BSD/ABSD payment

[o0KelviN0o]

If my current HDB completion is not done yet, I need to pay BSD & ABSD within 2 weeks of exercising to buy a condo right?

If use cheque to pay for both, my ABSD remission will come back as a cheque too? Are refunds taken from my CPF?

 

[Eighty7]

If my current HDB completion is not done yet, I need to pay BSD & ABSD within 2 weeks of exercising to buy a condo right?

If use cheque to pay for both, my ABSD remission will come back as a cheque too? Are refunds taken from my CPF?

Payment in cheque can be refunded from cpf at completion of sales

 

[Pokémon]

If my current HDB completion is not done yet, I need to pay BSD & ABSD within 2 weeks of exercising to buy a condo right?

Yes.

If use cheque to pay for both, my ABSD remission will come back as a cheque too? Are refunds taken from my CPF?

You need to inform your conveyancing lawyer that you would want to have the ABSD refunded from your CPF. However, you will also need to ensure that you have sufficient amount in your CPF for the refund, should you be using CPF for purchase of the condo as well.

 

[o0KelviN0o]

How come use cash to pay ABSD but refund from CPF? Shouldn’t they just give me back my cheque?

 

[Pokémon]

How come use cash to pay ABSD but refund from CPF? Shouldn’t they just give me back my cheque?

Yes, you are right. Sorry for the wrong info earlier on.

It should be cheque. It will be refunded to CPF, only if you have used CPF money to 'pay' for the ABSD.

You should not need to go through the conveyancing lawyer for the refund if so. You can DIY using the portal from IRAS.

 

[kiatme]

Your hdb completion you mean selling your flat?

 

[o0KelviN0o]

Your hdb completion you mean selling your flat?

yes... in process of waiting for appt date.

but heard that I should only exercise my condo option (4% payment) after HDB is completed to avoid ABSD

 

[bojangle]

recently I bought a condo and exercise my option while still waiting for HDB completion which is 3mths later.
your agent will know how to do.

 

[0limshs]

Hi i am curious to know when u sell and buy at the same time, do you need to temporary stay at another place while renovating your condo?

 

[o0KelviN0o]

ok I called IRAS & asked my mortgage specialist

because my HDB sale has already been exercised, I'm considered "no property" so I can go ahead & exercise my purchased condo w/o having to pay ABSD

 

[kiatme]

you got your in principal approval for your hdb sales liao ? if yes then can lo