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Good morning Sir/ Mdm,

you can sell your property anytime but do take note you will subject to seller's stamp duty if the OTP is exercised within 3 years from your exercise of OTP or S&P.

You are eligible to refinance and still continue to sell your property but you might be subject to penalty if your loan package (sign in future) has a lock in period.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Good morning,

Based on the info shared, it is advisable to only sell and allow the next buyer to exercise the OTP on or after May 2024 so that your 3 year holding period is cleared. This will avoid the seller's stamp duty payable, and eat into your returns.

You may also want to consider a bank loan with a 2 year lock in period maximum so that there is no penalty during the sale in May 2024. Yes you can sell with the new mortgage loan no issue.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, in your case you may want to look for just a 2 years refinance lock in period and pls do note of the seller seller stamp period and ensure it is over first before the buyer exercises the OTP.

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

Hi,

1) There are no restrictions on buying and selling private property in Singapore.
2) There are only extra monetary costs incurred when you are doing it at the wrong time.

3) You may sell your property before completing the 3 yrs duration. Below are the extra costs that you will be subject to:
(a) Seller Stamp Duty (SSD) = 4% on the 3rd yr
(b) Penalty from the bank on early redemption during the lock-in period is around 1.5% of the outstanding loan. You have to check your mortgage document or check with your banker to confirm.

4) I believed the best option is to check with the banker what is the best option to have after the expiration of the lock-in period since you are planning to dispose of it within a few months.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Dear Sir/Mdm,

In order to avoid the Seller Stamp Duties, your buyer can only exercise the OTP after May 2024. If the OTP is excised before that, you will be subjected to the stamp duties. If you intend to sell the property, then there will not be a need to refinance the property because the cost involved will likely outweigh the interests that you can save from the refinancing.

Please feel free to contact me so that I can understand your situation 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
SEAA Salespersons Achievement Platinum Award 2020

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Susana (Buyer) Read More

Hi,

Yes, you are free to sell your private properties within the SSD period. You just have to take note of the SSD that is payable if the property was sold in less than 3 years of holding.

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.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More