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Hi.

1) It is much easier for your case since both parties are family, everything can be negotiated.
2) Enhanced Contra Facility (ECF) must have 3 parties involved, you as the buyer, her parents as the buying & seller party, another flat seller.

3) Criteria of making use of ECF are as follow:
(a) No more outstanding loan of the party using ECF
(b) Both transactions must submit on the same day.
(c) If loan needed, must take an HDB loan.
(d) Only 1 party of the 3 parties is allowed to apply for such a facility.

4) ECF has the advantage of not requiring a waiting period for CPF to return to their CPF account. The refunded CPF will automatic utilized for the new purchase.
5) Take special note that legal fees and stamp duty must be paid using cash or existing CPF OA only if sufficient.
So have to check whether their current OA has sufficient funds, otherwise, be prepared to use cash for the above-mentioned payment.

6) You would have already completed the buying process at the same time as their purchase.
7) Her parent has the flexibility on when to shift in as long as you allowed.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Dear sir,

May I know if both her parents are over the age of 55? Have they already met their retirement sum in their CPF which is critical if CPF funds are utilised for the current place. If they have not, CPF funds used for the existing place will be locked in and not allowed to be used for the next purchase.

Not sure how critical the timeline you have shared is, but it could be a better option to manage the old folks by purchasing over their existing place first, and allowing them to purchase their place with the funds from sale in hand, renovate and move in before you start renovations on the current place and move in.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Deputy 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
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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