FAQs about Selling Property in Singapore

1. Who can sell a private property in Singapore?

Any legal owner listed on the title deed can sell.
Foreigners are free to sell private properties without restrictions.

2. How long should I hold my property before selling?

To avoid Seller’s Stamp Duty (SSD), the minimum holding period for residential property is 4 years.

3. Can I sell my property while it is still tenanted?

Yes. There are several ways you can do this:
• Include a clause in your tenancy agreement that allows you to sell without tenancy and gives you the opportunity to terminate the tenancy early.
• The buyer takes over the tenancy until expiry or agrees to an early termination arrangement with the tenant.

4. Can I sell if I’m based overseas?

Yes — I can manage valuation, marketing, viewings, and paperwork with your lawyer remotely (You only need to be reachable for decisions and signatures)

A. Selling Basics

B. Financials, Fees & Taxes

5. Do I need to pay taxes when selling?

• SSD → Payable if sold within 4 years
• Income tax → Only applies if IRAS deems you a property trader (rare for normal owners)

6. How much SSD do I need to pay?

• Sell within Year 1 → 16%

• Year 2 → 12%

• Year 3 → 8%

• Year 4 → 4%

• After Year 4 → 0%

7. What fees should I expect when selling?

• Agent commission (1–2%)
• Legal fees ($2,000–$4,000)
• Outstanding loan penalties (if any)
• Optional staging / minor repair costs

8. Do I need to return my property tax rebate when selling?

No. Property tax is charged annually.
The buyer reimburses you a pro-rated amount on completion.

9. Can I sell my property below my outstanding loan (negative sale)?

Yes, but you must top up the shortfall in cash, subject to bank approval8

C. Selling Process & Requirements

10. What documents do I need before selling?

• Title deed
• Recent property tax bill
• MCST statement
• Floor plan
• Tenancy agreement (if applicable)

11. What happens during the first meeting with the agent?

A walkthrough of your unit, discussion of buyer expectations, price range, timing, and improvements to enhance appeal. No need to prepare much.

12. How do you determine the right selling price?

Based on:
• Recent transactions
• Market trends
• Unit condition and renovations
• Facing, layout, and competition in the development

13. How do you market my property?

A tailored plan including professional photos/video, online listings, targeted outreach, and coordinated viewings.

14. Do I need an agent to sell my property?

Not mandatory — but helpful for pricing, marketing reach, negotiation, and avoiding legal issues.

15. What is a typical timeline for selling a condo?

Usually 8–14 weeks, depending on financing and legal processes.

D. Buyer & Offer Management

16. How do I evaluate offers from buyers?

Check:
• Buyer’s loan eligibility (IPA)
• Cash/CPF funds
• Proposed timeline
• Any special conditions

17. What happens when I accept an offer?

The buyer pays 1% Option Fee and receives the Option to Purchase (OTP).

18. What is an Option to Purchase (OTP)?

A legal document giving the buyer exclusive right to buy your property within 14 days.

19. What if the buyer backs out after receiving the OTP?

You keep the 1% option fee.

20. When is the deal officially confirmed?

When the buyer exercises the OTP by paying the remaining 4% deposit.

E. Completion & Handover

21. What happens during completion?

Lawyers handle:
• Title transfer
• Loan redemption
• Final payment
• MCST & property tax adjustments

22. When does the buyer receive the keys?

On completion day, typically 8–12 weeks after OTP exercise.

23. What condition must the property be in at handover?

• Clean
• Fixtures included as agreed
• No major defects beyond normal wear & tear
• Tenanted units must follow tenancy terms

F. Other Common Questions

24. Do renovations add value when selling?

Selective upgrades (kitchen, bathrooms, flooring) may help,
but over-renovation rarely recovers full cost.

25. Should I renovate before selling?

Often unnecessary. Minor repairs + staging usually give better returns.

26. What is property staging and does it help?

Styling your home to make it more show-ready.
Can increase offers by 2–10%.

27. Can foreigners buy the property I’m selling?

• Condos & apartments → Yes
• Landed → Foreigners need LDAU approval (rarely granted)

28. Can I sell an under-construction (off-plan) property?

Yes — by assigning your S&P Agreement, subject to developer approval.