Asked by Anonymous
Hi, I currently have a BTO flat which I intend to sell after I make a voluntary refund to CPF for the monies used to purchase this BTO flat.
Assuming that I used a principal sum of $200,000 from my CPF OA to pay for the BTO flat & have completed making the voluntary refund of the $200,000 plus interest to CPF, does this mean that the buyer has to pay me in cash when I sell my BTO in the open market (after 5 year MOP of course)?
For example, I sell my BTO (now resale) for $330,000, does the buyer have to pay everything in cash or is he/she able to use his CPF OA? If it is the latter, kindly elaborate on how that might work since I have already completed the voluntary refund to CPF.
Deeply appreciate the kind advice from the gurus here, for my next important steps. :)
Thanks!
Assuming that I used a principal sum of $200,000 from my CPF OA to pay for the BTO flat & have completed making the voluntary refund of the $200,000 plus interest to CPF, does this mean that the buyer has to pay me in cash when I sell my BTO in the open market (after 5 year MOP of course)?
For example, I sell my BTO (now resale) for $330,000, does the buyer have to pay everything in cash or is he/she able to use his CPF OA? If it is the latter, kindly elaborate on how that might work since I have already completed the voluntary refund to CPF.
Deeply appreciate the kind advice from the gurus here, for my next important steps. :)
Thanks!
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