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Home Buying

Asked by Lynn 27 Feb 2013

My mother is planning to buy a condo and then sell her HDB flat within a year. Will she be required to maintain a minimum sum in her CPF account even if she owns a condo?

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Mike Lim · Answer 1 · 2013-02-27T10:31:09+08:00

Mike Lim

Replied 27 Feb 2013

Mornin Lynn,

Yes, at the point of purchase, she have utilized CPF for her HDB unit hence she need to maintain the minimum sum requirement. She will also be liable to ABSD as it's her second property.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
96929209
m52i@yahoo.com
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