Asked by Mr. Hairudin Yusof
Hi,
Reference from CPF Facebook that stated
"if the sale proceeds after paying off any outstanding mortgage are lower than the sum of principal amount and accrued interest, you will not be required to top up the shortfall as long as the property is sold at or above current market value." How will the sellers know if they are selling at current market value and above as current HDB valuation will be submitted after OTP and only release to the buyers. Appreciate your assistance. Thank you.
Reference from CPF Facebook that stated
"if the sale proceeds after paying off any outstanding mortgage are lower than the sum of principal amount and accrued interest, you will not be required to top up the shortfall as long as the property is sold at or above current market value." How will the sellers know if they are selling at current market value and above as current HDB valuation will be submitted after OTP and only release to the buyers. Appreciate your assistance. Thank you.
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