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I currently stay in a 5 rm hdb and am exploring to upgrade to ec. When the hdb is sold, some money will pay off hdb outstanding loan while some pay off cpf+interest. Can use this repaid cpf+interest for the ec lumpsum repayment on top of any gain from the sale?
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7 Answers

Hi,

Yes the cpf+accrued interest will be returned to your OA after the HDB sale. Thereafter, you can use that for the downpayment for the EC. However, you will have to look at temporary housing (such as renting or staying with relatives) since you are looking to sell HDB before EC TOP. Thanks and which EC are you considering? May I understand your requirements before assisting further? Thanks and hope to discuss further.

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

The process of upgrading from a HDB to an EC takes a careful and meticulous process that includes

a) Financial calculations
b) Processes involved
c) CPF regulations
d) Housing arrangements
e) Timing of sale

I specialize in helping home owners successfully upgrade to EC since 2010. There are even some EC with almost immediate keys availability. Please call me for an non-obilgated discussion.

Cheers!

97719977
Tricia Chong
Huttons RealEstate
SENIOR DIRECTOR Read More
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Afternoon,

Depending on your age and the age of the unit that you are buying, you may or may not be able to utilized full CPF monies for the purchase.

Do contact me further for detail discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hi,

To answer your question, indeed the CPF and accrued interest will be returned to your OA after the HDB sale. It can then used for the downpayment for the EC. I am currently assisting a client of mine who is upgrading from his EA in Pasir Ris to an EC and I would similarly be glad to assist you, through the CPF regulations, purchase timeline and financial matters , at no cost.

What we can do in present moment is to work out the progressive payment and financial cash calculations to advise which ECs have a greater scope of appreciation, to maximize your interest and capital. It would be best to engage in an interactive discussion so that I can shed some insights to the EC market and offer a preliminary overview of high yield projects. This is to be followed by a price chart analysis of ECs island-wide AND compressive sales report with live sales transactions to aid your understanding. Purchase of an EC is an intricate process; not only limited to selection of units, but also primary focus on the utilization of CPF/ disbursement of funds etc. Allow me to run you through step by step on the procedural framework at no obligation! Furthermore, NO agent fees is involved! Hence, my consultation and services comes at no cost, yet your interest and welfare is protected.

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com ( Recent Awards and Testimonials)

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Johnny Goh Mui Huat
Dear Sir/Mdm,

Yes, you can use the repaid CPF+interest to pay for the initial payment for the EC.

However, do take note that if you are 55 years old and above, you have to fulfil the minimum sum and might not be able to use the full amount.

Hope that I have answered your question.

Feel free to contact me if you need my assistance.

Thanks and Regards
Johnny Goh
R018297H
Team Associate Director
OrangeTee.com Pte Ltd
Mobile: 90906267 
Email: johnny.goh@orangetee.com
Website: johnny-goh.com Read More
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Dear Sir/Mdm,

You will be able to use your CPF plus accrued interest for your next housing. However, it is important to come up with a full financial plan to determine the total cash and CPF outlay before committing to a purchase. When purchasing an EC, the purchase and sales time lines have to be carefully thought out as well.
Please contact me so that I can do up a financial plan for you and share with you more about the processes.

Nick Tan +65 9644 4854 
nicktan@propertyavenue.com.sg
B.Eng(Chemical)(NUS)(Hons)
Property Avenue Pte Ltd Read More
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GAN ENG JOO ONASSIS
Hi,

Re: EC Property

Look forward your call at 92222389  to discuss further.

Will do a estimated valuation of your existing HDB m calculation of your financial report for your next property purchase.

Onassis Gan Eng Joo - CEA Reg No.: R021244C
CES Certified SG Realtor l SGRealtor.com
agent.myweb.sg (PropertyGuru) / agent.irealtor.sg (iProperty)

SG Hotline: +65 9222 2389 
Email: Onassis@sgrealtor.com
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