3 Answers

Ling CK
Hi,

(1) Your parents already in there 60s, implying their RA is locked and payout confirmed.
Thus there are no more changes to it.

(2) All sales proceed shall be in cash (if this is a positive sales) + CPF which will goes into OA.
All monies in OA are allowed to use to purchase property.

(3) You did not mentioned whether the current 3-rm flat is a resale or BTO, thus 2 scenario here:
(a) BTO: they will need to pay a resale levy of $30k if apply for BTO upon key collection.
(b) Resale: no resale levy occurred.

(4) Your parent residence status was not mentioned as well, if they are PR, then might icncurr upgrade levy as well.

(5) It is quite difficult to tabulate sale proceed with the information provided.
I would be glad to assist to tabulate if we can meet up with your parent to find out more info.

(6) Both plans are feasible, it dependent on the expected timeline to change, sales proceed is sufficient for them to get the flat in the expected location.

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

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D. Kumar
Hi there,

Thank you for your query!
Above and beyond everything, I believe the financial calculations are imperative in this case to even begin anything. Furthermore, you should be well informed of the RA CPF funds, subsidies and levies in involved in the sales and purchase. As we can force a rather intricate process, do contact me to be able to help in a far more effective and informative manner- where I lay out each and every procedural framework steps as well as compute cash proceeds and share a customised sales and transaction caveats report for your understanding.

Visit my website for my recent accolades, awards and testimonials@ www.kumarrai.com.

D Kumar
+65 96659926
ERA Associate Division Director

#1 team of ERA in Singapore, Asia Pacific International for 2014/5/6/7

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Ivan Ng
Hi,

The sale price less
(1) the hdb loan (if any)
(2) CPF (P+I) to be refunded
(3) conveyancing & commission fees

Will be your balance sale proceeds. It should approx 285k +/- If you have pledged your property so as to withdraw cash from CPF RA at age of 55, the amount pledged has to be refunded and taken from the 285k approx proceeds.

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 ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395
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