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Good morning buyer,

Let me help you on this.

Your wife doesn't need to sell off her properties in China if she purchases a private property with you in Singapore as you are not purchasing a HDB with her. Only purchasing a HDB will require her to do so.

May I know do you intend to sell off your current HDB first then buy or purchase first then sell?

Because if you decide to buy first then sell, you will be subject to 7% additional buyer's stamp duty as Singapore because the purchase will be considered as second property purchase under you.

If you decide to sell then buy, your initial outlay will be as such if you are able to obtain max 80% bank loan:

1) 5% cash downpayment
2) 15% CPA OA or cash downpayment
3) estimated 3% buyer's stamp duty
4) $2.5k legal fees
5) valuation fee etc

Even though your wife is a SPR, both of you dont have to pay ABSD as IRAS will treat this "first" property purchase as your matrimonial house thus you will be exempted.

Hope my sharing is beneficial to your property purchase.

May I know how can I continue to value add in this purchase?

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com Read More

Hi,

Yes its possible to purchase a condo under joint name basis and she need not sell her overseas properties. If you decide to buy first, and sell hdb later, ABSD of 7% is payable.

If you decide to sell hdb first then buy condo, the breakdown will be as follows:

Cash 5%
Cpf 15%
Max bank loan 80%
Stamp duties (bsd+absd) approx 8% , as SPR will incur ABSD of 5%
Legal fees approx 3k

Whether you can get ABSD remission of 5% in this case depends on IRAS approval.

May I understand your requirements so to make better recommendations? Thanks and hope to value-add to your housing plans further.

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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Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Hi Sir
Yes, you can sell your HDB and buy a condo register under both your names. Your wife does not need to dispose off her property in China. (only HDB has such restrictions)
Below are the upfront payment you need to prepare for condo purchase.
For 1M condo, upfront cost will be as below (230K)
1) 5%
2) 15% CPF/cash
3) 3% (buyer stamp duty)
This is on an assumption of eligibility of 80% loan.

Feel free to call for further discussion or email for a list of carefully shortlisted properties based on your specific criteria.

Warmest regards
Belinda Zhao
Associate Marketing Director
CEA Reg No. : R051311G
Huttons Asia Pte Ltd
Mobile: (65) 9628 0661 
Email: belindazhao1@gmail.com
Property Listings :http://www.findnewlaunchsg.com/ Read More

Hi owner,

No your wife don't need to dispose of her China properties. Most importantly, you'd have to have cleared your HDB loan in order to qualify for maximum loan for the condominium; you'd also have to sell off your HDB first to avoid the 7% ABSD. Besides that, the standard BSD + legal fees ~3% applies.

Feel free to contact me at your convenience, and we can take this further from there.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More

Afternoon,

You can sell your HDB unit and opt to buy private property in SG. Depending on your income status, credit record and age, both of you can get 80% loan. By doing so, you can avoid payment of 7% ABSD.

Do contact me further for discussion.

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

Hi Sir,

1. Yes you can sell your HDB and purchase a condo under both your names.

2. For a 1 mil condo, this is the breakdown in cost assuming you take up a 80% loan or 800k loan
a. 5% CASH - $50,000
b. 15% CPF - $150,000
c. Stamp Duty - $24,600 (payable by CPF)
d. Legal Fees - $2,500 to $3,00 (payable by CPF)

3. Your wife will NOT need to dispose off her properties overseas.

Please feel free to contact me so that I can assist in your sales and purchase process.

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

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Hi,

Re: Our Preferred Experienced SG Professional

Firstly, private condo do not have rules to dispose overseas property upon purchase. You just have to have the financial advise for the housing loan by an experienced banker.

Call me now, we can explore further in detail.

I am contactable at 92222389  or onassis@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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