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If you sell a condo that is still under development and currently in the first year, what are the charges involved that must be considered so that one could break even? Would any agent take up such challenging sale?
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2 Answers

Mike Lim
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Afternoon Raymond,

The SSD required for sales of property that's only less than one year from signing of S&P will be 16%. With standard stamp duty, possible bank charges and penalty for early repayment, you will need to mark up at around 23% to 25% of your purchase price to break even. Given today's market, it might be very tough to work around it.

FYI.
Mike Lim
 96929209 
m52i@yahoo.com
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  • RK
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    Thanks for the honest update.
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