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1) If I sell my EC first, follow by buy a resale HDB within the same month, to pay booking fee and OTP etc at the same month, will I imposed ABSD?

2) Usually when do we need to pay the 20% downpayment for the resale HDB? What happen if I’m waiting the cash from my EC?
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5 Answers

Good morning,

As you are purchasing resale HDB, you will be required to sign an undertaking to sell the existing property (your EC), hence no ABSD will be applicable upfront. For resale HDB, the earlier payments is 1k option fee + 4k option exercise fee, with most other payments payable at completion. If you need the sale proceeds to complete the purchase, we have to time the sale completion to be approximately 3 weeks before the purchase completion.

I have assisted various clients to smoothly transit to their next property and will be happy to do the same for your scenario too.

May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --

I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.

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Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, in your case no ABSD is involved as your next purchase is a HDB flat. And yes it would advisable to sell first then follow by the next purchase and do you have an interim housing once the EC is sold?

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Hi, I am Brendan!

No ABSD payable in your scenario.
For resale HDB purchase, you will only require to pay up to $1k option fee + up to $5k exercise fee.
I had helped many clients sell and buy their properties with a smooth, hassle free transit.

It will be much more straightforward for me to explain to you in details over the phone.
Pls contact me at 9754 5207  or wa.me/6597545207.

Thank you!
Brendan Bay, ERA
 9754 5207 
wa.me/6597545207 Read More
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Hi Sir/Mdm,

Allow me to explain in details.

1) There are no ABSD that is applicable when you purchase a hdb flat. Therefore, for some of my clients, I will plan for them to buy first before they sell off their EC so that they can transit smoothly without the need for an interim housing solution.

2) For HDB, you just need 5k to book the flat with the remaining only payable upon completion. Therefore it is possible to time in a manner such that you can use your sale proceeds from the sale to finance the purchase of the HDB.

I have assisted many of my clients whoa re in the same situation as yourself. Please feel free to contact me so that I can understand your situation better and provide you with further assistance.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020

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Hi,

1) You will not be subject to ABSD when you buy a resale HDB flat. Thus not worry about the tax.
2) If you are using CPF for the 20% downpayment, then your lawyer will instruct the CPF board to release the fund within 14 days upon completion of document endorsement.
3) Stamp duty will be materialized within 14 days upon HDB approval of the resale application.
4) If you are using cash for the 20% payment and stamp duty then you will only need them around 3 weeks before the HDB completion appointment. The exact timing shall be dependent on individual law firm practice.
You may discuss with your lawyer the timing of the payment.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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