Like most property transactions, timing is crucial should you choose to sell your private property for a new launch project. This is due to ABSD reasons, and not paying more fees than you should.
If you make your purchase before selling your current property, you will incur ABSD even if you sell at a later date, as your purchase will be considered your 2 properties, If you make your purchase after selling your current property, you can avoid paying ABSD as your purchase will be considered your only property. You will also then be eligible for the maximum 75% loan. Simply present a signed OTP (Option-To-Purchase) on your current property before committing to your purchase to avoid incurring ABSD.
However, do note that if your buyer did not exercise the OTP, you will still be liable to pay ABSD in the future.
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