LEE asked 7 years ago
Hi KC Lau…
I was just wondering if there’s any articles or blog that i could refer to when selling a property. I tried searching the past articles and blogs but can’t find any.
It is my first time and I wonder what are the expenses to expect. Since the market is bad and its getting challenging to cope with the monthly instalment, I’m prepare to sell off the property as long as I could cut some losses and get some relief from the monthly instalment.
If I were to sell the property lower than the purchase price, will the RPGT is applicable?
Appreciate your guidance and sharing, if any. Thanks.
KCLau Staff answered 7 years ago
If you don’t make a gain from your property, there will be no RPGT.
The cost involved in selling:
– broker’s commission (negotiatable)
– legal fee
Some sellers want to save legal fee by not engaging their own lawyer but use the same lawyer of the buyer. But bear in mind that the lawyer engaged by buyer represents the buyer. So to safeguard your interest, you do need your own lawyer too.