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Hi Edmund,

May I know are you purchasing a condo under construction or resale private property? This will determine the timeline and financial plan accordingly. Typically, you have to pay the stamp duties in cash first, which will be refunded to you if there's sufficient monies in CPF. Also, you may also like to note that we need to time both sale & purchase nicely so you can try to avoid any ABSD payable and also need not move twice. I will be glad to illustrate fully on the planning so that you have a hassle free transaction and know what to expect before committing to anything. Thanks and hope to understand your requirements and plans further so to make better recommendations and value-add to your plans further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
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(Client's Testimonials) Read More

Hi Mr Foo,

- Basic Stamp Duty of approximately 3% is payable when you purchase a property. For a 1.3mil property, the stamp duty will be $33,600.

- For Additional Buyer Stamp Duty (ABSD) of 7%, you can avoid by timing your sales and purchase carefully or if you are purchasing the condo together with your wife, you may apply for an ABSD remission. Please refer to the link for more details:

https://www.iras.gov.sg/irashome/Other-Taxes/Stamp-Duty-for-Property/Claiming-Refunds-Remissions-Reliefs/Remissions/Remission-of-ABSD-for-A-Married-Couple/

- If you are buying the condo alone, make sure you secure a buyer for your HDB flat before you exercise the option for the purchase of the condo. However, in this scenario, there may be instances where you will need a temporary place to stay while waiting for the condo to be ready. Careful planning of the timeline is required.

I have assisted many of my clients during their transition from HDB to condo. Please feel free to contact me so that I can assist you further!

Testimonial from Satisfied Clients (2015/2016)
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“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 is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer of HDB)

“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 customer a peaceful mind.”
Susana (Buyer of HDB)

“Nick from Property Avenue 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) Read More

Hi Mr Foo,

- Basic Stamp Duty of approximately 3% is payable when you purchase a property. For a 1.3mil property, the stamp duty will be $33,600.

- For Additional Buyer Stamp Duty (ABSD) of 7%, you can avoid by timing your sales and purchase carefully or if you are purchasing the condo together with your wife, you may apply for an ABSD remission. Please refer to the link for more details:

https://www.iras.gov.sg/irashome/Other-Taxes/Stamp-Duty-for-Property/Claiming-Refunds-Remissions-Reliefs/Remissions/Remission-of-ABSD-for-A-Married-Couple/

- If you are buying the condo alone, make sure you secure a buyer for your HDB flat before you exercise the option for the purchase of the condo. However, in this scenario, there may be instances where you will need a temporary place to stay while waiting for the condo to be ready. Careful planning of the timeline is required.

- Stamp Duty can be payable by CPF. But if CPF is not sufficient, you will need to pay CASH.

I have assisted many of my clients during their transition from HDB to condo. Please feel free to contact me so that I can assist you further!

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

Testimonial from Satisfied Clients (2015/2016)
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“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 is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer of HDB)

“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 customer a peaceful mind.”
Susana (Buyer of HDB)

“Nick from Property Avenue 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) Read More

Evening Edmund,

Standard buyer stamp duty can be paid using your CPF OA. Should you incur additional buyer stamp duty because you are SPR, this would have to be paid in cash.

Do contact me further should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Good evening Edmund,

Stamp duties can be paid by CPF OA funds but usually CPF board will not be able to release the funds in time to pay to IRAS thus law firm will advise you to pay in cash first. Then if you have excess CPF OA funds after 15% CPF downpayment, you can apply for reimbursement.

As for timeline wise, you can do both transactions concurrently but only commit to a purchase once your HDB buyer exercise option.

From there, you are able to obtain max 80% bank loan and wont be subject to ABSD. You lengthen the HDB sale process by requesting for temporary extension so you will have time to renovate the condo and dont have to find a temporary accommodation during the transition.

By doing this, most likely you will have to apply for bridging loan.

Hope my sharing is beneficial to your upgrading plans.

May I know how can I continue to value add in your purchase?

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 Read More

Good evening Edmund,

Stamp duties can be paid by CPF OA funds but usually CPF board will not be able to release the funds in time to pay to IRAS thus law firm will advise you to pay in cash first. Then if you have excess CPF OA funds after 15% CPF downpayment, you can apply for reimbursement.

As for timeline wise, you can do both transactions concurrently but only commit to a purchase once your HDB buyer exercise option.

From there, you are able to obtain max 80% bank loan and wont be subject to ABSD. You lengthen the HDB sale process by requesting for temporary extension so you will have time to renovate the condo and dont have to find a temporary accommodation during the transition.

By doing this, most likely you will have to apply for bridging loan.

Hope my sharing is beneficial to your upgrading plans.

May I know how can I continue to value add in your purchase?

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 Read More

Hi Edmund,

The general consideration is that once you have entered into a legal binding agreement with your buyer of your HDB (buyer exercise Option), your lawyer can actually write in to apply for waiver of ABSD. The only concern will be complications that may arise from the sale, therefore it is the safest option to dispose your HDB completely before committing to a purchase.

The transaction for resale HDB typically takes longer than a private property, therefore you may wish to look into negotiating for extension for your HDB after completion. My team of consultants have vast experience in handling such cases therefore it could benefit you to leverage on our experience gained in this aspect to work on both your sale and purchase.

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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Good day Mr Foo

Kindly contact me for a no-obligations chat for your property needs .

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

No commission chargeable when i serve property buyers .

BSD can be paid by your CPF , initially by cash and subsequently reimburse by your CPF .

No ABSD payable since you plan to sell your hdb before buying a condo .

Joanne chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More

Hi,

Re: Our Preferred SG Professional- Agent.myweb.sg & Agent.irealtor.sg

Yes, does not cause a hassle for the ABSD if you completed the transaction for the HDB.

Feel free to engage me as your agent. I can assist you based upon your stated contents and walk you through the entire process with options.

Call me now, we can explore further in detail.

I am contactable at 92222389  or onassis@sgrealtor.com / sgagent.com

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

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