Asked by Mr. Pau Susilo Lukman
Dear Property Experts,
Currently, I am applying BTO unit and to be ready in 2Q 2015.
My current flat is bought from open market and I was taking bank loan to pay the loan installment. Now I have paid up all my loan (with CPF and cash) / Fully Redeemed my house loan from Bank.
Could you assist me on the following questions:
1. When I sell my existing flat, am I obligated to "50% Of Cash Proceeds" rule?
2. When I sell my existing flat, who is obligated to pay the commission Seller or Buyer?
3. I am taking loan from HDB to pay for my new BTO flat. In my context, I will sell my existing flat only after my HDB loan arrangement is settled.
When I sell my existing flat, will the CPF amount component go back to my CPF ordinary account or it will automatically used to pay my HDB loan for my new BTO Flat?
For your advise please.
Currently, I am applying BTO unit and to be ready in 2Q 2015.
My current flat is bought from open market and I was taking bank loan to pay the loan installment. Now I have paid up all my loan (with CPF and cash) / Fully Redeemed my house loan from Bank.
Could you assist me on the following questions:
1. When I sell my existing flat, am I obligated to "50% Of Cash Proceeds" rule?
2. When I sell my existing flat, who is obligated to pay the commission Seller or Buyer?
3. I am taking loan from HDB to pay for my new BTO flat. In my context, I will sell my existing flat only after my HDB loan arrangement is settled.
When I sell my existing flat, will the CPF amount component go back to my CPF ordinary account or it will automatically used to pay my HDB loan for my new BTO Flat?
For your advise please.
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