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What should I be aware of when buying a new launch condo while owning a HDB
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When buying a new launch condo while owning an HDB, you should be aware of the following:
1. Additional Buyer's Stamp Duty (ABSD):
- You’ll first have to pay the ABSD within 14 days of the date of purchase. However, you can apply for a remission if you sell your HDB within six months of buying the condo.
- You’ll first have to pay the ABSD within 14 days of the date of purchase. However, you can apply for a remission if you sell your HDB within six months of buying the condo.
2. Selling Your HDB:
- If the new launch condo is under development, you must sell your HDB within six months of the condo getting its Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC), whichever is earlier.
- If the new launch condo is under development, you must sell your HDB within six months of the condo getting its Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC), whichever is earlier.
These steps ensure compliance with regulations and help you manage your finances effectively. Happy home hunting!