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Hi,
You can buy first and sell later. The only issue is that you still got to pay the ABSD upfront and claim it back from IRAS within 6months of your selling the current home. So, this complicates matters. Therefore, it is good to sell first and cocurrently look for a property so that the monies would come in nicely without any financial contraints.

Please contact me so that I can be of further assistance.
Cheers!

Elan Govan
MABA (Lancaster)
 90170747 
jayelan@gmail.com
www.goodpropertiesguide.com Read More

Hi,

1) A resale EC is categorized under private residential property for citizens and permanent residents.
2) When you are owning an HDB flat or a private residential property and buy a resale EC. The IRAS will count this as your 2nd residential property and subject to a 20% ABSD for citizen.
3) The IRAS shall omit the ABSD if you are able to produce an exercised OTP of your current residential property at the point of exercising the 2nd residential property.
4) Even for those married couples who are upgrading from the current residential property have to pay this ABSD upfront and apply for redemption after selling their current residential property.
5) Therefore, the only way of avoiding paying such hefty sum is to sell your current residential property before buying.

All the best!

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Hope the above answers your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

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Hi

It is possible to do concurrent sale & purchase, but the financing and timeline coordination will have to be well planned such that you are able to reduce the upfront outlay for the ABSD plus get a smooth transition.

IRAS looks at the exercise dates of the OTP documents, so once your current property OTP is exercised, you will no longer be considered to have property count. You can then go ahead to exercise the OTP of next property without ABSD, assuming you are Singaporean and do not own other residential property.

I have helped various homeowners to successfully transit and upgrade, without having to move twice. You can tap on my experience and inputs. Look forward to work together and discuss further

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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We were fortunate to have met Ivan Ng. He was thorough in going through what the complicated home-selling process required of us and more so in understanding what we would like to achieve from the sale of our unit. His responsiveness and assurance, was a trait that we really appreciate. We managed to secure a sale that exceeded our expectation with Ivan’s advises. The offered price for our unit was a record set for the flats in the neighborhood. This was definitely supported by the fact that Ivan’s listing of our unit was detailed and stood out from other listings. Because of this, we also engaged Ivan's service to help us search and buy our new resale home. After some searches and viewings, we managed to secure one at a reasonable price with his help. With Ivan’s cheery and positive demeanour, selling our unit to procuring a new one, was a smooth journey for us. It was a pleasure to have worked with him.

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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. Have a good day ahead. By the way, yes it is always advisable to sell away the existing one first before committing to the next purchase.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Sir/Mdm,

Selling first is the safer option because you will be able to avoid paying the ABSD completely. Buying first is risky because you will need to pay the ABSD first and claim back only if you are able to sell your current place within a 6 months period. This is risky in the current market condition when there are many uncertainties due to the ongoing trade war.

For your case, I would suggest doing both the sale and purchase together by we will time the sale before the purchase to avoid the ABSD. In this case, you will be able to transit smoothly from your current place to the next one without the need for an interim housing solution.

I have assisted many of my clients who are in the same situation to transit smoothly from one house to another. Please feel free to contact me so that I can understand your situation better and provide you with further assistance.

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

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Nick is THE absolute best agent, guide to navigating the property market in Singapore. From selling to buying, he manages to get the absolute highest when selling and negotiators to the absolute lowest when purchasing. (So double win for me!). In fact, I bought my new home at the absolute lowest transaction across all the transacting homes. Most agents would just give vanilla advice, he puts scrutiny into every potential choice we were making by advising potential gains, rental yields, back up plans. I think we went through a whole list of more than 20 + before narrowing down to a few high potential properties! Super responsive to our questions and handheld us through the process and even answered questions in the middle of the night. Would absolutely recommend working with Nick for anyone looking to buy, sell or just advice!
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Sunny Ng (Seller) April 2024

Selling our house was a pretty stressful ordeal, as we have already committed to buying our new home and hence have a timeline to meet. Losing a substantial deposit and worse still, not getting our dream home caused many sleepless nights as we are near Read More

Hi, goood day, I will be happy to assist, as buying and selling involve proper timeline planning and also a prudent check on your current financial status.

And ABSD may incur too. I suggest a proper meet up discussion to be safe.

Please reach out to me at 9821 6829  and we can discuss further on various options , looking forward to hear from you soon, thanks.

Cheers,
Shoan
PropNex
www.shoanproperty.com
IG/FB/TT @shoanproperty Read More

I would be glad to assist you.
Feel free to contact me at wa.me/6597100155
Hope to hear from you soon.
Pei Mobile: (65) 9 7 1 0 0 1 5 5.
Email: peicheng.tan@propnex.com
Associate Group Director
Propnex Realty Pte Ltd Read More

Avoiding ABSD upfront means to sell first, otherwise you will still need to pay and then apply for remission.

——

I have been in the real estate business since 2009, with more than 15 years 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 15,900 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.

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1. **Buying before selling is possible**, but be prepared to **pay ABSD upfront**, which you can only **reclaim from IRAS within 6 months** after selling your existing property.

2. To **avoid cash flow strain and tight deadlines**, it’s often smarter to **sell your current home first** while actively house-hunting at the same time.

3. With careful **timing and budgeting**, the entire transition can be smooth. I’m here to help **strategize every step**, ensuring confidence in both sale and purchase.

> “By failing to prepare, you are preparing to fail.” — *Benjamin Franklin*

WhatsApp me at: ABLE Toh (65) 9856-9255  or through this link.:https://wa.me/6598569255
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QUOTE OF THE DAY " In negotiations, the most important thing is not to win or lose, but to find a solution that is mutually beneficial." Read More

Hi, appreciate your sharing. Unless you are confident that your buyer will not played you out on the last min. Welcome to share with you the timeline and solution to it.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More