Property Views

[Coolkidsrock2]

Rooms in Panorama are small, cannot put study table. Developer’s agent suggested solution is to buy a unit with extra room and convert it to study room.


Units in most new projects are small.

[lee_yl]

Is buying from developer cheaper than resale?


If for own stay, fine, by all means. Otherwise, why not buy a resale which can be rented out immediately after completing the deal. Buying direct from developer is not the same as buying directly from HDB. The private developers would have priced the project to maximize their profit. So there is no guarantee buying from developer will make money.

Assume new (3bedder) condo TOP 3 years later:
36 months X $4K = $144K

$144K of rental revenue would be lost.

I know a lot of sellers are not realistic in their pricing but I believe there are bargains out there.

[sleepy]

I have a question regarding ABSD. I understand ABSD payable within 8 weeks.


If buying a yet to TOP unit, does a hdb owner need to sell hdb within 6 months to get refund for ABSD even though 2nd property not TOP?

[MrsKiasu]

sleepy:

I have a question regarding ABSD. I understand ABSD payable within 8 weeks.


If buying a yet to TOP unit, does a hdb owner need to sell hdb within 6 months to get refund for ABSD even though 2nd property not TOP?

Sleepy, if you don't have an agent yet. You can just call and check with any agent (or ask the agents at the showflat). I believe that they will be glad to help you answering your doubts. Think buyer don't need pay agent fee

[TheAnswer]

sleepy:

I have a question regarding ABSD. I understand ABSD payable within 8 weeks.


If buying a yet to TOP unit, does a hdb owner need to sell hdb within 6 months to get refund for ABSD even though 2nd property not TOP?

Usually when meet the lawyer, need to issue 3 cheques at 1 go unless u want to go to Lawyer's office again..
1 cheque for all stamp duty including ABSD
1 cheque for 15% downpayment
1 cheque for lawyer fees

I think still need to sell HDB within 6 months the moment u signed all the lawyer documents.. Double check again cos we didn't find out cos we r keeping both.. In between need to rent place to stay..

Note: must have 75K in OA and SA before remaining CPF can be ultilized.. Otherwise cannot use CPF for 15% at all.. According to mortgage VP... Latest rules..

[lee_yl]

sleepy:

I have a question regarding ABSD. I understand ABSD payable within 8 weeks.


If buying a yet to TOP unit, does a hdb owner need to sell hdb within 6 months to get refund for ABSD even though 2nd property not TOP?

You only need to sell the HDB unit within 6 months of the TOP for a yet to be completed private property to seek a refund of the ABSD. You can refer to the following link for more details.

https://www.iras.gov.sg/IRASHome/uploadedFiles/IRASHome/Other_Taxes/Stamp_Duty_ABSD_on_Purchase_of_Residential_Properties_Revised_Edition.pdf

[TheAnswer]

I thought need to sell immediately…

[sleepy]

lee_yl:

sleepy:

I have a question regarding ABSD. I understand ABSD payable within 8 weeks.


If buying a yet to TOP unit, does a hdb owner need to sell hdb within 6 months to get refund for ABSD even though 2nd property not TOP?

You only need to sell the HDB unit within 6 months of the TOP for a yet to be completed private property to seek a refund of the ABSD. You can refer to the following link for more details.

https://www.iras.gov.sg/IRASHome/uploadedFiles/IRASHome/Other_Taxes/Stamp_Duty_ABSD_on_Purchase_of_Residential_Properties_Revised_Edition.pdf

:thankyou:

I have another question. Heard from a few agents that some buyers (not sure local or overseas) don't lodge caveat because they paid all cash, no bank loan.

Is there any risk in not lodging caveat? from the buyer (owner) perspective, if buying direct from developer

[lee_yl]

sleepy:

I have another question. Heard from a few agents that some buyers (not sure local or overseas) don't lodge caveat because they paid all cash, no bank loan.

Is there any risk in not lodging caveat? from the buyer (owner) perspective, if buying direct from developer

For property purchases funded by a bank loan, the title deed is held by the bank (until the loan is fully paid), so a caveat is lodged with the SLA by a purchaser to protect his/her interests after an option to purchase is exercised or a Sales & Purchase Agreement is signed.

Lodging of caveats is usually done voluntarily by purchasers through their lawyers to protect their interest in the property. The risk addressed is to be clear who has a right in the property.

For those who fully paid up upon purchases, there is no real need to lodge caveat as they already own the title deed.

[pirated]

lee_yl:

sleepy:

I have another question. Heard from a few agents that some buyers (not sure local or overseas) don't lodge caveat because they paid all cash, no bank loan.

Is there any risk in not lodging caveat? from the buyer (owner) perspective, if buying direct from developer

For property purchases funded by a bank loan, the title deed is held by the bank (until the loan is fully paid), so a caveat is lodged with the SLA by a purchaser to protect his/her interests after an option to purchase is exercised or a Sales & Purchase Agreement is signed.

Lodging of caveats is usually done voluntarily by purchasers through their lawyers to protect their interest in the property. The risk addressed is to be clear who has a right in the property.

For those who fully paid up upon purchases, there is no real need to lodge caveat as they already own the title deed.

Lodging the caveat by new buyer is to protect the buyer in case the seller is a fraud and sell the ppty to someone else. You chope your interest in the ppty by lodging the caveat so that no one else can deal with it until you withdraw it