15 Answers

YT Tan (陈永达)
Good evening buyer,

Yes you are eligible to do so as long as you have fulfilled MOP of your flat but do take note that you will incur ABSD and have to come out with more downpayment if you still have outstanding loan.

If your HDB was purchased with your spouse and the private purchase is with your spouse as well, you are able to apply reimbursement of ABSD as long as you sell off your HDB within 6 months from exercise of private sales and purchase agreement (IRAS will treat as matrimonial home if one of you is SC and the purchase is your only property).

Alternatively I can offer you another solution but need assistance from developer's side.

Will you be keen to find out more?

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R043025D
Propnex Realty Pte Ltd

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Ivan Ng
Good evening,

Yes as long as the MOP of 5 years are met, you can purchase the new launch condo before selling off the HDB, just that there will be more upfront costs in the form of a higher downpayment (if you already have an outstanding home loan) and also ABSD will be incurred as its considered your 2nd property.

If this HDB is your jointly owned 1st matrimonial property and there is at least 1 SC owner involved, you can still be eligible to qualify for the ABSD refund provided that the current HDB property is sold within 6 months of the key collection to the new jointly owned matrimonial private property.

I have also worked on similar cases before and worked out a suitable timeline with the Developer side for an arrangement that helps to meet the buyer requirements. It would be ideal if I could have more details about your plans so to make more personalized recommendations.

As we are not able to contact you here, please get in touch with us at 97432395. Perhaps I could have more info about your plans so 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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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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Mark Ng S W
Hi Yes it is possible however there are few things to take note. Do contact me at 97970200 to discuss more

Mark, your RIGHT choice
Propnex
Nick Tan
Dear Sir/Mdm,

Of cos you can. So far all my clients who upgraded from HDB to a new launch condo did not have to pay any ABSD. It boils down to proper planning in terms of timeline and cash flow for my clients.

Let me share with you an example, one of my clients recently managed to have 9 months to market their HDB properly and I managed to secure a buyer who paid a record high price within a 2 months marketing period.

Please feel free to contact me so that I can understand your situation and objectives better so that I can draw up a timeline for you.

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

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Testimonial from Satisfied Clients

“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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Susana (Buyer)
Stewart Lim
Hi, welcome you for a free sharing over coffee. Stewart-Propnex 9696 4398
Aaron Chong
Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead. By the way, yes it is possible to purchase a new launch condo first without selling your HDB yet. I am doing a couple of new launch projects at the showflat currently and perhaps I could assist you and to explain further ?

Regards
Aaron Chong
9730 8455
aaronchong2774@yahoo.com.sg
Lyna Song
Hi;

Yes, you most certainly can provided your current HDB has already met the 5 years Minimum Occupation Period. However, proper planning and execution is crucial in order not to incur ABSD for you situation as there are risks involved. Please do contact me for further discussion as im unable to contact you here. Thanks

Rgds;
Lyna Song
9623 8442
Associate Group Director
Propnex Realty Pte Ltd
lynasong@hotmail.com
https://www.wa.me/6596238442
Taufik Hussein
Hi
For stamp duty, you are required to pay after 14 days you exercise your OTP for private property. Remission on the ABSD for married couples can be made if you sell off your HDB within a period of 6 months from the date of purchase for completed property or from the date of of TOP/CSC issued for uncompleted property. Do get back to me at 93375051 for more details in regards to this.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd
Shawn Sharan
Hi Sir / Ma'am

It is possible. As previous agents have highlighted. If that new home is under matrimonial home. You have 6 months to sell after you move in and claim back the Absd.

However Generally in most cases I Don’t do it for my clients and instead follow this

Step 1:We sell the hdb before the purchase
Step 2: Rent a unit or rent back from purchaser of your hdb unit
Step 3:Rent unit till new launch is ready
Step 4 Move in

This is done mainly because though is possible to get remission:

1) Its alot of cash upfront,

2) You may need cash proceeds from your HDB to proceed to buy your new home

3) Lastly you might be under pressure to sell hdb within 6 months. Hence your negotiating power is usually not so high.

4) May be restricted on your CPF usage.

Do reach out, so can understand your transition needs and advise on:

1) Down payment needed
2) Cpf payment for purchase ( Cpf OA + Accured I/r)
3) Timeine and procedure

Not to worry. No hard selling.
Shawn Sharan
Hi Sir,

It is possible. As previous agents have highlighted. If that new home is under matrimonial home. You have 6 months to sell after you move in and claim back the Absd.

However Generally in most cases I Don’t do it for my clients and instead follow this

Step 1:We sell the hdb before the purchase
Step 2: Rent a unit or rent back from purchaser of your hdb unit
Step 3:Rent unit till new launch is ready
Step 4 Move in

This is done mainly because though is possible to get remission:

1) Its alot of cash upfront,

2) You may need cash proceeds from your HDB to proceed to buy your new home

3) Lastly you might be under pressure to sell hdb within 6 months. Hence your negotiating power is usually not so high.

4) May be restricted on your CPF usage.

Do reach out, so can understand your transition needs and advise on:

1) Down payment needed
2) Cpf payment for purchase ( Cpf OA + Accured I/r)
3) Timeine and procedure

Not to worry. No hard selling.
Shawn Sharan
Hi Sir,

It is possible. As previous agents have highlighted. If that new home is under matrimonial home. You have 6 months to sell after you move in and claim back the Absd.

However Generally in most cases I Don’t do it for my clients and instead follow this

Step 1:We sell the hdb before the purchase
Step 2: Rent a unit or rent back from purchaser of your hdb unit
Step 3:Rent unit till new launch is ready
Step 4 Move in

This is done mainly because though is possible to get remission:

1) Its alot of cash upfront,

2) You may need cash proceeds from your HDB to proceed to buy your new home

3) Lastly you might be under pressure to sell hdb within 6 months. Hence your negotiating power is usually not so high.

4) May be restricted on your CPF usage.

Do reach out (+65-90880558) so can understand your transition needs and advise on:

1) Down payment needed
2) Cpf payment for purchase ( Cpf OA + Accured I/r)
3) Timeine and procedure

Not to worry. No hard selling.

Attach is my new launch condo link:
https://www.shawnsharan.com/new-launches

Tx
Shawn Sharan ( +65-90880558)
Huttons
Robbie Chen Chee Howe
Hi,

Yes, you can commit to a new launch as long as you have served your 5-year MOP for your HDB flat.

In terms of ABSD, should you purchase the new launch before the approval of sale for your HDB flat, you will need to pay the ABSD for your next purchase upfront.

You can however apply for ABSD refund should you sell off your HDB flat within 6 months upon the TOP of the new launch. This is provided this new launch is bought together with your spouse as your matrimonial home.

There are other options in today's market which you may also consider that I wish to further discuss with you.

I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your housing 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
Shoan Siew
Hi Sir, you may contact me at 98216829 to discuss further as there may be some risk if the timeline is not plan carefully.
Tks
Shoan
OTT
Silvia Yang
Hi Sir/Madam

I am unable to advise without further info such as full address, condition of the unit, facing/direction, etc
I will be glad to assist

I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508 or Silviayang8@gmail.com with details of your unit
or click here http://bit.ly/2tzIQ1a to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

PropNex Realty Pte Ltd
Mobile: (65) 9660 8508
Email: Silviayang8@gmail.com
OHMYHOME PTE LTD
Greetings from Ohmyhome!

Yes, you can purchase new launch condo if you have fulfilled your HDB MOP period.

You can apply for ABSD remission if this is your 1st matrimonial home and you sell your HDB within 6 months after taking possession.

For more information, kindly contact us at 68869009 or WhatsApp us at 97551009.

Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd