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Hi, if you are looking for the best option to go easier on your pocket, it will be to downgrade by selling the condo and then purchasing a resale HDB. In this way, you would still have some spare cash in your bank account. Pls feel free to let me know if you need any assistance.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi,

Both options are available to you, it depends on which you are more comfortable with.

If your condo can sell for a profit, you might want to consider downgrading to a resale HDB. The cash will be useful in time to come for your child too.

If not, you can sell part of your share in your condo to you husband. Do take note that he will be liable to pay ABSD as this will be considered his second property.

I can help you assess these 2 options, and provide you with advice on which is more suitable for you. However, I need to understand more from you before I can make a better informed advice.

Should you need any 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 Read More

Dear madam,

In ideal situation, it is definitely the best to liquidate your existing unit at a profit and downgrade to a resale HDB, nevertheless, based on the year you have purchased, the price appreciation if any will also be quite minimal and the process of securing a buyer can also be quite tricky.

The more straightforward option will definitely be doing part sale to your husband, albeit that he will be required to pay ABSD and require the income level to pick up the loan required. Speak to a banker and lawyer on this aspect where possible to find out more specific details.

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Regards,

Geryl LIM
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Hi,

From the initial info shared, it does appear disposing the private property will make things less taxing, but if you are looking to purchase resale HDB again, you have to apply with your husband to form a family nucleus. This means he will have to give up his ownership in his current HDB.. which I am not sure if his dad and siblings are ready for that.

The other alternative of adding his name to the current private property will incur stamp duties (BSD+ABSD) depending on the share of amount transferred/purchased. There will also be legal fees and bank admin fees involved. Ideally its better to work out some calculations before deciding on the best approach.

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.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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(Client's Testimonials) Read More

Dear Mdm,

For option 1, your husband will be subjected to ABSD since he has a HDB under his name. Fees include legal fees and stamp duty.

For option 2, your husband needs to remove his name from his existing flat with his father and in order to do that, somebody must refund back all his CPF used for this property. This is the main issue that both of you have to tackle.

Hope I have answered your question.

Feel free to contact me should you need any assistance.

Thanks and Regards
Johnny Goh
R018297H
Associate Group Director
OrangeTee.com Pte Ltd
Mobile: 90906267 
Email: johnny.goh@orangetee.com Read More

Hi,To sell now will result in paying a penalty to the bank a you have just refinanced in 2016.

If your husband can take out his name from the family home, that would be good. Else, you can consider adding his name into your condo in a certain small ratio. Call me or email dfsr2010@gmail.com to understand further.

Thank you.

David PN 94386522  Read More