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Good afternoon Alvin,

It might be easier for me to advise you via a call.

But nevertheless let me give you a heads up first.

1) I will assume that your HDB is currently rented out. Do take note that sale must be without tenancy.

2) ABSD.
- HDB: Property A
- current condo: property B
- new condo/ clsuter: property C

- As long as you sell off A first, you will be subject to 7% ABSD on C purchase because it will be counted as second property purchase. But you can apply for remission if C is purchased under both you and your spouse and you are able to sell off B within 6 months from your purchase of C. IRAS will treat it as your matrimonial house.

If you dont want to come out with 7% ABSD at all, solution is to sell off both properties first then proceed with purchase. You can choose to lengthen the completion period for B and shorten the completion period for C so you wont have to find a temporary accommodation between transition.

Hope my explanation is not confusing and helps in your decision making. If you are still unclear, feel free to contact me. I will love to assist you. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
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(W): www.propertyavenue.com.sg Read More

Hi Alvin,

Remission of ABSD is only applicable when you are purchasing your 2nd property together with your wife and thereafter selling the existing one if your wife is also a co-owner, therefore there could be a number of scenarios possible in your case where you have more than 1 residential property at the moment.

We will need to know the manner of holding for each property you have before accurately answering you what are the ways to move forward in reducing or eliminating ABSD.

Do get in touch with me at your soonest convenience. Thanks.

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Regards,

Geryl LIM
Real Estate Director
Global Alliance - Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
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Evening Alvin,

Based on your enquiry, you have 1 fully paid HDB and 2 private properties that's under mortgage. If you are single, you can opt to sell away both condo and keep the HDB. By doing so, you will be able to obtain 80% loan for the upcoming purchase and only required to pay 5% cash for the downpayment. As SC, ABSD payable will be 7% on the second property.

Do contact me further for detail discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi,

As a baseline, it would be most apt to draw out the financial plan and execute the financial calculations and computations for further advise and recommendation. Do contact me so that I can walk you through this step by step. Do visit my website for my latest awards and testimonials @ www.kumarrai.com. Thanks!

D Kumar
 +65 96659926 
ERA Associate Division Director
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Good day Mr Kwek Alvin .

In your circumstances, possible no ABSD payable if you are singaporean , other conditions to fulfill too .

Kindly contact me for a no obligations chat for your property needs .

My charges are 1% commission for exclusive selling rights to your property , or 2% for open listing .

Joanne chia
Hp 8333 3327  Read More