Asked by Ms. Chantal Seah
can a HDB be used to contra to buy a condo without incurring ABSD?
2476 views
4 Answers
Hi Ms. Seah,
Yes the upgrade is possible but we need to manage the timelines of both sale & purchase carefully so to minimize the stamp duties payable and to allow a smooth transition. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.
Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
Contact: (+65) 97432395
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews/
(Client's Testimonials) Read More
Yes the upgrade is possible but we need to manage the timelines of both sale & purchase carefully so to minimize the stamp duties payable and to allow a smooth transition. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.
Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
Contact: (+65) 97432395
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews/
(Client's Testimonials) Read More
Hi Chantal,
Contra facility is only for applicable for HDB loans for buying and selling HDB flats.
If the ABSD upfront payment is your concern, you will need to plan your sale and purchase timeline properly.
However, if you can afford to pay ABSD first, you can proceed with the condo purchase, and then apply for ABSD refund after you have sold your HDB flat within 6 months completion of your condo purchase.
Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.
Thank you.
Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More
Contra facility is only for applicable for HDB loans for buying and selling HDB flats.
If the ABSD upfront payment is your concern, you will need to plan your sale and purchase timeline properly.
However, if you can afford to pay ABSD first, you can proceed with the condo purchase, and then apply for ABSD refund after you have sold your HDB flat within 6 months completion of your condo purchase.
Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.
Thank you.
Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More
Hi,
It is possible however you need to manage your timeline.
To begin, I would like to point out the key essential in the sell-buy process and that is the : Financial Cash Computations and Calculations. It is recommended to have a preliminary discussion with a professional who will work out your financial cash projection, generation of sales proceeds and factor in the likely purchase price so that the process is smoothly facilitated and ensures you a tidy substantial profit. Sometimes, being rookies and unfamiliar with the overwhelming process, a slight wrong decision can lead to a paper loss and even actual loss!
As we are experiencing a market downswing with weak market sentiments, it may take a longer time to sell of your existing unit. However, as long as we embrace the realistic approach, of maximum exposure and setting realistic yet profitable purchase price, we will maximize the timeline. For this, I would need to have a physical look at the unit, study the recent up to date transaction caveats of similar sized units in vicinity and hence, present a sales and elevation report to advise further. Furthermore, a preliminary discussion would allow me to shed some light on my working style and comprehensive marketing strategies to get your unit maximum exposure through the various mediums and more.
In addition, it will be best to understand more on the market insights and caveats of your intended purchase as well as for me to run through the overview procedural framework. Sell-Buy process should be expedited on a step by step basis, to ensure no financial liquidity complication and no wrath of regulations.
D Kumar
+65 96659926
ERA Associate Division Director
www.kumarrai.com (Awards and Testimonials)
#1 team of ERA in Singapore, Asia Pacific International for 2014.
ERA 2015 Q1 Top Achievers (Top 1% of ERA)
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award
P Group
2015 Feb/ April/May ERA Top Achievers
2014 Aug/Sept/3rd quarter/Dec/ Overall 2014 ERA Top Achievers Read More
It is possible however you need to manage your timeline.
To begin, I would like to point out the key essential in the sell-buy process and that is the : Financial Cash Computations and Calculations. It is recommended to have a preliminary discussion with a professional who will work out your financial cash projection, generation of sales proceeds and factor in the likely purchase price so that the process is smoothly facilitated and ensures you a tidy substantial profit. Sometimes, being rookies and unfamiliar with the overwhelming process, a slight wrong decision can lead to a paper loss and even actual loss!
As we are experiencing a market downswing with weak market sentiments, it may take a longer time to sell of your existing unit. However, as long as we embrace the realistic approach, of maximum exposure and setting realistic yet profitable purchase price, we will maximize the timeline. For this, I would need to have a physical look at the unit, study the recent up to date transaction caveats of similar sized units in vicinity and hence, present a sales and elevation report to advise further. Furthermore, a preliminary discussion would allow me to shed some light on my working style and comprehensive marketing strategies to get your unit maximum exposure through the various mediums and more.
In addition, it will be best to understand more on the market insights and caveats of your intended purchase as well as for me to run through the overview procedural framework. Sell-Buy process should be expedited on a step by step basis, to ensure no financial liquidity complication and no wrath of regulations.
D Kumar
+65 96659926
ERA Associate Division Director
www.kumarrai.com (Awards and Testimonials)
#1 team of ERA in Singapore, Asia Pacific International for 2014.
ERA 2015 Q1 Top Achievers (Top 1% of ERA)
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award
P Group
2015 Feb/ April/May ERA Top Achievers
2014 Aug/Sept/3rd quarter/Dec/ Overall 2014 ERA Top Achievers Read More
Good evening Chantal,
Sorry to inform you that contra is meant for HDB transactions.
If you dont wish to incur ABSD for your upgrading, we can sit down and discuss about it.
I will provide you with a few proposal/ solutions. From there, you will have a better idea which plan suits you more after a constructive meet up.
Hear from you soon!
- One of well-earned Star Performers under the category of Top Private Property Transactors in Jan 2017-
Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480
(M): +65 9111 5171
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yt.tan91115171/ Read More
Sorry to inform you that contra is meant for HDB transactions.
If you dont wish to incur ABSD for your upgrading, we can sit down and discuss about it.
I will provide you with a few proposal/ solutions. From there, you will have a better idea which plan suits you more after a constructive meet up.
Hear from you soon!
- One of well-earned Star Performers under the category of Top Private Property Transactors in Jan 2017-
Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480
(M): +65 9111 5171
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yt.tan91115171/ Read More