7 Answers

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Thank you for your question!

Please note that it will be returned to your father's CPF and retirement account only. Alternatively, you can also ask for a cheque instead. For more assistance, please call our home financial advisor at 8769 5300  .

Best regards,
PropertyGuru Team Read More

If the owner did not use CPF OA at all for the property, the owner need not refund any sale proceeds to top up the retirement account, so your mum need not do so. However for your dad, he needs to refund the CPF utilized + accrued interest for the property, and to top up the account to the full retirement sum applicable to his cohort.

I have helped various senior homeowners to sell off and transit smoothly to their next place, you can read the reviews below. Look forward to work together on the sale.

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

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Before contacting Ivan Ng, our Property Realtor, we were quite apprehensive about our Contra-deal ( concurrent resale & purchase of HDB flats) as at that time the outlook of the resale property market was quite sluggish & pessimistic. But surprisingly our property realtor, Ivan , was able to put us at ease with his professional competence, astute work experience & friendly nature . He was able to consummate our contra-deal within one month of our HDB application. Now we are convinced by his promise that (in Ivan's own words) ... "A contra-deal is where the sale & purchase transactions are done concurrently and completed on the same day. This results in a seamless transition of the funds from your sale proceeds and CPF proceeds towards your purchase price." More importantly Ivan has also managed to clinch a good deal for our contra-deal. We'll certainly recommend him to our kins & friends. Thank you very much, Ivan. We are definitely your satisfied customers!

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I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, the full cash proceeds need not be returned partially back to the RA and so your parents could just deposit the cheque into a joint bank account of their choice. I had assisted many seniors selling their HDB flats or condo units before and I would be happy to help your parents too.

Aaron Chong
 9730 8455 
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Dear sir/mdm,

If you mum has not utilised any CPF monies for this flat, there is no need to top up her RA. If this flat is financed entirely using your dad's CPF monies, then the amount of funds utilised should be returned back to his CPF inclusive accrued interest, and if required, to top up the account to full retirement sum in his RA.

Hope the above helps!

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

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1) First of all if this flat is jointly owned by both parents. The cash proceeds will be issued in terms of a cashier order bearing both parents' names after returning the utilized CPF and accrued interest in your father's CPF account.
2) The returned CPF funds from the sale of the flat will top up your father's RA (Retirement Account) if the FRS (Full Retirement Sum) is not fulfilled.
3) Any excess from the returned funds after topping up the RA will remain in the OA (Ordinary Account).
4) No changes to your mother's CPF account since she did not utilize any funds from the CPF for the flat.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK

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Dear Sir/Madam,

Hi, I am Brendan!

If your mum did not utilised any of her CPF towards the flat, she does not need to refund any amount used by her CPF. In this case, only your dad need to refund CPF amount used + accrued interest.

If you will like to know more, pls contact me at 9754 5207  .
Or Whatsapp me by clicking this link: wa.me/6597545207 which will direct you to open Whatsapp on your mobile phone.

Thank you!
Brendan Bay,
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Brendan is very responsive, efficient, and patient. He is able to understand our many needs and requirements for our next home. He translates that by filtering out properties not within our requirements and recommended only units suitable for us. We had benefited from his detailed financial analysis for us and sound recommendations.

- Max & Janice, Residential Home Sellers -

We were introduced to Brendan by our best friend, whom Brendan helped on the sale of their property. Brendan is very approachable and conducts himself professionally. With his unique marketing strategies and strong negotiation skills, we managed to sell off our property at a price beyond our expectations. Read More
Robbie Chen Chee Howe

Your parents will only need to set aside their RA from the CPF Refund from the Sale of their flat. They are free to keep any Cash proceeds from the Sale.

In your parents situation, I suppose your Mother did not contribute any CPF, hence there is no need to top up her RA. Your Father will have his CPF refunded back to his OA, and subsequently to his RA. Any balance he will be able to withdraw too.

May I know if they are planning to purchase another flat after the sale? If so, they will have to take note on the BRS requirements and CPF usage.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property 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