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Question

Home Buying

Asked by Alicia Tan 25 Feb 2010

Hi, I am a S'porean living in a flat at Seng Kang which is valued at around 500K.

We would like to buy a ec at $800K. But we only have 120K in CPF. Our family income is 11k.

We have paid around 200k in cpf for our HDB (which was bought at 376k).

Is there a way we can make a purchase of the condo, using all of the 120K cpf as part of the 20% downpayment? And then sell the flat so as to use the cpf credited back for the condo?

Please advise. Will there be a minimum sum imposed? Because we plan to move house, not buy a second property for investment.

Thanks!

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7 Answers

Previously Asked Questions

Brandon Aw ERA · Answer 1 · 2010-02-25T10:30:31+08:00

Brandon Aw ERA

Replied 25 Feb 2010

Dear Ms. Alicia,

Please give me a call at 8233.23.23

I really have a very optimistic answer to your concerns.

Cheerz,
Brandon - ERA Marketing Director
HP: 8233.23.23
Email: aw.brandon@gmail.com Read More

Upvote Upvoted

TC Tan · Answer 2 · 2010-02-25T11:51:26+08:00

Hi Alicia,

I understand the situation you are in.
Many of my clients take advantage of a positive sales proceed from selling a HDB apt to upgrade to a pte condo.
In your case on selling your HDB apt, your sales proceed is still positive of about $110k after taking a resale price say $530k less your outstanding loan of $176k and amount back to CPF O/A with interest est $230k and other misc fee.

On the part of buying a e-condo of $800k, strictly cash would be 1% option fee + 4% option exercise fee + Stamp fee of $18,600 + other misc fees. This would add up to abt $58,600+, of which the stamp fee of $18,600 can be reimbursed from CPF O/A later. The current cpf of $120k is sufficient for the 15% only.

If you are taking bank loan for financing the purchase of EC, you cant do contra. The dealing of EC is like pte apt transaction.
The combined income of $11k monthly which I do not see any issue getting a 80% bank loan not taking consideration your credits. Better that I help get my banker friend to do up a IPA for you first.

In my opinion, you can consider to sell your HDB apt first, get the sale proceed to better finance the EC later. To complete a HDB trasaction, it is about 4.5 months compared to a pte apt which is generally about 8-12 weeks.

I would be pleased to show you more details of the financial plan for your selling and buying. Do call me 9876 5130 to discuss further.

Thanks.

TC Tan
Group Director
DWG
9876 5130
dennisweeagent@yahoo.com.sg
http://www.dennisweeagent.myweb.sg Read More

Ken Lim · Answer 3 · 2010-02-26T09:27:50+08:00

Ken Lim

Replied 26 Feb 2010

Hi Alicia,

There is no restriction on the usage of the CPF money if you are going to sell your HDB flat.

Your current scenario is just a normal buying and selling of house.

You may like to call me for a discussion at 9027-6142 / kenlim09@gmail.com

Best Regards,
Ken Lim Read More

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Able S.K Toh · Answer 4 · 2026-01-01T21:47:37+08:00

WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

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✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助，
包括出租、出售、购买或投资，
欢迎联系我。

✔✔ 房地产经纪（董事) 诗强:/ABLE TOH (65）9856-9255
WhatsApp：https://wa.me/6598569255

✔✔✔查看我的客户评价：
Able S K Toh,房地产经纪（董事) 诗强
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

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✔✔ 新加坡联系号码（ABLE TOH）/ 诗强：（65）9856-9255
✔✔ 电子邮箱：Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More

Able S.K Toh · Answer 5 · 2026-01-01T21:47:40+08:00

WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856-9255 , Property Agent (Director ) or via this link:

https://wa.me/6598569255

Unfortunately, this platform does not allow direct contact, but you can easily reach me on WhatsApp.

✔✔✔You can READ my REVIEWS here:Able S K Toh

https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

For PRIVATE HOME BUYERS

✔✔ I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge

✔✔ Most PRIVATE seller agents are willing to share commission with buyer agents

DEVELOPER SALES TEAM

✔✔ BEST PRICES ✔✔ NO AGENT FEES

✔✔ LOWEST PRICE GUARANTEED

For UPDATED INFO, E BROCHURE, FLOOR PLAN, and PRICE LIST for New Launches Condominium in Singapore, contact me directly.

✔✔ Connect Singapore Line (ABLE TOH): (65) 9856-9255 , Property Agent (Director )

✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助，
包括出租、出售、购买或投资，
欢迎联系我。

✔✔ 房地产经纪（董事) 诗强:/ABLE TOH (65）9856-9255
WhatsApp：https://wa.me/6598569255

✔✔✔查看我的客户评价：
Able S K Toh,房地产经纪（董事) 诗强
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
✔✔ 协助转售及新私人住宅
✔✔ 买家无需中介费

发展商销售团队
✔✔ 最优惠价格
✔✔ 无中介费
✔✔ 保证最低价

新推出私人公寓资料、电子手册、户型图及价格表，
欢迎随时联系。

✔✔ 新加坡联系号码（ABLE TOH）/ 诗强：（65）9856-9255
✔✔ 电子邮箱：Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More

Able S.K Toh · Answer 6 · 2026-01-01T21:47:42+08:00

WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856-9255 , Property Agent (Director ) or via this link:

https://wa.me/6598569255

Unfortunately, this platform does not allow direct contact, but you can easily reach me on WhatsApp.

✔✔✔You can READ my REVIEWS here:Able S K Toh

https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

For PRIVATE HOME BUYERS

✔✔ I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge

✔✔ Most PRIVATE seller agents are willing to share commission with buyer agents

DEVELOPER SALES TEAM

✔✔ BEST PRICES ✔✔ NO AGENT FEES

✔✔ LOWEST PRICE GUARANTEED

For UPDATED INFO, E BROCHURE, FLOOR PLAN, and PRICE LIST for New Launches Condominium in Singapore, contact me directly.

✔✔ Connect Singapore Line (ABLE TOH): (65) 9856-9255 , Property Agent (Director )

✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助，
包括出租、出售、购买或投资，
欢迎联系我。

✔✔ 房地产经纪（董事) 诗强:/ABLE TOH (65）9856-9255
WhatsApp：https://wa.me/6598569255

✔✔✔查看我的客户评价：
Able S K Toh,房地产经纪（董事) 诗强
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
✔✔ 协助转售及新私人住宅
✔✔ 买家无需中介费

发展商销售团队
✔✔ 最优惠价格
✔✔ 无中介费
✔✔ 保证最低价

新推出私人公寓资料、电子手册、户型图及价格表，
欢迎随时联系。

✔✔ 新加坡联系号码（ABLE TOH）/ 诗强：（65）9856-9255
✔✔ 电子邮箱：Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More

Able S.K Toh · Answer 7 · 2026-01-01T21:47:45+08:00

WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856-9255 , Property Agent (Director ) or via this link:

https://wa.me/6598569255

Unfortunately, this platform does not allow direct contact, but you can easily reach me on WhatsApp.

✔✔✔You can READ my REVIEWS here:Able S K Toh

https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

For PRIVATE HOME BUYERS

✔✔ I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge

✔✔ Most PRIVATE seller agents are willing to share commission with buyer agents

DEVELOPER SALES TEAM

✔✔ BEST PRICES ✔✔ NO AGENT FEES

✔✔ LOWEST PRICE GUARANTEED

For UPDATED INFO, E BROCHURE, FLOOR PLAN, and PRICE LIST for New Launches Condominium in Singapore, contact me directly.

✔✔ Connect Singapore Line (ABLE TOH): (65) 9856-9255 , Property Agent (Director )

✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助，
包括出租、出售、购买或投资，
欢迎联系我。

✔✔ 房地产经纪（董事) 诗强:/ABLE TOH (65）9856-9255
WhatsApp：https://wa.me/6598569255

✔✔✔查看我的客户评价：
Able S K Toh,房地产经纪（董事) 诗强
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
✔✔ 协助转售及新私人住宅
✔✔ 买家无需中介费

发展商销售团队
✔✔ 最优惠价格
✔✔ 无中介费
✔✔ 保证最低价

新推出私人公寓资料、电子手册、户型图及价格表，
欢迎随时联系。

✔✔ 新加坡联系号码（ABLE TOH）/ 诗强：（65）9856-9255
✔✔ 电子邮箱：Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More

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