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Depends on how you signed the contract and whether the next buyer is willing to help you out!
If you bought the apartment using XYZ and/or nominee, you have a chance to change the name/person at the time settlement (but not before hand). You should be able to avoid CGT as no CGT event has taken place. But note that this usually happens when the substitute person is wife/husband/child/close relative of XYZ.
If you bought it in your name and in your name only, you will not be able to 'sell' it until it settles. Because before settlement, you are not yet the owner. CGT will most likely apply, unless you sell it at the same price as you bought it.
However, there may still be some room for flexibility with the developer. If you can convince them that you've found another buyer who is willing to pay the same as you did (if not more), you can try to rescind (cancel) the contract, but the discretion is completely with the developer. |
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