Hi Ms. Tan,
1) The constraint of buying a private property under trust is you must pay fully in cash. You won't be able to get a loan for buying property under trust.
2) There is no real limitation when comes to selling. But because of the insolvency act, no one will buy a property under trust within the 1st 3 years.
3) Therefore it is more common to see property under the trust will only enter the market after fulfillment of 3 years. The other reason is there is seller stamp duty (SSD) imposed in the 1st 3 years, therefore not many properties will enter the market in the 1st 3 years of their purchase.
4) Estimated legal fee for setting a trust is around $8k, it will vary according to the value of the property as well.
Hope the above answer your main concerns, but if there are more query, 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.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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