AskGuru Q&A Community

Question

Condo Questions

Asked by Geraldine Wong 31 Mar 2010

Hi Expert,

My hubby and I own a 5rm HDB flat in Woodlands which is more about 8 years now. I am interested to purchase a condo with my sister while renting out this 5rm flat. Is this possible? Can I combine my sister and mine CPF to purchase the condo? How is payment of the condo being calculated?

1036 views

Upvote Upvoted

2 Answers

Previously Asked Questions

Richard Wan · Answer 1 · 2010-03-31T17:03:41+08:00

Richard Wan

Replied 31 Mar 2010

Hi Geraldine, the purchase procedure of the condo is 1% in cash, and then 4% in cash. Since 80% is in loan, the other 15% can be a combination of cash/cpf.

Yes, both of you can use your available CPF to fund this purchase.

The loan amount is based on the ages and the incomes of you and your sister.

Regards,
Richard Wan
Black Diamond Real Estate
richardwan@live.com
94363793 Read More

Upvote Upvoted

Alvin Tang · Answer 2 · 2010-04-01T18:32:59+08:00

Alvin Tang

Replied 1 Apr 2010

Hi Geraldine,

Resales, Subsales.
1% Booking fee (Cash)
4% Exercise Option (Cash)
15% Within 8 weeks from the date of Option to Purchase (Cash + CPF)
80% Bank Loan

Developer sales
5% Booking fee (Cash)
15% Within 8 weeks from the date of Option to Purchase (Cash + CPF)
Progressive payment till TOP

Please call/sms me for more detail

Regards
Alvin Tang
H/P: 8383 5277 / 9146 4333
HSR realty Read More

Upvote Upvoted

AskGuru Q&A Community

2 Answers

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

AskGuru Q&A Community

Want this question answered?

2 Answers

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours