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Hi,

Yes if you are buying first before selling the hdb, ABSD is payable upfront as IRAS based it on the number of properties ownership computed at point of purchase. It will be ideal to sell away the hdb first while doing the house viewing concurrently so to avoid this upfront ABSD outlay.

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

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

Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.

Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.

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.

--- HDB Flat Upgraders Mr. & Mrs. Lee ---

We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

-- HDB 5-rm Sellers Mr. & Mrs. Ting --

We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.

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He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.

Thanks, Ivan. Keep up the good work! Read More

Hi, the answer would be a Yes. So it is advisable that you sell away the current unit first and then purchase the next. With the weak market sentiment, it is much easier to buy as there are a lot of units selling below valuation and will be a good buy but a harder and longer time it will take to sell.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Dear Sir/Mdm,

Yes. You will be liable for ABSD if you buy first the studio unit first before you dispose off your HDB. You may want to plan the sale and purchase timeline such that you can avoid paying the hefty 12% ABSD.

I have assisted some of my clients to avod ABSD by planning the timeline. Please feel free to contact me so that I can understand your situation and provide you with further assistance!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg
I was featured recently on Council for Estate Agencies (CEA) Newsletter:
https://www.cea.gov.sg/docs/default-source/module/newsletter/3-2017/bouquets-for-property-agents.html

Testimonial from Satisfied Clients
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”

Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.

Weilun & Benita (Property Seller)

“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 provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer) Read More

Hi,
The answer is Yes, you are subj to the ABSD as your purchase without selling yr current HDB means its yr 2nd property so you have to pay ABSD. However you may claim back later but it involves other issues hence if its convenient I would like to meet you for further detailed discussion .

Best regards

Veronica Lim AG
Orangetee & Tie Pte Ltd
SalesPerson Licence : R019750I
Hp 94550898  Read More

Hi,

Single:
1) You are subject to ABSD if buy before sell. As IRAS count property according to current state.

Couple:
1) Even buying as matrimonial home, you will still subject to ABSD. Reason as explain above.
2) Can apply for remission upon selling existing property but there must be a SC in the formulae.

Hope the above answer to your main concerns, but if there are more queries, do not hesitate and 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

Note:
Any response to our answer do not reach us until we scroll through each and every queries posted daily.
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Dear sir/madam,

Additional Buyer's Stamp Duty (ABSD) is applicable in such a scenario where you have not disposed off your current property when you exercise the Option To Purchase to buy your 2nd property.

It is applicable for all purchasers falling into the above category and any remission of the ABSD will be subjected to the terms and conditions.

Should you be looking at not coughing up the ABSD first, we will need to look into proper transition from your sale to purchase as I know that it may not be easy to really find a unit that is ideal for yourself to move into despite many agents saying it is relatively easier to purchase than to sell. The intangible factors involved can be quite significant in such transitions.

Ring us up and have a more detailed discussion about your plans moving ahead perhaps so we can help you relate to the whole transition phase with our experiences dealing with similar case before.

I look forward to hear from you soon!

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Regards,

Geryl LIM
Consultant - Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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MCG Read More

Hi,

It depends on what you term as "secure". ABSD rates is taken upon the date of exercising of the OTP, not at the issuance of OTP.

So if you want to avoid paying the hefty ABSD, you will need to plan the timeline as such that the buyer for your HDB exercises the OTP before you exercises the OTP for the condo purchase.

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