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I am a married couple who is intending to sell my HDB unit to purchase a private property. Can I claim the 7% ABSD after I purchased the new private property under 1 name and sold off my HDB unit within 6 months
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6 Answers

Zheng Yanhui(Alex)
Hi,

Is the current hdb under your name alone ?
If it is under you and your spouse then you are not allowed to claim back the ABSD. In order to claim back, the new private property needs the both name. There is also a risk that you might not be able to claim back if you cannot sell wtithin 6 months.
I would still recommend you to sell your HDB first and get the extension from the buyer.

Feel free to contact me at 9273 6096  for other enquiries.

Regards
Alex Zheng
ERA Realty Network PTE LTD
Senior Marketing Director
HP:9273 6096
CEA: R048883Z
Email: Zheng_yanhui@hotmail.com Read More
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Hi,

ABSD refund is only for married couples (with at least 1 SC) who sell off their jointly owned matrimonial property after purchasing another property on a joint name basis. Essentially its for households with at least 1SC who change their matrimonial property. Any other scenarios is unlikely to qualify, its best to plan carefully so to avoid unnecessary costs. I be happy to share the best approach.

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
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)

-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --

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Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.

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Hi
Yes you can if the new property is under both names.
Do contact me at 97970200  or ngsiewwhye@gmail.com to discuss more on your best solutions

Mark, your RIGHT choice
MCG Read More
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Robbie Chen Chee Howe
Hi,

You will only be able to claim ABSD refund if the private property is purchased under joint-names as your matrimonial home.

Are you intending to purchase 2 private properties, one under each name? I may have a suggestion for you, would you be keen to explore?

Should you need any 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
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Dear Sir/Mdm,

The ABSD refund is only possible IF you purchase the condo under both your names as a married couple. With one name as the owner of the condo, you WILL NOT be able to refund the ABSD.

I would like to recommend you to secure a buyer for your HDB first before buying a condo! This is because the resale market is still sluggish and it may take some time to secure a buyer who is willing to pay the best price for your property. I have personally encountered homeowners who bought a private property first and thereafter were unable to dispose off their HDB within the 6 months.

They would have to forfeit the ABSD refund or take the pain and sell their HDB at a reduced price just so that they can secure a buyer.

I have assisted many of my clients in a similar situation as yourself. Please feel free to contact me so that I can run through the timeline with you and ensure that you will be in the best position for both selling and buying!

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

Testimonial from Satisfied Clients (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.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

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Mr and Mrs Chan (Sold and Bought a property through Nick) Read More
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Joanne Chia 谢诗琳
good day sir / madam .

As per your question , you can use 1 name only to buy a private property without paying ABSD IF the private property is purchase after the sale of your hdb . If using 1 name to buy , please note only owner qualify to borrow subject to TDSR , essentially borrower age , income and debt .

As for interim accomodation , You may negotiate for a 3months extension stay for your family in your hdb , IF the buyer of your hdb is agreeable .

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

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

No commission chargeable when i serve private property buyers .

Joanne Chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More
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