Asked by Anonymous
Hi gurus,
I'm intending to buy my parent's 5 room flat(joint ownership) for 450k. They are way above 55 years old. My dad currently has 100k in his RA. My mum has only 5k in her RA.
The flat still has 75k loan balance left and dad has used up 252.5k so far to pay off this current flat with 99k accrued interest while my mum hax used uo 44.25k and amounted 21.4k of accrued interest.
My parents are intending to move to a 2 room flexi on a 45 year lease which is around 85k to be fully paid off.
Do they still have any cash proceeds from this sale?
Thank you so much in advance for the replies and advise.
God bless
I'm intending to buy my parent's 5 room flat(joint ownership) for 450k. They are way above 55 years old. My dad currently has 100k in his RA. My mum has only 5k in her RA.
The flat still has 75k loan balance left and dad has used up 252.5k so far to pay off this current flat with 99k accrued interest while my mum hax used uo 44.25k and amounted 21.4k of accrued interest.
My parents are intending to move to a 2 room flexi on a 45 year lease which is around 85k to be fully paid off.
Do they still have any cash proceeds from this sale?
Thank you so much in advance for the replies and advise.
God bless
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