I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, there isn’t really a need to do the purchase first and it really depends on each household whether is there sufficient CPF to fund the purchase of you intend to buy first. Most of my upgrading cases will be selling the HDB flat with an extension of 3 months and then doing the next purchase concurrently once the existing flat is sold. In this way, my client does not have to move twice and there be sufficient timeline too.
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For ABSD refund, to be eligible there needs to be at least 1 citizen in the household, and jointly owning the existing property and jointly purchasing the next property. The existing property also needs to be sold within 6 months of the purchase of the next property. A 99-1 share ownership is also possible for the private property.
If you need the sale proceeds to fund the downpayment of the next property, we will need to time the transaction such that the sale completion is approx 3 weeks before the purchase completion. In that case its better to secure a buyer first before proceeding with the purchase so that the above timeline can be met and you can also avoid the ABSD upfront since the existing property is already considered sold upon the exercising of the OTP of your property buyer.
I have assisted clients to do the same and help them to successfully transit smoothly. Look forward to work together on the housing plans! I'm contactable at 97432395 .
Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.
Ivan Ng Realtor
ERA Senior Marketing Director
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SEAA Salesperson Achievement Award 2021 (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)
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ERA Top 11th Achiever in June 2020 (Top 1% Company Level)
ERA Top 91th Achiever in 2nd Quarter 2020 (Top 2% Company Level)
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ERA Top 86th Achiever in Sept 2019 (Top 2% Company Level)
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Contact: (+65) 97432395
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-- 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.
- Condo Seller Mr & Mrs Wee : We would like to share our appreciation and commendation to Ivan for their professionalism and dedication in handling our property transaction. It was a great pleasure to work with him as he was patient throughout the entire process and explained to us and clarified any doubts we had without fail. He was also very prompt in responding to all the queries we had. While we were unsure if we were able to sell off the property in time, Ivan constantly reassured us that it was possible and offered his professional advice. In fact, he managed to secure an offer to sell the property above our expected price while concurrently negotiated the buying price for our next property. Having Ivan as our agent significantly made the entire process seamless and fuss-free. We will definitely recommend Ivan to our family and friends. Read More
As long as the new property is purchased together with you and your wife both as owners (regardless of the manner of holding), you will be eligible for a refund if there are at least one Singapore Citizen in the household. However, you must note that the ABSD must be paid first and you are only eligible for reimbursement if you managed to sell your HDB within 6 months from the TOP of the new project.
I have assisted my clients who are in the same situation to plan their timeline. Feel free to contact me so that I can give you an in depth explanation of the processes.
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
SEAA Salespersons Achievement Platinum Award 2020 / 2022
Visit my website to get to know me better:
I was featured recently on Council for Estate Agencies (CEA) Newsletter:
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 Read More
You will be eligible to apply for ABSD remission as long as you fulfil the conditions.
- both of you are married
- one of you is a SC.
- after selling HDB, private property will be your matrimonial home
- you have to dispose off your interest in HDB within 6 months from HDB exercise date.
Have anyone work out the numbers for you yet? When will be a good time to meet and discuss your options and timeline?
You are thinking of buying a resale or new?
If resale, we can do concurrent activities as well.
Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?
You dream. I create. We make it happen!
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Singapore Accredited Mortgage Planner
Mobile: 91115171 (wa.me/6591115171)
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Feel free to reach out to me at https://wa.me/6585711399 and I’ll get back to you ASAP. I seldom monitor this forum.
Tobby Oei | ERA Realty Network Pte Ltd
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ABSD remission is possible as long as you fulfill the following conditions:-
* both owners are a married couple
* at least one of you is a SG citizen
* you have to dispose your HDB within 6 months after private property sales completion/TOP
* after selling HDB, this private property will be your matrimonial home
Please contact me soonest so that I can advise you on your best private options. You also do not pay me any fees as I will collect from the seller's side.
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In order to get ABSD refund, either of you must be a Singapore Citizen, and the property you purchase must be under both your names. You will also need to dispose off your current HDB within 6 months of your private property purchase.
You can hold the property under Tenancy-in-Common like you suggested.
However, I can assist you to plan in such a way that you do not need to fork out ABSD for your private purchase, and yet still have ample time for you to shift into your new home. I think this would work better for most people.
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.
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