Wah! So cheap ah!
Wah! So cheap ah!
So TDSR is officially the most effective cooling measure
My guess is they were still fine tuning the policies and didn t figure this one out yet. I think the government was actually quite unprepared for the continued frenzied buying during that time despite numerous cooling measures. When TDSR first came out i already said its the one that s gonna take the market down. I just pity those who bought the last 1-2 years for investment purposes. Really can wait long long. lol.....
That is why property should be hold for long period. Even if you buy in 2013/2014, you rent out for 20 years, you would have made quite a lot of money. In fact, if you rent out for the past 2 years, you already cover half of your initial downpayment. Assuming you didn't buy stupidly into a 4500 psf condo. Like you buy a Clift studio, would have collected > 100k in rental.
Nice to see this thread moving again..
Keep it up BH!!
The resale mart prices for condo still holding well lei..
Dun know when will the actual drop starts...
Think need to wait for at least 1 more year ..
its real, my friend jio me to structure something to lowball the fella but we couldn't figure out how to get past the ABSD and get a loan. we even wanted to offer him an option to buyback later but i don't think he was keen. 1st time i tried partnering someone to buy but my friend has experience sharing with others (but all his purchases made before 2011's first measures). very difficult to structure anything at all with absd, ssd, tdsr. lol.
and sorry guys, ethically, i cannot post this deal here becoz its my friend's deal and he was still exploring with others after i told him i'm gonna give it a miss.
but then again, the seller may have found some way to structure a deal with someone. anyone can advise how this is done? seriously, doesn't make sense to sell, may as well default on progress payments and let the interest to developer roll. still cheaper than paying SSD of 12% off selling price. in the meantime can buy time.
Also, it is arguable if IRAS will accept 12% SSD on 1.6k psf, or will IRAS insist on 12% SSD at 2k psf or at least 1.8k psf, since this seems to be the 1st sig casualty for Duo. All in all, a really stunning transaction within less than 2 years...... Just wondering what happened to the seller? Retrenched, biz failure or going back to home country?
Ya, at first I thought i could buy under my children's name and hold in trust. But spoke with few lawyers, they said also must pay absd as parents. I think no way out liao...
cannot buy. very sianz
Wah! That is a very good deal for the DUO ... i would have bought it!
I think it is 3 bedders ... personally i think the 3 bedder has the best functional layout.
#59-01
31 MAR 15
2,691 SQFT
S$ 2,948 PSF
S$ 7,932,750
vs
#61-01
27 OCT 14
2,691 SQFT
S$ 2,699 PSF
S$ 7,263,000
keppel land raised prices?!?!?!!?!
This deal doesn't make sense at all. Why would the seller want to sell now at such a price and fork out a significant sum of cash for SSD?
If the seller is in some kind of financial difficulty in the first place, then cash should be king. Also, it is not a bank auction so there is no pressure to sell at such a low price. In addition, most buyers of DUO are still paying the progressive payments in cash as it's still too early to take a loan for investment.
I am not an expert on this but I think the name cannot be transferred without incurring SSD, regardless of the structuring. Even with water-tight documentation, the buyer is taking a big risk paying for everything when the title is ultimately not transferred. Maybe some conveyance specialist can share regarding this topic?
I am not an expert.
Many years ago did buy a semi-detached and having just sold another property, paid the seller in full.Decided not to hold as market was running up and ask the seller lawyer for power of attorney in view of a resale.Their lawyer came back with a suggestion of a properly signed blank transfer form.I agreed.
I saved on the stamp duty but on hind sight there is much risk as any claim will put obstacle on the transaction.
My lawyer also check on any other bankruptcy or competing claims.It was an estate sale ,hence such obstacle is minimal.
2 losses at the sail:
Sold 31 MAR 2015 2 MARINA BOULEVARD #XX-XX 1,798sq ft 1,992psf
Bought 4 MAY 2011 2,503psf
Sold 2 APR 2015 6 MARINA BOULEVARD #XX-XX 614sq ft 2,037psf
Bought 24 JUN 2008 2,227psf