hi,
The only ABSD payable would be 5%, as it applies to SPR couples.
For a bridging loan, you would first need to secure a buyer who has exercised the Option to Purchase (OTP) for your current property before the bank can approve the bridging facility.
I have assisted many HDB upgraders in similar situations, and the usual approach is to buy and sell concurrently. While I market your current unit for sale, we can simultaneously start searching for your next home.
However, the sale should ideally be secured first. You would only pay the seller the $1,000 option fee for the new property after your buyer has exercised the OTP for your existing unit.
It is also important to plan the timeline carefully. The completion of your sale should take place around two weeks before the completion of your purchase. This allows sufficient time for your CPF funds to be refunded to your account, which can then be used for the new purchase.
To ensure a smoother transition, I would also request a 3-month extension of stay from the buyer, giving you ample time to move into your new home without unnecessary pressure.
This platform does not allow me to contact you directly so kindly contact me at https://wa.me/6597261112 I would be glad to assist you further.
Thank you and best regards,
Jenny Tran
Propnex Realty Pte Ltd
(HP)
+65 97261112
(Email) jenny.tran@propnex.com
BSc (Real Estate) (Hons)-NUS
Testimonial from Satisfied Clients
-- My husband and I wish to commend the sincere attitude and good customer service rendered by your staff Jenny, who handled the sale of our 5R HDB flat early this year. We have met several agents but none as genuine as Jenny. Being a seller agent, she took our interest at heart in handling the sale, unlike other agents who are self-interest. Jenny is punctual and prompt in the whole dealings and we were convinced that such an agent is hard for find nowadays. Jenny is a trustworthy, honest, sincere and hardworking agent. We are happy with her service and would gladly recommend her to our friends in future. Jenny is an asset to Propnex and the organisation should value her. Thank you Jenny for her efforts--
Mr and Mrs Soo (HDB seller)
--Jenny is very committed and responsive to her clients and she has spent hours updating them and looking out for great deals and even tailor-made property proposal geared towards their needs. Will certainly refer her to others and will definitely approach her again in her future--
Nick and Kim (New launch buyer)
--Jenny did a great job helping my wife and I sell our unit. She took active steps to walk our neighbourhood to understand what she was marketing. During the marketing period, she managed potential buyers and provided timely updates and recommendations so we could stay on top of the process. Overall, Jenny was professional and helped us to achieve a positive result which we are very thankful for--
Aaron ( HDB seller)
--Jenny was very passionate and went the extra miles to help. Thanks to her professional advice and recommendations, I had finally found my dream home--
Yvonne (New launch buyer)
--Appreciate Jenny's clear and prompt communication style with us and other stakeholders. She was also patient and client-centered throughout the process of finding a home that met our criteria. As a first-time home buyer, we appreciate how she went out of her way to explain the process and answer questions we had--
Samantha (Resale condo buyer)
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