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Dear sir,

Am sorry to hear about your unemployment for the last 1.5 years. May I know if you have the intention to keep this condo moving ahead or do you plan to sell off this condo? To transfer a share of this property to your girlfriend, she will be subjected to Additional Buyer's Stamp Duty since it will be her 2nd property. If the objective for you to add in her name is to assist in supporting the upcoming home loan, the possible plan moving forward will be to sell your girlfriend 1% share of this condo such that the ABSD incurred will be on the 1% well your Seller's Stamp Duty incurred will also be on the 1%, where it could be 4% or 8% for the Seller's Stamp Duty depending on the contract date of your purchase. If you are able to hold out to after 3 years from the contract date of your purchase, the sale of 1% share will not be subjected to Seller's Stamp Duty.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Hi Sir,

In order for your gf to contribute to the house, your gf will need to withdraw her name from the HDB that is co owned with her parents and after which you can sell a part of your shares to her and therefore she can make use of her income to secure a loan and contribute her CPF towards the house.

Please feel free to contact me if you need any further assistance.

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

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

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)
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and t Read More

Hi,

Sorry to hear about the situation. As long as the MOP of 5 years are met, it is possible for her to add her name into the property to co-fund the purchase. If possible financially, it is better for her to remove her name from the HDB so that the ABSD will not be incurred as a 2nd residential property if you decide to sell a part share of the condo to her. Once as a owner, she can use CPF OA to contribute to the condo purchase.

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
ERA Diamond Achiever

ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
ERA Top 91 Achiever in 2nd Quarter 2020 (Top 2% Company Level)
ERA Top 15 Achiever in April 2019 (Top 1% Company Level)
ERA Top 86 Achiever in Sept 2019 (Top 2% Company Level)
ERA Top 510 Achiever in Year 2019 (Top 8% Company Level)

SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

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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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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.

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Hi,

1) It is regret to hear about your unemployment.
2) If you are going to let go of your property now, you will be subject to an SSD (Seller Stamp Duty) of 8% or 4% if managed to struggle to the 3rd year.
3) If your gf flat already fulfilled MOP, you may consider inserting her into joint-ownership with you.
4) To take over 50% of the property share might be stressful on her finance.
5) But if she is fine with having a lesser percentage share on the property. You can consider transferring 10%~20% of your property so that she doesn't have to spend too much on ABSD.
6) And you don't have to pay a hefty SSD as well by parting smaller shares to her.
7) I suggest you speak to your banker to have an assessment on your gf, and the banker can advise on the amount of the loan and how much cash is needed if there are any.
8) The banker will be able to recommend a lawyer to assist you with the paperwork as well.
9) She will be able to make use of her CPF to service the loan as well once ownership is set up.
10) Just let me know if you need a banker for this.
11) It is a wise choice to put your money on a property in 2019. Hang in there, good thing will turn out from there.

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 Sir,

May I know if your reason to add her name in is to use her CPF for the financing of the condo?

If so, you will need to take note on the minimum sum she will need to set aside if she had utilised her CPF monies for the HDB flat she co-owned with her parents, before being able to use the balance for a second property.

If she has sufficient CPF monies, then you might want to consider the option of her purchasing a share of the condo, so that both of you can continue to finance for the condo.

However, do take note that if her name is to be added in, you will have to redo another loan. And your loan amount may be affected as you're currently unemployed. Hence, her income (and age) has to be able to substantiate the loan for the condo too.

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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