12 Answers

askguru expert
Hi there, thanks for writing to us on AskGuru.

IRAS will refer to the date of signing the option to purchase to see if you will need to pay the ABSD. Once your buyer has exercised the option to purchase your flat, you can proceed to exercise the option to purchase for your next property without having to pay the ABSD. If you are still unsure, you may contact IRAS to get a written response here: https://www.iras.gov.sg/irashome/Contact-Us/

Hope this answers your question.

Best Regards,

Team PropertyGuru Read More

0

Ivan Ng
Hi,

Once the OTP of your current property is exercised, you would be deemed to no longer own any property count and can purchase the next property without ABSD. However, do note that potential risk still applies as the current property has yet to undergo the full conveyancing and resale completion not done. If you need the sale proceeds of the current property to fund the next one, it may also be good to wait a while more before committing.

I have done similar cases and would be happy to share and plan the best approach. 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.

Contact: (+65) 97432395
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
W: ivanng10.com/clientreviews
(Client's Testimonials)
CEA: R052114D

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --

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.

-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.

-- 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

0

Gavin Ng
Hi

There are a few strategies to adopt and each comes with certain risks.

You may text 9620 0827 for a casual chat.

Warmest regards

Gavin Read More

0

Aaron Chong
Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead. By the way, you may proceed with your next purchase once the buyer of your old unit has exercised the OTP.

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

0

Lyna Song
Hi;

You can proceed to buy once your buyer exercised the OTP for your selling process. But do take note that if you need the funds from your current property to pay for your next property, then timeline is very crucial to ensure smooth transition. Feel free to contact me if you have any further queries. Thanks

Regards;
Lyna Song
9623 8442
Associate Group Director
Propnex Realty Pte Ltd
lynasong@hotmail.com
https://r025113i.propnex.net Read More

0

Nick Tan
Dear Sir/Mdm

It will be recommended to plan the sale and purchase concurrently so that you can avoid paying the ABSD, minimise your cash outlay by using the CPF and sales proceeds from your current property and also avoid the need for an interim housing solution during the transition period.

I will usually recommend my clients to only place an option for the next house once the buyer for the current place has exercised the option. In this way, the sale is assured and ABSD can then be avoided.

I have assisted many of my clients who are in the same situation to transit smoothly and seamlessly from one property to another. Please feel free to contact me so that I can draw up a transition plan for you.

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 appre Read More

0

Mark Ng S W
You can offer to purchase once the buyer have exercised the option to purchase. Do contact me at 97970200 to discuss more on the details.

Mark, your RIGHT choice
Propnex Read More

0

Robbie Chen Chee Howe
Hi,

You can actually start anytime, as long as your Timeline is properly planned. In fact, today, I just helped one of my clients OTP for a hotly contested unit, before they even find a Buyer for their current condo.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

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

0

Joanne Chia 谢诗琳
After the buyer of your condo has exercise the OTP , you can proceed to buy your next condo without paying ABSD .

If the condo you want to buy is a t.o.p ready unit , the best case scenerio for you is If you successfully negotiate with the buyer of your condo , to grant you 3 months extension stay In your present condo after sales completion , this 3 months extension stay will facilitate the transit farther , example , Time to shop for a suitable replacement condo , cash flow Issues if any , and renovation period for next condo .

Kindly contact me joanne chia at hp 8333 3327 for a no obligations chat for your property needs.

My charges are 1% for exclusive selling rights to your property, or 2% for open listing.

NO COMMISSION CHARGEABLE WHEN I SERVE PRIVATE PROPERTY BUYERS.

Joanne chia .
Hp 8333 3327 Read More

0

Jeren Tan
Hi,

Once the buyer of your current property exercise the OTP, you can purchase your next property without ABSD.

However good to plan and do both purchase and sale of property concurrently to let you able to move in to your new house before move out from your current property.

You can contact call me at 9623 5554 for an non obligation discussion.

Best Regards
Jeren Tan
9623 5554
ERA Realty Network Pte Ltd Read More

0

Taufik Hussein
Hi

You can proceed to purchase once your buyer has exercised OTP. Do contact me at 93375051 for a free and non obligatory discussions on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More

0

Silvia Yang
Hi Sir/Madam

It can happen concurrently with very careful timeline planning.
I just assisted my client who have similar concern

I will be glad to assist finding the right buyer as well
I am currently serving investors who are looking to buy private property, hopefully can match with your unit

Appreciate if you can contact me at (65) 96608508 or Silviayang8@gmail.com with details of your unit
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

0