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selling private apartment questions

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Joined: Fri, 01 Jun 2007 1:38 pm

selling private apartment questions

Post by action_scripter » Fri, 01 Jun 2007 1:46 pm

Hi, we bought a place a while ago and it has not yet TOP. We are considering selling it as a subsale, but without an agent as there's no need to arrange for meeting up or site visits etc.

Can someone advise if this is correct:

1. option to purchase exchanged for 1% of agreed sale price. This is forfeited if buyer backs out. Can we bank in the cheque for 1% immediately upon signing the OTP?
2. 14 days later, 9% option exercise fee. Total 10% deposit made. Same thing, can we bank in or will this be passed on to our laywers?
3. We pay stamp duty to Singapore Land Authority. What about the new buyers, do they need to pay stamp duty as well?


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