We’ve already seen how the new home-building rules could make the city’s real estate market even more competitive.
Now it looks like the government is also looking to boost property prices by giving developers more leverage in the process.
That’s because the Department of Housing and Planning (DHCP) wants to make sure that all properties are up for sale at the same time, so that buyers and sellers can find the best price for them.
Under the new rules, all new houses must go through a three-stage bidding process, which involves bidding in person or by telephone.
The bidding process is the same as any other new home, with buyers and buyers getting to bid for a specific number of units, called a “biddable unit.”
After that, a final price is set.
If the price of a specific unit goes up, it can’t be changed.
For instance, if a property gets more than $2 million in value, the seller can’t change the price because it’s already been agreed upon.
Developers, however, can change the prices of a lot by taking the bidding up to the next level, which would mean that the seller and buyer would have to renegotiate the deal.
The final price will be determined by a third party called the “agency,” which is supposed to be the seller’s agent.
In order to avoid bidding wars, the government has decided that an agency must bid for the entire property in the market at the beginning of the bidding process.
For the first stage, the agency will bid on the whole lot, but it will bid as little as possible to ensure that the market price is high enough.
In the second stage, however: the agency must not bid more than 10% of the total bid.
The third stage is for the buyer to bid on only the part of the property that is “not available” for bidding, which is usually the whole lots.
If a lot has been awarded to a buyer for less than its actual market value, then it will be auctioned off in the next stage, where the buyer will bid the rest of the lot for its market value.
In both the first and second stages, the buyer must also submit a bid for all lots.
The buyer and seller can then negotiate a price that the agency agrees on.
If they don’t agree, the agent will get paid.
Under current law, agents are paid a fee, known as the “agent’s commission,” that they can use to offset the costs of the process, such as fees for escrow and the cost of legal representation.
The new rules mean that this fee won’t apply.
This fee will be reduced to 0.1% of any fee paid by the agency.
The agent’s commission can then be used to pay for the agency’s legal costs and to reimburse the seller for any additional fees paid by agents.
A buyer and the agent can also negotiate an additional fee that the buyer pays for.
The seller can still pay a fee if the seller gets the lot.
However, the fee is a bit more modest: the buyer gets to keep any proceeds, which can range from up to 5% of a buyer’s final purchase price.
The process is similar to the bidding system for any new home.
The buyers and the sellers both need to get the bidding done in person, and the bidding starts when the agency makes the initial offer.
Then, the two parties will negotiate price reductions to ensure the auction gets completed quickly.
The government says that the new regulations will help ensure that a buyer and a seller can negotiate an excellent deal.
“Bidding by telephone is a very competitive process, and one that’s very easy to set up,” said DHCP spokesperson Michelle Brown.
“That makes it much easier for both parties to set prices for the property, and to ensure there’s a fair price for both buyers and their prospective tenants.”
If the bidding is completed successfully, the process is repeated for each additional bid, so the buyer and agent can agree on a price and the other party will have to agree to a price increase or decrease.
However if a lot isn’t offered by the end of the first bidding stage, or the buyer has already made an offer, then the buyer can also increase the bid to the same amount as the agent.
But the agent’s fee will not be deducted from the final price, because the agency already made its final bid.
If there are any problems during the bidding stage or a dispute arises, the DHCP can call a third-party auctioneer to try to resolve it.
If it can, then that auctioneer will be called to assist the buyer.
“The agency will have the final say in any negotiation and the agency and the buyer both agree to the terms of the agreement,” Brown said.
In other words, if the agency has a disagreement with the seller over the price they want, they can call an auctioneer.
If this is the case, the auctioneer can