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Hi,

Yes its possible to sell in the open market or to developer. You will be liable for ABSD when you purchase the next property. The best way to structure it depends on who's taking the loan and ownership profile. Thanks and may I have more details so to value-add to your plans? Let's discuss further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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SMU BBM (Finance), Magna Cum Laude

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Good evening seller,

It's perfectly fine to sell your landed in the resale market or developer if your land is reasonably priced for them to redevelop.

Btw do take note that you will be subject to 7% ABSD as SC for your second property purchase (if you still have HDB but existing landed has been sold).

There are some ways to tackle it. You can choose to decouple your HDB with you as occupier so the purchase of landed (terrace or semi D) will be considered as your first property purchase (no ABSD).

But by doing this, your wife must be financially capable to return those funds you had utilised in the HDB.

Probably you can share more with me so I will be in a better position to advise and assist you further.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
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Evening,

It would be good to understand your intention for selling your freehold landed property. Are you looking at downgrading and cashing out? Do also note that since you have an existing HDB unit in hand, should you opt to sell your landed property to purchase a semi-d or terrace house, you will be required to pay an additional 7% ABSD.

Do contact me further should you require my services.

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

Dear sir/madam,

I would assume that you have already met your MOP for your HDB in order for you to be owning 2 properties concurrently. You will be eligible to sell your existing landed home and purchase another landed home, however, do take note that if you do not intend to sell your HDB, you will then be subjected to Additional Buyer's Stamp Duty as your purchase is considered your 2nd property, on top of the normal 3% stamp duty for all properties purchases.

Typically for resale property, I would advise only for owners on pricing matters since selling to developer or end consumer will still result in the same proceeds for the seller, and it is unlikely that a developer will pay a premium for the purchase given that the profit margin is the main consideration for every project, unless if you wish to make a special arrangement to purchase back the property from the developer after redevelopment, which makes no sense.

If you are looking to move into a new landed home, how about redeveloping your existing landed home instead since you will not incur ABSD as well as commission and legal fees for the sale and purchase?

I dare not say that I have alot of experience dealing with landed homes, but I am dealing primarily with the sales and purchase of landed homes (brand new or resale) for the past few years to know a thing or more. If you wish to discuss this further, it could be beneficial to speak to you in person and perhaps can share more insights on current landed homes transaction trend, landed homes buyers behavior and preferences to help you in your decision making process.

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
CEA Reg R014783H
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