Asked by Dee-Ez
Hi, we're thinking of selling our 5 room flat. However, we're still waiting for the valuation rpt to be issued. We're now also in search of finding a nice spacious condo ( within our means, of course) in the east area. Our question is actually when we find a buyer for our HDB, understand the final sale proceed we will receive is netted off against outstanding debt and CPF refund + accrued interest? Can this CPF Amt be used to immediately fund the purchase of the condo ( if we were to find a condo we want to buy at the time of the selling transaction) without it being refunded back to the CPF acct? If not, can the bank provide us with a bridging loan so we'll be able to pay our exercise option while waiting to receive the final net sale proceed? Grateful for any advice. Thanks!
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