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Thread: Stamp duty for enbloc sales

  1. #1
    Join Date
    Aug 2015
    Posts
    1

    Default Stamp duty for enbloc sales

    Hi, I'm new here. Just bought a resale condo and my friend briefed me about some info on en bloc.

    I was surprised by the fact that I will be charged with SSD even if I dissent an en bloc sale which goes through within 4 yrs of my purchase date. However, to make myself feel a bit better, I saw on STB site that the minority is allow to request to block the sale provided he suffers financial loss from the en bloc sale. But it did not clarify the definition for financial loss:
    If it is calculated by SALE PRICE - PURCHASE PRICE, is SSD deducted from SALE PRICE? Is BSD and ABSD added to the PURCHASE PRICE?
    These stamp duties can add up to more than 20% of the total price

    Appreciate some one could clarify my doubts. Thanks!

  2. #2
    Join Date
    Jun 2009
    Location
    Southbank
    Posts
    9,531

    Default

    Why block when you have already bought the resale condo.

    Move forward and take it a lesson learn.

    Property is a big ticket item, any wrong move cost thousands.

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