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Hi,

We can write in to CPF board to appeal for usage of RA funds for the next HDB purchase, citing right-sizing and retirement reasons. They may be able to some of their funds for the next house, which will make the 3-room purchase possible. Also, do you have the address and size so I can estimate the sale price and sale proceeds attainable for your current flat if we do sell? This will help us to understand the feasibility of the next move.

Hope the above clarifies. 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.

Warm Regards,

Ivan Ng Realtor
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Hi, appreciate your sharing. Best to check with MP for appeal for 3rd HDB loan if possible. Or any other loan for them to find the right size.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More

You may write in to CPF board first to appeal for your parents to be allowed to use the CPF funds that will be returned to their CPF accounts after the sale of this HDB, for the new purchase in this case. Depending on the numbers, your parents may not need to get any home loan for their purchase if CPF allows the usage of CPF funds to finance the next purchase.

I have been in the real estate business since 2009, with more than 14 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.

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Hi Sir/Mdm,

I have handled similar cases before and we will need to check whether their CPF funds that are used on the current house is sufficient for them to downgrade to a 3 room flat. We can appeal to the CPF board to allow them to use all the refund to purchase the next flat due to their age.

Please feel free to contact me so that I can do a calculation for them and assist them with the appeal if it is feasible financially.

Regards,
Nick Tan
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Susana (Buyer) Read More

Good morning,

I am having a similar case right now and had brought my clients to CPF Tampines branch to appeal last week.

Even though we requested to utilise all refunded CPF OA funds from sale into the next purchase, CPF Board replied stating that my clients can use amount in excess of Basic Retirement Sum and the final amount they can utilise for purchase can only firm up after sale.

As for HBD loan usage for third time, you need to appeal separately to HDB. Is your younger sister working at the moment?

Perhaps we can work out a financial plan for your parents first and see what are our available options before proceeding.

Best regards,

YT Tan
Property Kaki
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My Answer with regards to your Question:

We must verify if their CPF funds from the current house are enough for them to downgrade to a 3-room flat.

We can appeal to the CPF board to permit them to use the entire refund to buy the next flat considering their age.

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I am Sorry that This platform does not allow me to direct contact you.

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