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Answers that you need to know to be Professional Singapore Real Estate Consultant

Posted by alvintay on April 5, 2017
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Builidng under construction (BUC) – at which point will IRAS consider as SOLD

S&P Exercise whereby legal contract between developer and buyer.

BUC- when is stamp duty payable? Can you pay using cpf?

BUC Timeline

Within 14 days and is able to utilise CPF

If your buyer buys a second property, how much cash must buyer have? (Assuming with Loan)

25% Cash / 25 % CPF

For third property, 25% Cash/35% CPF

If your buyer wants to add another name to BUC property after option is issued, is it allowed?

No

Assuming that option was issued under BUC on 5 April 2017, and SNP was sent to your buyer on the 15th April 2017, when is the last day your buyer must sign the SNP?

Within 3 weeks

Resale property- at which point will IRAS consider SOLD?

Image 2Exercise option

How do you enable your buyers to change name or add name to the resale property?

Add “add/or nominees”

How do you help your buyers who want more time to sell their own properties, assuming they buy resale property?

Extend Option with maybe higher option fee like 3%

If a PR buys a landed property without LDAU approval, what will happen to the contract?

Not Valid (Consider Illegal Contract)

Can PR buy GCB with LDAU approval?

PR cannot buy GCB (1400sqm and in Good Class Bungalow Area) even with LDAU.

Private properties sellers intend to buy resale HDB. They had not taken any HDB grant before and first time buying HDB. Are they eligible for any HDB Grant?

No unless waited for 30months later than will be eligible for Grant (Even for Resale HDB)

You are selling HDB Property and your sellers intend to buy a BUC from you, at which point should you advise them to take the option of the BUC assuming the option exercised date for the HDB is 15th April 2017 and completion date is 1 August 2017?

Technically 16th April but practically after 1st Appointment – After resale approval out)

If both PRs sellers who own HDB flat more than MOP and wants to buy a resale property, can they buy?

Yes

Can PRS keep the HDB and rent after they brought the private property?

No

You have sold your sellers property A and help him buy a resale property B. He wants to move into the property B before the completion of property A, what is your solution

If no need loan (Cash Rich), no problem at all.

Alternatively, bridging Loan

Image 3

Can HDB owners before MOP buy industrial and commercial properties?

Yes

Name the circumstances that you should propose decoupling to your owners?

Qns 1) – Under Whose Name would you be buying

Qns 2) – Any ABSD ?

Qns 3) – Would you like me to share with you on decoupling and see whether you would like to take up the option?

For decoupling, must the property be fully paid?

No

Assuming that the property valuation is $2m, please advise the stamp duty payable for this decoupling (First property/clear SSD)?

$24,600 (3% of $1m – $5400)

At what point is your seller free to buy another property from you assuming he is decoupling? Let’s say today he saw a property from you that he wants to buy, and he decouple, when should you issue options?

Issue today. Decoupling usually took only 1 day

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