Forced Sale & Beyond

[Reisor]

Hi, would like to ask for your take and possible course if you are faced with the following circumstances as SC.

1. Own stay (PC) but forced sale because Enbloc, Govt acquisition for Highway for eg.
2. Rented out another unit (HDB or PC) say ~3k/mth.

Situation
1. If buy another completed unit to stay, must pay ABSD 7% upfront (easily 70k + & Ouch). Probably cannot take back (unless sell remaining unit within 6 mths, is this correct?)

2. If buy another U/C unit, must pay ABSD 7% upfront. Move back to stay in other unit. When TOP, can still decide whether
- to sell and collect back ABSD paid earlier
- to forego ABSD paid earlier and continue to keep for rental.

3. Stay in other unit and do nothing. Maybe hope for CMs to be removed before making next move. (how to happen with multiple QEs one after another)

4. Any other possible scenarios?

Thanks.

[august]

see your MP...

[Reisor]

see your MP...

Haha, ESP if it's govt acquisition. Think successful case so far also because it's Tg Pagar MP.
Will there other way to hold 2 units without paying ABSD?

[mcmlxxvi]

If i rmbr correctly the Pearl Ctr manage to get 2x original compensation.

[eng81157]

Hi, would like to ask for your take and possible course if you are faced with the following circumstances as SC.

1. Own stay (PC) but forced sale because Enbloc, Govt acquisition for Highway for eg.
2. Rented out another unit (HDB or PC) say ~3k/mth.

Situation
1. If buy another completed unit to stay, must pay ABSD 7% upfront (easily 70k + & Ouch). Probably cannot take back (unless sell remaining unit within 6 mths, is this correct?)

2. If buy another U/C unit, must pay ABSD 7% upfront. Move back to stay in other unit. When TOP, can still decide whether
- to sell and collect back ABSD paid earlier
- to forego ABSD paid earlier and continue to keep for rental.

3. Stay in other unit and do nothing. Maybe hope for CMs to be removed before making next move. (how to happen with multiple QEs one after another)

4. Any other possible scenarios?

Thanks.

if your enbloc isn't completed before your purchase, won't you be regarded as owning two properties?

[Reisor]

if your enbloc isn't completed before your purchase, won't you be regarded as owning two properties?

I suppose so. That will also mean that the date of signing next U/C unit must be strategic too to avoid further ABSD.

[Reisor]

If i rmbr correctly the Pearl Ctr manage to get 2x original compensation.

Could be vying for another round of uncontested walkover.
Think elderly stateman can last beyond 2016 as it's already mid-2013.
I wish him well though, for great leadership and vision.