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Currently My dad have a condo which is fully paid off. Will it be possible to me to do a part purchase from him @ lets say 50% of price value while he transfer the whole condo to me?

The propose is because actually half of it was paid by me in cash and the other was my dads. Now he want to sell it back to me so to get back his share of the condo.

Any guru is able to assist?
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3 Answers

D. Kumar
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Hi there,

Please feel free to contact me at 96659926  for a non obligatory discussion for me to better understand your requirements and specifications to be in a better position to advise you further in the most detailed and thorough manner. I will be more than glad to be able to assist.

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D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
dkumar@era.com.sg

About Me-

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Ivan Ng
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Hi,

If your objective is to get to the phase where each legally owns 50% of the property, it can be done but the purchaser of the 50% share needs to pay the relevant stamp duties (based on market value of the share) depending on his property count.

I am not sure why you are looking to do so as it doesn't seem to benefit you a lot except to facilitate a change in ownership in name but yet you have to pay the necessary costs. Thanks and may I understand your housing plans further?

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com
Www.ivanng10.com Read More
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  • JX
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    Hi thanks for the quick reply , the benefit is actually to liquid my father share of the portion of the condo which is actually using 50% of his money .

    so actual situation when buying the condo is

    -father 50% cash
    -son 50% cash
    -Condo is under father name
    - currently father need cash so son need to buy him out.

    currently i am also holding a HDB which is also fully paid sharing with my brother MOP is till 2017.

    I called HDB they said i am able to tranfer my portion of 50% to my brother with subject to payment of my cpf back to me . Just wanna clarify if its possible ? Then after i can totally take over my dad condo under my name?
Joanne Chia 谢诗琳
Replied
Good day Mr James Xu

The part share to buy over is subject to at least 3% stamp duty of market value .
Similarly the part share to transfer over is also subject to at least 3% stamp duty.
Kindly contact me for a no-obligations chat for your property needs .
My charges are 1% comm for exclusive selling rights to your property .

Joanne chia
Hp 8333 3327  Read More
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