An agent asked me this question:
A HDB client who bought their condo a few years back wished to get back the ABSD refund that they have paid, but they wish to sell off the condo (2nd matrimonial home) instead of the HDB (first matrimonial home).
“Can I sell my 2nd property and still claim back my refund?”
So just to recap the conditions for getting ABSD refund are:
- Both first and second property must be bought under a matrimonial scheme.
- There must be at least one SC involved.
- Absd must be paid first.
- First property must be sold 6 months from TOP (if the new property purchase is a BUC).
- First property must be sold 6 months from exercising OTP (if the new property purchase is a completed property).
- No purchase of a third property allowed within that period.
So the answer is : No, the client will not be able to get back ABSD refund if they sell off the 2nd property instead of the first.
You may wish to download the full PDF from IRAS here.
Propertywiki tip 101: BUC* TOP date is the date the developer serve the TOP letter to the law firm, and not the date the developer attain TOP for the entire project.
So you are still unsure? Do contact us if you have any further queries and we will do our best to answer it if it is not found anywhere here!