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Hi Mr. Sam,

If you have used CPF OA to pay for the current HDB, you need to set aside Basic Retirement Sum of 93k (can be either from OA or SA to meet it) before you can use excess CPF OA for the 2nd property. This means 150k OA can be used for the 2nd property purchase.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --

I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.

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I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan. Read More

Hi Sam,

For the 2nd property, you will need to fulfil the prevailing Basic Retirement Sum of $93,000 using both OA and SA before you can use the access in OA for your 2nd property purchase. In your case, you may use the full 150k in your OA towards the property purchase. Since you have fully paid off your HDB, you are also able to get the max loan of 75% for the purchase.

Please feel free to contact me so that I can understand your intentions better and provide you with further assistance and advice.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020
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Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
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Propnex Read More

Hi Mr. Sam,

1) 2021 basic retirement sum (BRS) is $93k.
2) RA is computed first from SA, followed by OA.
3) If you had utilized CPF in the current HDB flat, you have to put aside $93k for BRS.
4) Since you have 200k in SA. You may fully utilize all OA to make the purchase.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi Sam,

If you had utlised your CPF for your HDB flat, you will need to set aside the Basic Retirement Sum (BRS), before you can utilise the balance CPF monies to pay for a second property.

Based on your scenario, you will have more than sufficient in your CPF-SA to cover for the BRS. Hence you will be able to utilise your full CPF-OA of $150k for your next property purchase.

As your HDB is also fully paid, you will be able to loan up to max 75% for the purchase. From the 25% downpayment, 5% has to be in Cash, while the balance 20% can be from your CPF.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More