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Hi, my parents who are in their 70s are planning to buy a resale HDB near my brother, in cash. This means they are eligible for the $20k proximity grant. Any idea how the $20k will be disbursed to them since they are using cash for purchase. Can I assume the $20k will be deducted automatically from the purchase price, and they just need to pay the remaining in cash?
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3 Answers

Hi,

Proximity housing grant will be credited into their CPF OA accounts, and will be utilized for deduction of the purchase price of the flat. Yes you are right. HDB will request for a cashier's order for the balance of the price at completion.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

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Robbie Chen Chee Howe
Hi,

Yes, the $20k Proximity Housing Grant will be disbursed into their CPF accounts, and then used to deduct off from the purchase price.

I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your housing plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Hi
The grant will be credited to the CPF account and will be used to offset the purchased flat. In case the flat is sold in the future, the grant together with accrued interest will be refunded back to your parents CPF retirement account. Do contact me at 93375051  for a free and non obligatory consultation onr egards to properties.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
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