Hi,
1) Your uncle still has the choice of choosing the 2-rm Flexi flat which some of them are located in a very convenient location.
2) I assume this 3-rm flat is a BTO, so he will be subject to a resale levy of 30k upon selling.
3) This resale levy will only be deducted from his sale proceed upon selling so don't have to worry he can't afford to pay.
4) Under normal situations, if the selling price after paying the outstanding housing loan is not enough to fully refund the CPF principal + accrued interest. He doesn't have to top up provided it is sold at market value.
But option + exercise fee received must be refunded to the CPF account before the transaction can be completed.
5) The amount (CPF principal + accrued interest) refunded from the sale of the flat will be used to meet FRS.
Thereafter, any balance will be paid to your uncle in cash.
6) As long as he is able to maintain BRS, he could use the remaining that was refunded into his CPF to purchase his short-lease-2-room Flexi flat.
Under this situation, he doesn't have to top up till FRS.
7) He may also pledge this 2-room Flexi flat to CPF so as to enjoy FRS return.
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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