AskGuru Q&A Community

Hi,

For selling of private property, there is no different from any previous time except you need to be aware of Seller Stamp Duty (SSD) which will be incurred if you sell your property less than 4 years from date of exercise option or 3 years for recent purchase.
For buying, PR will incur ABSD of 5% on top of the normal BSD. Do call 94386522  or email dfsr2010@gmail.com to advise your plan and I can value add in the selling and buying accordingly.
Thank you.
David Read More

Hi Rich,

The process of selling and buying for owner occupation requires timeline management in order to ensure you have sufficient time to shift and handover the apartment without the risk of potential conflicts.

If you sell within 4 years, you will incur seller stamp duty. On top of this, you may incur early loan redemption fees. It is wise to check with the bank or verify your loan documents to find out if there are any penalty fees.

Selling and buying will incur conveyancing fees, legal fees, basic stamp duty, additional buyer stamp duty, loan legal fees etc.

If you do not have sufficient funds or leverage, you may want to focus on the selling part first.

Best Regards,
Adrian See
 91880684  Read More

Hi,

If you have bought before 11 March 2017 and owned this property for at least 4 years, no seller stamp duties will apply. For SPR owners, its best to sell off the property first before buying as the buyer stamp duties costs will be lower, and also with current slow resale market it takes some time to secure a buyer. There will be an ABSD of 5% for your next purchase due to your SPR status on top of the usual 3%.

It be best to do a detailed financial and timeline planning before making any move. Will be glad to share more 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

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
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(Client's Testimonials)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --

Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.

Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.

Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.

--- HDB Flat Upgraders Mr. & Mrs. Lee ---

We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

-- HDB 5-rm Sellers Mr. & Mrs. Ting --

We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.

He is hardworking and committed to his work. He puts in great efforts in arranging clients for viewings and kept us updated thereafter. He is ever ready to help and guide us whenever the need arises.

He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.

Thanks, Ivan. Keep up the good work! Read More

Hi Mr Rich,

For your situation, I will recommend that you try to sell your current unit first before purchasing the other unit. In this way, you will be able to recycle the funds and CPF from the current property and channel them into the next property. Moreover, by doing so, you will only need to pay an Additional Buyer Stamp Duty (ABSD) of 5% instead of 10%.

For selling, you will need to engage a lawyer to do the conveyancing work and also an agent commission for the sale.

For purchase, it is more straight forward, once you can ascertain the loan you are eligible for, you will need to set aside at least 5% of the purchase price in cash for the down payment. As SPR, you will need to pay an Additional Buyer Stamp Duty (ABSD) of 5% on top of the normal stamp duty of slightly less than 3%. You will also need to engage a lawyer for the conveyancing for the purchase. For purchase, there is no agent commission to be paid.

I have assisted clients in the same situation as yourself. Please feel free to contact me so that I can understand your situation better and provide you with further assistance!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Featured on Council for Estate Agencies (CEA) Newsletter:
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“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“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.”
Susana (Buyer)

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“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.”
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“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Good day miss Rich .

To avoid paying the penalty SSD sellers stamp duty , you can sell only after few years ownership of the condo . For example it should be safe to sell without having to pay the financial penalty if you two sisters bought the condo BEFORE 2014 .

As for buying the next condo , P R will have to pay extra 5% ABSD additional buyer stamp duty , in addition over the standard 3% which every body has to pay.

Kindly contact me Joanne Chia handphone 8333 3327  for a no obligations chat for your property needs .

My charges are 1% commission for exclusive ( sole agent ) selling rights to your property , or 2% for open listing ( many agents ) .

No commission chargeable when i serve private property buyers .

Joanne Chia.
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More

Hi Sir/Madam

I will be glad to assist
When did you purchase the condo? if it was less than 4 years back then you need to pay the seller stamp duty
Please contact me at (65) 96608508  for further discussion
Thank you.

Warmest regards,

Silvia Yang Read More

Good morning,

Firstly, you will need to find out when you purchased the property. If it's less than 4 years from date of exercise of OTP, you might incur Seller Stamp duty.
As SPR, you will need to pay 5% Additional Buyer Stamp Duty for your first property ownership. Hence it would be ideal to secure a buyer for your current unit first before you proceed to purchase something else.
Other expenses like standard stamp duty, legal fee, agent commission for sales will be incurred too.

Do feel free to contact me for detail discussion.

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