AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
Hi,

I currently own a 4rm HDB flat in Hougang and is keen to sell it off upon the TOP of the Executive Condo I want to purchase. However, I understand that I am to pay 5% cash & 15% CPF downpayment upon signing the option to purchase. As I have yet to sell my flat, I do not have sufficient CPF. Are there any ways which I can cover the 15% CPF?
0 •
730 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

Wee-Ling Chew
Replied
Dear Joe, if you do not have sufficient CPF to pay for 15% of the purchase price of the EC, you will have to pay it in cash. If you do not have sufficient cash on hand, then you will need to sell your HDB flat first, and stay with say your parents / relatives in the interim (if that is possible) while waiting for your EC to obtain TOP.

I am a resident Hougang realtor, please do contact me below if you have further queries.

Best Regards,

Wee-Ling Chew (R045281I)
SRI5000 - Elite Division of SLP Realty (L3009793I)

M: (65) 9851-5470 
E: weeling.chew@gmail.com Read More
0
Upvote Upvoted
  • JK
    Replied
    Hi Wee Ling,

    Thank so much for your reply. Let's say if I pay the shortfall with cash, will I get the cash back when I sell my flat. I believe that with the sale of my flat, I will have more than enough CPF to cover the 15%. It is just a matter of timing. Appreciate your advice. Thanks

    Regards,
    Joe

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions