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Hi

SPR can buy or own an EC after the MOP.

You may text 9620 0827  for a casual chat. We will need to understand your situation better before advising further.

Warmest regards

Gavin Read More

Good evening,

I heard you.

What you are trying to do is decoupling. A SPR can own a resale EC (MOP-ed) solely so no problem if you wish to buy over your wife's ownership.

Estimated stamp duty payable will be 50% x $1m x 8% stamp duty (- $5400)

Will you prefer me to work out your figures for decoupling between these two scenarios first before decide who should be the one owning on to existing condo and buy another?

(1) you take over existing condo, she buys another
(2) wife takes over existing condo, you buy another

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
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Dear Sir,

This process is called decoupling. As a SPR, you will need to pay the BSD and ABSD on the 50% of property which is about 500k. The total stamp duty is about $34,600. The legal fees for decoupling is about 6k.

I have personally assisted many of my clients to decouple and purchase another property. Please feel free to contact me so that I can understand your situation better and provide you with step to step guidance and assistance.

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Nick Tan
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Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi
I understand you are trying to do a decoupling process. In this case, you will need to pay BSD and ABSD on 50% ($500,000) for your wife portion that you bought over.
BSD - $9,600
ABSD 5% - $25,000
Total: $34,600
I can provide a more detailed advise on how you should go ahead with your plans moving forward. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Mohammad Taufik Bin Hussein (Taufik Hussein)
ERA Realty Network Pte Ltd
CEA Reg No: R061607B
Contact No; 93375051  Read More

Hi,

The process you have described is actually the decoupling process, which I have helped some of my clients to process with. Yes it looks feasible since the mortgage loan is already under your sole name.

Some of the things to note.

1) You need to refund the CPF utilized + accrued interest for your wife under this current property

2) If you are taking a higher loan more than the outstanding amount, your age and income must qualify for the higher loan based on the new TDSR criteria

3) The stamp duties payable (BSD + ABSD) is approx 8% of the market value of the 50% share transferred by your wife. In this case, approx 8% of $500k around $40k

4) There are also legal fees of approx $6k for decoupling process

5) There is also potential bank admin fees for redeeming the bank loan, which usually is waived if you go with the same bank on the refinancing/repricing

Look forward to assist on your case too. 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 Realtor
ERA Senior Marketing Director
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Hi,

1) You are buying a 50% share from your wife. Let's assume your current EC market value is $1M.
2) Your stamp duty are as follow:
(a) BSD = $9,600
(b) ABSD = $25,000

3) You have to speak to your banker to see how much you could loan from the bank in order to understand whether your decoupling plan can work according to your needs.

Hope the above answer to 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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Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly. Read More

Hi Sir,

Yes, you can "buy over" the shares of your current property from your wife once you had met the MOP.

Stamp duties would be based on the property value, and the amount of shares being transferred. As you're a SPR, ABSD of 5% is applicable too. In your scenario, if the property is valued at $1m, 50% ownership would mean that stamp duties is based on $500k. The sums is as follows:
BSD: $9600
ABSD: $25000

Once the transfer of ownership has been settled, your Wife would be able to purchase another private property without incurring ABSD.

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