Asked by
Hi All,
I'm currently having a HDB (4A2) in sembawang where I have been staying for close to 10 years. I want to upgrade to a condo. I have cleared all the loan for my HDB and as such would like to do a contra such that I need to pay ABSD as if the condo were my 1st property. Is it possible to do so or will it be considered as a second buy ?

Best Regards.
0
752 views
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

6 Answers

Evening,

As long as you have the exercised OTP for your HDB unit, you will not be liable for ABSD, as SC. To facilitate the smooth transaction, we will need to know how much loan you can get and if bridging loan is required.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
0
Hi, I would suggest sell first then buy. This is to ensure the cash is ready for the purchase of the condo. Please drop me an email for me to share more details.
I can be contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
0
Dear sir/madam,

To avoid paying ABSD, the management of the buy and sell process has to be precise and it is good to consider selling first while you lookout for prospective units which you may like for your upgrade. In this way, you will unlikely waste anytime and be compelled to go into a purchase or hesitate on accepting a decent offer to purchase your current place because you have not found a suitable place yourself.

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565 /+65-92787772
Email: geryl7772@gmail.com

M.O.R.E Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now! Read More
0
Hi there,

To facilitate your interests, it would be best to sell off your flat first to ensure ready flow of cash etc. 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. Rest assured, i will walk you through the entire process.

Visit my website to view my testimonials & recent awards to gather more information on me: www.kumarrai.com

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

About Me-

ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
2014 December ERA Top Achievers
2014 3rd Quarter ERA Top Achievers
2014 August ERA Top Achievers
2014 September ERA Top Achievers Read More
0
Bala S OrangeTee
Hi

You can sell the hdb first then buy condo later. Once the selling exercised then proceed to buy/exercise the buying, then you will not be liable to the absd payment.

Regards

Ally Chin
M: 81122213 
E: cwsally@yahoo.com Read More
0

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Previously Asked Questions