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hi Guru,
I am planning to sell my HDB flat jointly owned by my husband and me, then buy a condo (EC turned condo) under one of our names only. at which point of the transaction of the sale of my HDB can I start buying the condo without paying 7% ABSD?

Thank you very much
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9 Answers

Edvan Lee CK 李钊昆
Smart move!! This is the best time. End of the day, this is easily a 6 months to 1 year "project". Work with someone you can trust and have your interests at heart.

Ask less, share more. Let's connect and hope we can work things out together. All the best!! Read More
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Hi,

To be safe, you should do it only after the hdb 1st appointment has concluded. It will be ideal to do some financial and timeline planning so to ensure the transition is smooth and your potential objectives of 2 properties can be achieved.

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
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Hi, it would be advisable to purchase only after you have gone thru the 1st HDB appointment. I would be most glad to assist you further and pls feel free to let me know if you need any assistance.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Joanne Chia 谢诗琳
good day sir / madam

At the earliest, to avoid paying ABSD you can buy your private property after your hdb buyer exercise their option to your hdb , however to be on the safe side , you should wait till smooth successful completion of hdb 1st appointment .

Kindly contact me or a no-obligations chat for your property needs .

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

Thank you .

Joanne chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More
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Dear Mdm,

You may shortlist a few condo units or projects of your choice first. However, you should ONLY put a deposit when you HAVE SECURED a buyer for your HDB flat and your buyer HAS EXERCISED the option to purchase.

In this way, you will avoid paying Additional Buyer Stamp Duty. You will need to plan the timeline properly for your upgrade so that you can avoid a situation when you will need to find an interim place to stay. You may avoid this by requesting to your buyer of your HDB for an extension period.

I have assisted many of my clients to upgrade their properties seamlessly. Please feel free to contact me so that I can understand your situation and assist you further!

Regards,
Nick Tan
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Testimonial from Satisfied Clients (2015/2016)
“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)

“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.”
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“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.”
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“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

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Dear madam,

A banker has just shared with my team on Wednesday that te outright scenario will be after the completion of your sale, however, I do understand that there are conveyancing law firms indicating that as long as your buyer has exercised the OTP for the unit you have sold, you may enter into another sales and purchase agreement for the unit you are keen to purchase. They will assist in the application for ABSD remission. Nevertheless, do take note that there is always an element of risk that your sales may not be completed due to unforeseen circumstances even after exercising the OTP which may jeopardise or affect your plans moving forward.

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YT Tan (陈永达)
Good morning,

I will advise you to act on your purchase only after your buyer exercises on the OTP for sale so you dont have the risk of losing your 1% if buyer decides not to proceed with purchase during the 3 weeks option period. By doing so, you wont be hit by ABSD.

If you will like to be even more cautious that nothing will go wrong, you can choose to purchase only after first appointment. This is 100% certain that HDB approves the sale.

But do take note that if you wish to purchase after first appointment, you will have to request for temporary extension from buyers in order for you to have a smooth transition to the new place (shifting and renovation).

By the way, care to share why are you just looking at resale EC?

Perhaps you can share more with me so we can discuss and might be able to keep your options open for more suggestions.

I dont just buy, sell and rent. I care for my clients. =)

Hope to hear from you soon!

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GAN ENG JOO ONASSIS
Dear,

Re: Today’s SG Professional Choice- SGAgent.com & SGRealtor.com

Just to be safe and hassle from having issues. It best to completed the transaction of your flat with extension stay. Then exercise the OTP of the next property.

Remission sometimes will have issues if you did not properly timely the next property purchase while the existing flat transaction not completed.

I am contactable at 92222389  or onassis@sgagent.com / sgrealtor.com
In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

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Robbie Chen Chee Howe
Hi Ms,

According to IRAS, as long your buyer for your HDB flat exercised the OTP, you can proceed to offer for your condo without incurring ABSD.

However, my advice is to wait till after the HDB first appointment is completed, then you proceed to offer for your condo.

My reason for this advice is simple. We need to ensure that the HDB transaction is going to be smooth. Unforeseen circumstances and hiccups may occur on both Sellers or Buyers side, anytime from the time Buyer exercised OTP and the first appointment date. And we do not want this potential hiccup to jeopardize our plans.

Also, please take note that there will be NO ABSD Remission in your scenario. Because ABSD Remission is only for Singaporean couple buying matrimonial home under both names. To qualify for any potential ABSD remission, your condo should be owned by the 2 of you.

Should you need any assistance, feel free to contact me at my mobile 9748 6305  . I will be happy to assist.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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