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My parents have 2 condo and their names are shared under both. I do not have any unit under my name. We are thinking of buying and moving to a new condo ASAP while taking time to sell our other 2 condos. We only have enough cash on hand to buy the new condo if we sold both 2 condos. We have decent monthly income that is able to cover the new condo monthly. What is the best way to handle this while ensuring that we pay the lowest stamp fee for the new condo? Thanks.
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9 Answers

Hi,

May I know which new condo you are referring to? For some already TOP projects, the developer could have introduced deferred payment schemes which may be one of the solution. Alternatively, you may also consider to put it under your name first. Would need more info to recommend the best optimal solution.

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
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Hi Sir/Madam

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

I won't be able to contact you first as I do not have your contact, 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 (Silvia Yogisaputra)

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More
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Dear sir/mdm,

The given information is insufficient for us to provide feasible proposals on how you should execute this plan. Do you require both your parents income to purchase this new property? By indicating that there is only enough cash to purchase this new condo after selling both the existing units, do you mean the cash downpayment or do you mean the overall financing?

It will be good to share more details in private such that we will be able to work out the potential options where you do not need to pay the unnecessary stamp duties applicable.

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
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OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
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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. As the property market is weaker for now, it is advisable for sell the existing property first before you go on for the next purchase.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Hi Sir
I understand your concern as there are various pros and cons for each option that you can consider. To explain further on this, do contact me at 93375051  for a free and non obligatory discussions on this. I will explain in details of the various options available taking into consideration you and your family circumstances and profile.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
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Dear Sir/Mdm,

You are in a good position to proceed with the purchase and sale since you do not own any properties now. I would recommend the following options:

1. Buy a new property under your name first, wait for the property is ready before selling one or both properties if you have enough funds to complete the purchase first.

2. Buy a new property, sell one first to fund the new purchase and stay in the other one until the new property is ready to move in.

The timeline of the sale and purchase largely depends on your finances and cashflow and it can definitely be strutured in a manner to minimise the stamp duties that are payable.

Please feel free to contact me so that I can understand your situation better before I draw up a transition timeline for you.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

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HI

Few questions for you:

1. Since the new condo unit is under your name, and you have sufficient cash to pay for the new condo.
You do not need to sell your 2 condo, instead you should rent out the 2 condo for monthly income to pay for your expenses...

Let me know if you need more info

Thanks.

Raymond Lim
CCN Realty Pte Ltd
 91388805 
Email: limtecksoonraymond@gmail.com Read More
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Hi You able able to purchase a new condo while selling the other 2. Do contact me at 97970200  to discuss more on some options

Mark, your RIGHT choice
Propnex Read More
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Robbie Chen Chee Howe
Hi,

Based on your brief description, I believe it can be achieved with the right Timeline planning.

I can devise a plan for you and your family, so that you will pay the most minimal stamp duties for your property portfolio restructuring plan.

Before I can propose to you the most appropriate plan, I would need to find out in further details the properties that you are looking to sell and buy.

I am experienced and well-versed in private transactions. 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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