The formula to calculate the cash proceeds of your Singapore property for sale is as follows:

If the Singapore residential property is sold within 4 years of holding period for OTP exercised from 14/1/2011 onwards, the SSD payable by the seller is as follows:

If sold in the 1st yr of purchase – SSD is 16% of price sold

If sold in the 2nd yr of purchase – SSD is 12% of price sold

If sold in the 3rd yr of purchase – SSD is 8% of price sold

If sold in the 4rd yr of purchase – SSD is 4% of price sold

If sold after the 4th yr of purchase – no SSD is payable
Computation of holding period is based on exercise date of purchase to exercise date of resale. If stamp duty is payable, it has to be paid within 2 weeks after exercising OTP.

Legal fees are no longer regulated for sale of Singapore properties. The seller may shop around for competitive rates or ask the salesperson to recommend a lawyer.

You should refer to the Letter of Offer (LO) issued by your banker when you first took up the housing loan. The LO usually states how much written notice you would need to give to the bank to discharge your outstanding loan. If you are still not sure, it is best that you contact your banker before you set the completion date of the sale of your Singapore property in the Option to Purchase to avoid having to pay a penalty.

You have to pay GST on the sale of your 2 storey private shophouse only if you are GST registered. The GST will be calculated based only on the portion of your 2 storey private shophouse that is approved for non-residential use. If your 2nd storey is approved for residential use only, it will not be subject to GST. You can engage a professional valuer to apportion the value of your 1st storey shop for the purpose of calculating the GST payable. It is recommended that you check with IRAS for confirmation.

It depends on when your factory was purchased and how long is the holding period. The following Seller's Stamp Duty (SSD) rates will be imposed on industrial properties and land bought and sold within 3 years of the date of purchase on or after 12/1/2013 (based on the exercise date of OTP).

Holding Period	SSD
1 year or less	15% of price sold
2 years or less	10% of price sold
3 years or less	5% of price sold

Computation of holding period is based on exercise date of purchase to exercise date of resale. If SSD is payable, it has to be paid within 2 weeks after buyer has exercised the OTP of the resale.

Based on the fact that the HDB resale flat you purchased was completed in Sept 2010, your resale application was most probably received by HDB before 30/8/2010. That means your Minimum Occupation Period (MOP) is 3 years from the effective date of resale. The different criteria for MOP are as follows:

You are required to observe a 7-day cooling-off period after you have endorsed and submitted the Resale Checklist for Sellers to HDB before you can grant an Option to Purchase to a buyer. Your salesperson is required to go though the Resale Checklist with you not more than one day before you submit the Resale Checklist to HDB.

If you are buying another HDB flat (new/resale/DBSS) and taking HDB/bank loan, your salesperson is also required to work out the following and submit them to you for endorsement and submission to HDB:

• Estimated Sale Proceeds for current flat; and
• Financial Plan for next flat purchase
  

Before you put-up your HDB flat for sale, please take note that even though your spouse is only an occupier (not an owner) of your HDB flat, your spouse must be present during the First Appointment with HDB and give consent for the sale by signing the “Spouse Consent to Resale” form & the “Acknowledgement by Spouse” form in the presence of the HDB officer, failing which the sale of your HDB flat will be rejected by HDB.

Yes, you will automatically qualify for the higher LTV limit of 80% in a bank loan for the purchase of the bigger HDB resale flat. This is because you are required by HDB to sell your existing HDB flat within 6 months of taking possession of the bigger HDB resale flat.

You will be required to provide your banker a copy of the signed undertaking to HDB committing to complete the sale of your existing HDB flat within the period stipulated in the undertaking.

The formula to calculate the cash proceeds from the sale of your HDB flat is as follows:

You should engage a lawyer immediately after your buyer has exercised the Option to Purchase. This is to enable your appointed lawyer to give immediate notice to your banker to discharge your outstanding bank loan otherwise you may have to pay interest to the bank in lieu of such notice. You have a choice to engage HDB for the conveyancing plus an outside lawyer to discharge the bank loan or have one outside lawyer to do both. If you don't know of any outside lawyer, you can ask your salesperson to recommend one lawyer to you.

You have to pay GST on the sale of your 2 storey HDB shophouse only if you are GST registered. The GST will be calculated based only on the portion of your 2 storey HDB shophouse that is approved for non-residential use. If your 2nd storey is approved for residential use only, it will not be subject to GST. You can engage a professional valuer to apportion the value of your 1st storey shop for the purpose of computing the GST payable. It is recommended that you check with IRAS for confirmation.