If you have already purchased a HDB flat and is a local citizen, you could only proceed to purchase a private property upon the MOP of the HDB flat which is 5 years later.
It depends on whether the HDB will be sold. If you are buying the condo and selling the HDB, then it is possible to time the sale and purchase to avoid the need to pay ABSD. However, if you are buying the condo as a 2nd property then ABSD is definitely applicable. Btw, I have a 2 bedroom unit for sale at The Bayshore as well.
Please feel free to contact me so that I can understand your objectives better before I can assist you further.
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“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.
Weilun & Benita (Property Seller)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)
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Mr & Mrs Tan (Seller of Inter-Terrace House)
“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even be
Yes it will be subjected to ABSD as its your 2nd residential property. However if you wish to dispose your HDB so to fund the purchase of this condo, there are ways to plan and work around such that ABSD is not applicable. We will have to get an exercised OTP for your current HDB first.
May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.
Ivan Ng Realtor
ERA Senior Marketing Director
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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --
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.
-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --
I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.
1. It will be depend if you are planning to sell your HDB. If you plan to keep your hdb and buying Condo then additional buyer stamp duty will apply.
2. Before shortlisting project/unit, I will suggest to check your in principal approval of your loan from banker. I can connect you with reputable banker for this, free of charge and no obligation.
3. For Singaporean Based on $1 mill, and assuming loan is 75%
5% Cash = $50,000
20% Cash/CPF = $200,000
BSD (Cash/CPF) = $24,600
ABSD (Cash/CPF) = might apply
Legal fee = $2,500 (estimated)
Please contact me at (65) 96608508 and I can share you the breakdown for this calculation including timeline.
4. How many bedrooms are you looking at and which area you prefer?
I will be glad to assist, no agent fee from private property buyer
Appreciate if you can contact me at (65) 96608508
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508
If you intent to sell your hdb and buy a condo , no ABSD if you are a singaporean .
Kindly contact me joanne chia at hp 8333 3327 for a no obligations chat for your property needs.
My charges are 1% for exclusive selling rights to your property, or 2% for open listing.
NO COMMISSION CHARGEABLE WHEN I SERVE PRIVATE PROPERTY BUYERS.
Joanne chia .
Hp 8333 3327 .
ABSD is applicable if you commit to a condo purchase while still holding onto your HDB flat.
If you're a Singapore Citizen, you will be able to apply for ABSD refund if you sell your HDB flat within 6 months upon the condo purchase.
If you wish to avoid having to pay ABSD (for 2nd property) upfront, then you will need to sell off your HDB first, before you commit to a condo purchase. The Buyer of your HDB flat has to exercise the OTP before you exercise the OTP for your condo purchase.
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.
1) I guessed there is a typo error. You are referring to the HDB owner instead of the buyer.
2) The IRAS works according to the number of property counts in local at the point of paying stamp duty.
3) Thus if you still own an HDB flat at the point of paying stamp duty, you will be subject to Additional Buyer Stamp Duty (ABSD).
4) There is 2 scenario where ABSD can be remit or excuse from paying:
(a) You already got an exercised OTP. You will be excused from paying ABSD.
(b) You are purchasing it as a matrimonial home. You can apply for remission after selling your HDB flat.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636, or email: firstname.lastname@example.org if more information is needed.
I'll be glad to assist.
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