AskGuru Q&A Community

Hi,

For 2nd property, only OA in excess of minimum sum can be utilized. You can't "pledge" the HDB so to utilize more, that is to meet your retirement adequacy requirements with CPF, not for property purchase.

However, please take note you will be liable for 7% ABSD as well if you are SC purchasing 2nd property. Loan-wise, 80% is possible since you have fully paid up your 5-rm. To explore options on the financing portion, may I discuss further with you over the phone so to see what is feasible? Thanks and hope to value-add further.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Hi, yes you could use the excess OA after meeting the minimum sum but pls note that your stamp duty payable for the 2nd property will be at 10%.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More

Good evening HDB owner,

Yes you are right that you can use the excess CPF OA funds after meeting the minimum sum on your second property purchase and you are not allowed to pledge your HDB for the purchase.

Do take note that you have to fulfill minimum occupation period before you are eligible to purchase a private property. You will be subject to 7% additional buyer's stamp duty if you are a Singaporean. If both of you are SPRs, you have to sell off your HDB within 6 months from condo's completion date.

Hope my explanation helps!

I will love to assist you with your property purhcase. If you still have any doubts, feel free to contact me. Cheers!

Have a great weekend ahead!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com
(W):www.propertyavenue.com.sg Read More

Hi there,

You are absolutely right about the funds utilization.
Do contact me at 96659926  for us discuss further on your requirements comprehensively to understand the crux of your requirements & expectations, to enable me to deliver a more accurate financial projection and breakdown of cash flow for your purchase after understanding your finances succinctly as well as to explore the possible options accordingly at no obligation.

Do note that it is purely non obligatory and the only objective of the discussion should be to enlighten you on the differences, work out your finances to propose which projects you may wish to consider and aide in the price charting of units in the market. There is no point obtaining wishy washy statements from everywhere. You might as well consolidate all the key information and understand the market procedure well enough before taking the step.

Should you be keen on availing my consultation and services, do note that there is no agent fees involved and I will walk you through this whole tedious process of : explanation of procedure, shortlisting, negotiation, paperwork, establishing financial projections / application of loan, sharing of market insights, providing up to date transaction caveats & price analysis of properties as well as and handling all technical and legal matters at NO cost!

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com

#1 team of ERA in Singapore, Asia Pacific International for 2014.

ERA 2015 Q1 Top Achievers (Top1%)
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group
2015 April ERA Top Achievers
2015 February ERA Top Achievers
2014 Aug/Sept/3rd quarter/Dec/ overall 2014 ERA Top Achievers Read More

Hi,
Unfortunately hdb flat is not allow to use for property pledging. You are right on the excess of min sum. For me to assist and advice more in details, please drop me an email for me to share.

I can be contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More