Asked by
I have a 5 room hdb flat which is already fully paid after my dad passed away. Now we intend to buy a 5 room flat again but in different area. Let's say my house is valued at $450k and the flat that I'm interested in is $450k also, can I take some of the money from the sale of my flat for my personal use and use my cpf to pay for the balance? I have atleast $80k in my cpf for housing.

Thank you
0
662 views
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

2 Answers

YT Tan (陈永达)
Good morning!

I will further advise you by drafting out a financial plan for you. Your sales proceeds plus CPF OA funds might not be able to fund the purchase if you decide not to take up a loan since you are thinking of setting aside some of the sales proceeds.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More
0
Dear sir/madam,

I believe it is the cash flow and planning you need to address with. Selling at $450k and purchasing at $450k does not equate to zero cash involved if you factor in the miscellaneous fees involved in the buy and sell process. As proposed by my fellow professionals, it will be good to sit down and go through the financial planning in details to have a better picture of what is to be expected in the various scenarios.

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop

Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

M.O.R.E Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now!

Our next exhibition is on 2nd and 3rd August 2014. If you have missed out successful exhibition on 10th and 11th May, do not miss this opportunity again. Register your interest to attend this showcase event now! Read More
0

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Previously Asked Questions