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I own a HDB BTO with my husband.
We plan to sell it, buy a smaller resale HDB and a smaller condo separately to avoid the ABSD.
Is this doable?
We are in our late 40s, how does this affect our loan financing?
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6 Answers

Hi,

1) Once you buy a resale HDB, you will be tied to the MOP restriction.
2) Meaning you are not allowed to purchase any private property within this MOP.
3) You have to be registered as an occupier so that you can buy this condo after MOP without incurring ABSD.
4) Once you are registered as an occupier means that you are not allowed to utilize your CPF in financing the mortgage. Therefore it is not affecting your part.
5) The loan available is dependent entirely on your husband's income. Payment of down-payment, stamp duty using CPF will solely rely on your husband's financial capacity.
6) Pls do careful calculation before you embark on your plan, buying property is never an easy task.

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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Hi,

If your current BTO has met the MOP of 5 years, you can sell off the BTO. However, to purchase the resale HDB, you need to again meet another MOP of 5 years before you can purchase private property. Hence the intended method cannot work.

Alternatively, you can consider to sell off the BTO, and purchase an older condo or resale EC in 1 name, and a studio in the other name. This is feasible as long as the finances are workable.

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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I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.

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-- HDB Jurong West 5-RM Sellers, Exec Apartment Purchasers, Lenz & Michelle --

We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.

We appreciated your process of selling and buying of our property are very systematically and well executed, from financial calculation to the purchase procedure of our new house. We are always being updated thru our group chat during the engagement of your service.

We would never expect such a smooth sailing experience of selling and buying of property. Your professionalism in work will definitely be remembered and rewarded. All the best in your property venture! Read More
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Hi Do contact me at 97970200  to discuss more on your objectives.

Mark, your RIGHT choice
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Robbie Chen Chee Howe
Hi Mdm,

Yes it is possible, but the Timeline would be stretched to beyond 5 years.

This is because upon the purchase of the HDB flat, both the owner and the essential occupier would need to serve the 5-year MOP before being able to purchase another residential property.

You mentioned that both of you are in your late 40s, which means after the 5-year MOP, you would be in your mid-50s. This means that you can only loan for about 10 years if you intend to secure 75% loan. If you would like to stretch your loan to 20 years, you would need to put up a higher downpayment (45%). Not sure if this is what you're planning for?

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
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Dear Mdm,

This plan is feasible but if one of the purchase is a HDB flat, you will need to observe a 5 years MOP before you can proceed to buy another condo due to the HDB regulations. You must also take into consideration your financial position and cash flow and ensure that you do not overstretch yourself with 2 properties.

Please feel free to contact me so that I can gather more information from you and assist you to structure the purchase.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020
Visit my website to get to know me better:
www.nicktan.com.sg
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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)

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Hi Mdm

Yes and I will be glad to assist
Appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More
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