7 Answers

Hi,

Yes you could utilise all the OA funds for the purchase and also to pay for the stamp duty too if there is sufficient amount.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
0
Dear sir/mdm,

Your conveyancing lawyer will help you apply to draw the funds from CPF for the necessary payment.

Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
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Hi,

The conveyancing lawyer you engage for this purchase will assist in the drawdown of CPF OA monies towards funding the purchase price. If you are purchasing resale property, you need to prepare cash first for the stamp duties payable. If there is sufficient OA after down payment and stamp duties are paid, there is a possibility to reimburse the stamp duties amount.

Happy to assist further. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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0
Hi

After paying 5% downpayment in cash, your conveyancing lawyer will assist you to draw your CPF monies to be paid directly to the seller at completion. If you are below 55 years of age and this is your first property in Singapore, you may use all of your CPF OA to finance the deposit (except for the 5% cash portion), stamp duty and even legal fees. However the process of using CPF to pay for the stamp duty is more complex. As a SPR these are the stamp duties you will need to incur:

Buyer Stamp duty:
1st $180k of purchase price: 1%
Next $180K of purchase price: 2%
Next $640k of purchase price: 3%
The rest: 4%

Additional Buyer Stamp Duty as SPR: 5% of purchase price

If you choose to finance the buyer stamp duty and ABSD using CPF, lawyers will not have enough time to request for CPF board to withdraw your CPF monies as stamp duty needs to be paid within 2 weeks of exercising option. As such you need to finance all the stamp duty portion with cash first latest 2 weeks after exercising the option. If you decide to use CPF to finance the stamp duty portion, the lawyer will write in to CPF board for the withdrawal of your CPF OA to pay IRAS for the stamp duty. Once IRAS has received the monies from CPF, IRAS will then make a cash refund to you for the double payment of stamp duty. My service for purchasing private property is 100% free. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
Marketing Director
ERA Realty Network Pte Ltd
CEA Reg No: R061607B
Contact No: 93375051  Read More
0
Hi Sir/Madam

1. Yes you can use both of your CPF OA money to purchase private property if the property is under 2 names
For the limit it depend:
https://www.cpf.gov.sg/member/faq/home-ownership/housing-scheme/how-much-cpf-savings-can-i-use-for-my-property-purchase

The conveyancing lawyer you engage for this purchase will assist to draw the CPF OA for the necessary payment

2. Do you intend to take loan for your purchase?
If yes, Before shortlisting project/unit, I will suggest to check your in principal approval of your loan from banker.
I can connect you with reputable banker for this, free of charge and no obligation.

3. For PR 1st Property Based on $1 mill, and assuming loan is 75%
5% Cash = $50,000
20% Cash/CPF = $200,000
BSD (Cash/CPF) = $24,600
ABSD (Cash/CPF) = $50,000
Legal fee = $2,500 (estimated)
Please contact me at (65) 96608508  and I can share the breakdown for this calculation including timeline.

4. How many bedrooms are you looking at and which area you prefer?
I have current price list, promo of every projects in Singapore and will be glad to advise you

I will be glad to assist, no agent fee from private property buyer
Appreciate if you can contact me at (65) 96608508 
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More
1
Tan Pei Cheng (Pei)
Hi,
You can use CPF from OA to purchase private property ( if below 55 years old)
Do give me a call @ 97100155  for further discussion.
Pei @ERA Read More
0
Robbie Chen Chee Howe
Hi,

Yes, you're right. You will be able to utilise CPF to pay for the balance downpayment, and also the subsequent monthly mortgage installments.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
0