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Good evening buyer,

I guess you require a legal person to advise you on that. If you are keen, I can pass you my property conveyancing manager's contact.

Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com Read More

Hi,

Once the OTP for your current place is exercised, you are no longer considered the legal owner and hence have zero property count. When you then book your next unit, it will be considered your 1st property as an SC, and hence no ABSD is payable.

Your timelines need to be timed carefully in terms of financial planning and moving out transition so to minimize costs outlay and hassle.

I'm not sure why you will have this concern that the first property completion will not go through once OTP is exercised. These cases are the exception rather than the norm. If it didn't complete, depending on case circumstances, you maybe able to sue for specific performance. Its best to seek legal advice if such event arises. Thanks and hope to value-add to your housing 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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Hi,

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

As long as your existing property transaction not completed, upon you purchase 2nd property. ABSD will be imposed and must be paid without delay. Remission process by law firm later on.

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.

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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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Good morning,

Basically, once your buyer opt to exercise the OTP, both of you are in legal binding contract to buy and sell. You are then eligible to purchase your next property without the need to pay ABSD. Should your buyer opt to back out of the S&P, you can either request for specific performance or request for the buyer to compensate on any loses that you might incur.

Do feel free to contact me should you require additional assistance.

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

Hi! Do take note it is safer to place a option fee after your buyer exercised the otp for your place. I would love to assist you in your housing needs. Feel free to reach me via 91442664  for a detailed discussion.
Tricia Tan 91442664  Read More