AskGuru Q&A Community

Afternoon Denise,

You have purchased the unit prior the release of SSD hence you are not liable for it. Stamp duty is only payable by buyer and seller is only required to pay for legal fee. As for the purchase of apartment, you will then be required to abide by SSD requirement, pay ABSD (if you are PR), and standard stamp duty plus legal fee.

Do feel free to contact me for further discussion.

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

Hi Denise,

Glad to inform you that you will not get penalised. Your expenses are listed below:

When Selling
1) Agent Fee (2% of your terrace house price) when selling your terrace house
2) Legal fees (est. SGD2500) when selling your terrace house

When Buying
3) For Singaporean with no other properties, standard Buyer Stamp Duty (3% of your new apartment price minus SGD3540) when buying your new apartment.
4) Legal fees (est. SGD2500) when buying your new apartment

Set aside another sum for renovation and furnishing and you are good to go.

It is advisable to speak to a banker or myself to assess your financial ability before you even sell your terrace house.

Mike Heng
BSc in Finance
(M) 9274 1350 
(E) mike_hengtk@hotmail.com
DTZ Property Network Pte Ltd - R044169H Read More

Hi Denise,

You wont be subject to any seller's stamp duty as you purchased your landed before it's being regulated.

If you choose to purchase an apartment before disposing off your landed, you will be subject to additional buyer's stamp duty in accordance to your nationality.

If you are SC purchasing the apartment with your spouse and that property is your only property, ABSD will be refunded as IRAS will treat it as your matrimonial house if the landed is sold off within 6 months from the purchase's completion date.

Hope it helps!

Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior District Manager
R043025D
ECG Property Pte Ltd
(A Wholly Owned Subsidiary of ECG Group of Companies)
Estate Agent no. L3009759F
Blk 190 Lorong 6 Toa Payoh #05-508 S (310190)

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