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Hi, a family member wants to give me their property. But there is an existing loan of 800k. So can I purchase the property for $800k even though it's under market valuation? Not considering legal fees, stamp duty, etc. I've heard that Banks won't allow this. Please advise.
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1 Answer

GAN ENG JOO ONASSIS
Dear Buyer,

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Another concern is the existing CPF used by existing owners need to be pay back to CPF with interests. Owners need to pay back by cash upon selling the property to you at loan amount.

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