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Good morning Sir/ Mdm,

Both of you can be co owner, you can use your CPF OA funds, either or both can obtain a bank loan up to 75% as owners.

Downpayment will be as such:

- minimum 25% downpayment
- 3 to 4% buyer's stamp duty
- higher of 5% ABSD as SPR or 20% as foreigner.

In my opinion it could be better to purchase the property under your sole name due to the difference in ABSD payable.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
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Association of Chartered Certified Accountants Graduate
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Hi,

1) Since both of you are funding the property together it is difficult to advise not to insert name as the owner.
2) If the SPR is the sole owner of the property, the ABSD is 5% for 1st property.
3) If SPR + FR is the owners of the property, the ABSD is 20% for 1st property.
4) If (3) is your intention, there are no issues as long as you are comfortable with paying the ABSD.
5) There is no issue with SPR utilizing funds under CPF OA for the payment and FR using cash to finance the purchase.

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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Dear Sir/Mdm,

As a SPR, your additional buyer stamp duty that you are liable is 5%. However, if you were to purchase it with a foreigner, then the higher tier of 20% additional buyer stamp duty will apply. Therefore you may wish to structure and time the purchase properly.

Please feel free to contact me so that I can explain to you in greater details!

Regards,
Nick Tan
(M) +65 9644 4854 
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Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi,

Yes of course! If it's a joint purchase, ABSD will be 20%.

If they purchase under SPR sole's name, ABSD will be 5%.

If they wish to have both names as owners, and yet minimise on ABSD, they may have to structure the purchase properly.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require 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