The changes in the recent rules on Seller Stamp Duty will not affect you directly, as you have already held the property for 17 years. The rules only applies to those who are purchase from 11th March 2017.
Having said that, you might want to consider restructuring your property portfolio. Have your condo bought in 2000 reached its peak? Is this the time for you to cash out or maybe to multiply your assets?
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.
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As your property was bought 17 years ago, the recently revised SSD regulations will not affect you, neither will you be impacted by any SSD if you sell today. If you have held it for the long term, I believe the property would have appreciated reasonably. You may want to explore your options, reorganize your portfolio and secure your retirement. I will be glad to share more and analyze from your point of view.
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.
Ivan Ng ERA ASAP
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You're affected by neither the old nor new seller stamp duty schemes. You'd be affected for your subsequent property purchases from now.
Feel free to contact me should you need further clarification.
Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
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The seller stamp duty does not affect you right now.
With regards to selling your property in this testing and constantly evolving market, you may wish to consider appointing a professional to handle the entire sales responsibilities. For a nominal fee, what you would get in return is- sincere 100% commitment, succinct coordination of viewings, extreme grip and control on price and avoidance of price wars and ill practices. Sometimes, it is not limited to just arranging viewings or qualifying buyers, but more of a professional who will guide you on your financial sums ( amalgamation of sales proceeds and CPF return) etc, plus handle all the associated paperwork.
In this weak market, you would require an extreme level of professionalism and high knowledge level to help your property attain maximum exposure and yet reap a profitable purchase price. Furthermore, a preliminary non obligatory discussion would allow me to shed some light on my working style and comprehensive marketing strategies to get your unit maximum exposure through the various mediums and more. In addition, it will be best to understand more on the market insights as well as for me to run through the overview procedural framework. The selling process should be expedited on a step by step basis, to ensure no financial liquidity complication and no wrath of regulations. You can always view my website to asses my recent high levels of Awards and Testimonials!
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Seller Stamp Duty (SSD) & TDSR changes Mar 2017: What it means for you... Check it out
Seller's Stamp Duty (SSD) for Residential Property - IRAS
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The revised seller stamp duty changes does not affect you.
You can contact me if you wish to sell your condominium for a non-obligatory discussion.I can also recommend you your next real estate investment.
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I believe you have already gotten the answers to your question, however, how this market shift due to the revised regulations will affect the market will be crucial in affecting your plans moving ahead probably. It will be good to look deeper into these regulations prior to making any decisions on sale and purchase as not all sellers and buyers have similar objectives.
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You will not be subject to SSD if you sell now as you purchased your unit quite some back.
In the event you decide to purchase another residential property now, you might wish to hold it for at least 3 years before you sell due to the revised SSD regulation.
Sell within 1st year from date of purchase:
2) 2nd year - 8%
3) 3rd year - 4%
Hope my explanation helps!
May I know how can I assist you further in your property needs?
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YT TAN 陈永达 | ACCA Graduate, RES
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Kindly contact me for a no-obligations chat for your property needs .
My charges are 1% commission for exclusive ( sole agent ) selling rights to your property , or 2% for open listing ( many agents ) .
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