length of time. The lease period can be as short as 60 years and may extend to, at the most, 999 years. At the end of the lease period, you have to surrender the property to its owner.

My agent called me a Relocator, what is that?
Relocator and locator are real-estate jargons used to describe the moving pattern of property buyers. Relocators are those who are returning to an area where they used to live or work. Locators, on the other hand, are those who will be transferring to a new area.

Aside from the actual cost of the house, are there other expenses?
Normally, you need to pay surveyors and solicitors for their professional services, provide a commission to real estate agents, and spend for house-hunting expenses. In some cases, you may also need to settle local taxes, duties, and moving costs. After moving, costs of repairs and/or renovations will be on your account.

Do I really need the assistance of agents, surveyors and solicitors?
Technically, you can do without them, but for convenience, it is recommended that you enlist the support of professionals. Agents can help you find houses that fit your budget and specifications. Not only do they arrange meetings with the owner/s of the house, they can also refer you to competent surveyors, who will inform you of the true condition of the property; and solicitors who can prepare legal documents that will protect you, your rights and your property.