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Hi Gurus, my daughter & her BF intend to buy a resale flat from open market, about $650K. their combined CPF is about $80K. Their HLE is about $45k. They want to know is how much CPF can they use for deposit & stamp duty? & how much cash is needed for other expenses ? they intend to use HDB loan.
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2 Answers

Ling CK
Replied
Hi,

Not sure whether a "zero" is missing from the amount provided.

With current figures provided, it is $120k only.
This amount is insufficient for any property purchase.

CPF can be used for 10% deposit and stamp duty.
Cash is needed mainly for miscellaneous, option fee + exercising fee. If needed an agent assistance, than you have to include 1% fee for the agent.

Hope the above answer to your main concerns, but if there are more queries, 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

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  • SG
    Replied
    Hi Guru, I had miss a zero. should be $450K. TQ
Gavin Ng
Replied
Hi

You may ask your daughter and her boyfriend to write to gavin.ng@orangetee.com. We will assist to do an estimated financial plan for their reference.

Regards

Gavin Read More
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