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Thread: Property Market Crashing or Freak Deal?

  1. #1
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    Default Property Market Crashing or Freak Deal?

    REGENT GROVE CHOA CHU KANG NORTH 7

    $380,000, SQF 1,173, 324PSF, May-11
    $800,000, SQF1,195, 670PSF, Apr-11
    $768,000, SQF1,163, 661PSF, Apr-11
    Daft, Dafter, Dafterest!!!!

  2. #2
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    Quote Originally Posted by westman
    REGENT GROVE CHOA CHU KANG NORTH 7

    $380,000, SQF 1,173, 324PSF, May-11
    $800,000, SQF1,195, 670PSF, Apr-11
    $768,000, SQF1,163, 661PSF, Apr-11
    its a freak deal and crashing together.

    the more we get together together together..

  3. #3
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    Quote Originally Posted by kingkong1984
    its a freak deal and crashing together.

    the more we get together together together..
    Wondered how it happened... anyone has encountered such freak deal before?

    Show your story here...
    Daft, Dafter, Dafterest!!!!

  4. #4
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    Quote Originally Posted by westman
    Wondered how it happened... anyone has encountered such freak deal before?

    Show your story here...
    sold to family member lah. Father and son thing. Anyway confirm nut case as they bought in at slightly above their selling price just a few years ago.

    No big deal lah.

    Maybe they want to cash out their CPF.

    hahaha.

  5. #5
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    I thought IRAS will have something to say about such transaction cos the transfer of ownership meant lower stamp fees?

  6. #6
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    They will come knocking in no time.

  7. #7
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    I am under the impression that you can transfer to kin or relative but it has to be at least the lowest professional valuation received.

  8. #8
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    No lah, just pay correct taxes. 1 dollar also can.

  9. #9
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    Quote Originally Posted by westman
    REGENT GROVE CHOA CHU KANG NORTH 7

    $380,000, SQF 1,173, 324PSF, May-11
    $800,000, SQF1,195, 670PSF, Apr-11
    $768,000, SQF1,163, 661PSF, Apr-11
    is such deal allowed in the first place?
    I know HDB even divorce case, cannot "transfer" to wife but have to sell at market price/valuation price.

  10. #10
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    So you can transfer at $1 but the tax you pay has to be based on professional valuation?

  11. #11
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    U see more of these for landed

  12. #12
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    It can be as a gift but the transfer stamp fee will be based on valuer engaged by IRAS n not your own professional valuer. If you are not happy, you can challenge him. This has happened to someone who got as a gift from the parent. So, do not waste money employing a valuer on your own. Save the $400 for a good meal with your family.
    Quote Originally Posted by kane
    So you can transfer at $1 but the tax you pay has to be based on professional valuation?

  13. #13
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    I see, anyway, the transfer amount is left pocket and right pocket for such related sale.

  14. #14
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    One saves lots of money (i.e. gives less tax to the money in terms of stamp fee). Why? Becos Stamp fee is based on the valuation price of the property. If children intends to rebuild the house from a smaller build-up 3000sqft home to a bigger home. The transferred as gift before the renovation will have a substantial saving.
    Quote Originally Posted by kane
    I see, anyway, the transfer amount is left pocket and right pocket for such related sale.

  15. #15
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    Quote Originally Posted by DC33_2008
    One saves lots of money (i.e. gives less tax to the money in terms of stamp fee). Why? Becos Stamp fee is based on the valuation price of the property. If children intends to rebuild the house from a smaller build-up 3000sqft home to a bigger home. The transferred as gift before the renovation will have a substantial saving.
    Good point, dumb to pay stamp on your own reno.

  16. #16
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    There is a common practice not to pay stamp duty. The father just WILL it to his children. Upon his dead, the children will inherite the property without stamp duty.

  17. #17
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    Inheritance tax will come someday with so many parents owning multi-millionaire properties. This is a good way of taxing the rich.
    Quote Originally Posted by TOP
    There is a common practice not to pay stamp duty. The father just WILL it to his children. Upon his dead, the children will inherite the property without stamp duty.

  18. #18
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    isn't inheritance tax abolished already?


    Quote Originally Posted by DC33_2008
    Inheritance tax will come someday with so many parents owning multi-millionaire properties. This is a good way of taxing the rich.

  19. #19

  20. #20
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    May return in different forms some day.
    Quote Originally Posted by tericia
    isn't inheritance tax abolished already?

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