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Hi, I have a HDB joint own name under my wife and me. We have secured a buyer for my HDB with OTP signed but due for the 1st appointment yet. We are keen to buy a condo under construction using my wife's name only but will like to find out if by placing a deposit/signing the OTP for the new condo will attract the second property tax levy? If yes, is there anyway to work around it?
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2 Answers

Lawrence Tan
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To be safe, wait till after the 1st appointment before signing the Option to Purchase for the next unit. Actually, if you do not want to miss out on the new property, most agents/developers can reserve the unit with a cheque... call me if you need help. Lawrence - 93365201  Read More
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Mike Lim
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Afternoon, Since the OTP have being signed and submitted to HDB, you have being positioned within the safe zone for purchase of the private property, without needing to pay the ABSD (If either of you are SC). In the case that your buyer opt not to continue with the purchase, you can always request for specific performance. Do note that only you are currently aware of your own financial standing hence do look into that factor as well. Regards Mike Lim 96929209  m52i@yahoo.com ERA Read More
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