There are some terms and condition on getting ABSB reimbursed back via cash/CPF, however this is a tricky one and it doesn’t come without some criterias that we have to stick to.
This “perk” is actually aimed at home upgraders who are not just cash rich, but also didn’t like to entertain the idea of selling their current property and renting elsewhere while waiting for their upcoming new launch.
That being said this have to be their matrimonial home, so in which the current place would have to be under the respective husband and wife’s name, and the next property that they’re going to get the ABSD reimbursement from would be their name as well; also known as joint purchase.
The other more challenging part would be having to dispose their current property within 6 months of TOP. So I usually would advise clients to start marketing early (around 1/2 months early), to keep a look out and to see if any arrangements could be make, with this criteria being quite strict, it is advisable to dispose (or sell) the property ASAP upon TOP, to not face any hiccups in getting back your ABSD.
That being said the ABSD varies from different nationality, from 17% to 25-%, on the higher side, it’s as good as a down payment for a property itself. So one might want to make sure that the stars are align so we could guarantee the reimbursement.