Good evening buyer,
Yes you are absolutely right that to avoid 7% additional buyer's stamp duty on your second property purchase, it will be best to dispose off current condo first before proceeding with the purchase solely under your name.
If you want to purchase with your husband, it will be 10% ABSD and there won't be any remission as it will be applicable if the property purchase will be the only property that both of you own which means he has to sell off his HDB too. This might not turn out to be your liking as this HDB can be kept to receive monthly passive income.
Btw standard commission is 2% for property sale and 7% GST is levied on the 2%, not on the overall sale price (not 9% of sale price). But good news, my company is not GST registered (no GST is payable) so you don't have to worry about that.
In addition, normally buyers don't have to pay commission to their representative in private property purchase. We will receive commission from seller's agent or developer for new launches.
Hope my explanation helps!
Maybe you can get in touch with me first so I will be in a better position to advise you further. Hear from you soon!
Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727
(M):
+65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com
(W):www.propertyavenue.com.sg
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Well if I would like to skip y he 7%, then I will have to sell away my current condo before I can proceed to purchase the next one. How much agent fees to I have to pay for purchasing a resale condo? For new launch I know buyers do not have to pay commission. But not sure abt resale. Tks to advice.