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Hi, my father and mother are over 55 years old. They would like to sell their current 4 rooms hdb in Woodlands and purchase a 3 rooms hdb in Sengkang. Is it possible for them to do so? But they don't have much Cpf saving as my father is self employed while my mother is a full time housewife.
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3 Answers

Hi,

Would need to have more details such as the property address & finances to illustrate the financial planning on whether it is feasible and meaningful to do so. They will be affected by minimum sum requirements but it may still be feasible. Thanks and may I have more details & your requirements so as to value-add better to housing plans?

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
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Afternoon,

Since your parents are over the age of 55, the amount of CPF utilized for the current unit, including interest, will be transferred into retirement account upon completion of sales. In order to know how much they can utilize, we will need to communicate with CPF board accordingly. We will also need to know how much loan they are eligible for on the upcoming purchase.

Do contact me further for detail discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hi,

It would be apt to derive some succint figures to work out a comprehensive financial computations to advise further. Do visit my website for my latest awards and testimonials @ www.kumarrai.com. Thanks!

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com ( Recent Awards and Testimonials)

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