Hi,
Once the OTP for your current place is exercised, you are no longer considered the legal owner and hence have zero property count. When you then book your next unit, it will be considered your 1st property as an SC, and hence no ABSD is payable.
Your timelines need to be timed carefully in terms of financial planning and moving out transition so to minimize costs outlay and hassle.
I'm not sure why you will have this concern that the first property completion will not go through once OTP is exercised. These cases are the exception rather than the norm. If it didn't complete, depending on case circumstances, you maybe able to sue for specific performance. Its best to seek legal advice if such event arises. 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
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials)
Read More
