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More information on ABSD is available on https://www.iras.gov.sg/irashome/Other-Taxes/Stamp-Duty-for-Property/Working-out-your-Stamp-Duty/Buying-or-Acquiring-Property/What-is-the-Duty-that-I-Need-to-Pay-as-a-Buyer-or-Transferee-of-Residential-Property/Additional-Buyer-s-Stamp-Duty--ABSD-/#:~:text=Liable%20buyers%20are%20required%20to,whichever%20is%20the%20higher%20amount).
Should you need to speak to our financial home advisors, do feel free to Whatsapp us at: wa.me/6587695300 or
Hope this answers your question.
1) In order to avoid paying additional tax, you will have to do it correctly.
2) You can already proceed with your HDB purchase once your condo is exercised by the buyer.
3) Pass this condo exercised OTP to the lawyer as soon as you exercise the HDB OTP so that they have enough time to apply to IRAS for wavier on the ABSD.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636, or email: email@example.com if more information is needed.
I'll be glad to assist.
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Not to worry about absd unless you are a SPR.
You can even opt to buy a resale HDB first before selling (in which you had done so). Because you will have to sign an undertaking form to sell your private within 6 months from resale HDB purchase completion date.
Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?
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If you're a Singapore Citizen, you will not be liable for ABSD if you purchase a HDB resale flat.
In fact, if you have the ready funds, you can hold onto your condo, and purchase a HDB flat without paying any ABSD. You will then be required to dispose off your condo latest within 6 months upon the HDB flat purchase.
If you're a SPR/SPR purchasing your first property, ABSD of 5% is applicable for both HDB and condo purchases.
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.
No ABSD is payable for Condo to HDB transition even if you choose to purchase a HDB first and sell your condo later. Do contact me at 93375051 for a free and non obligatory discussion on this.
ERA Realty Network Pte Ltd