AskGuru Q&A Community

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, may I know when is the key collection date for the BTO flat?

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hey there! Yes, your question makes perfect sense! When it comes to making the down-payment for a new BTO flat, there are a few factors to consider, including CPF withdrawal and selling off the current house.

According to HDB policies, eligible buyers can use their CPF savings to pay for the down-payment on their new BTO flat. This means that your parents can indeed consider using their CPF funds to fund the down-payment. It's important to note that there are specific rules and limits on the amount of CPF that can be used for the down-payment.

In terms of selling off the current house to fund the purchase of the new BTO, this can certainly be a viable option. By selling their current house, your parents can generate the necessary funds to cover the remaining cost of the new BTO flat. It's worth noting that the selling process may take some time, so it's important to plan ahead and consider any potential delays or unforeseen circumstances that may arise.

To get a more comprehensive understanding of your parents' financial situation and the most suitable approach for them, it would be highly recommended for them to meet with a real estate professional. I'm able to provide in-depth calculations and advice tailored to their specific circumstances, ensuring that they make informed decisions that align with their goals.

Feel free to reach out to me at (+65) 8300 7300  to discuss your requirements and explore the best options available.

I look forward to hearing from you. :)

Cheers,
Shaun Chen
 (+65) 8300 7300 
Senior Marketing Director
ERA REALTY NETWORK PTE LTD Read More

Hi Dixie,

Congratulations to your parents for their BTO flat!

Are they able to pay the downpayment and secure a loan for their new BTO flat? If yes, they can collect the keys of the BTO flat first, as they have up to 6 months after key collection to sell their current flat.

If they require the sale proceeds from their current flat to finance for the new BTO, it is advisable for them to start the sale process way before key collection of the BTO. This is because a typical HDB transaction can take up to about 4 months, before their CPF Refund goes back into their CPF.

There is also an option for them to take up a temporary loan from HDB, to bridge the CPF refund amount. Some interest will be charged on this facility.

Timeline Planning would be crucial, as I believe they would also wish to avoid having to shift house more than once during this transition. Do contact me to discuss on which is the best step forward for your parents.

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 +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More

Hi, appreciate your sharing. Depend whether they got a place to stay and require the fund to collect key.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More

Hi Dixie,

If they have existing cash on hand for the downpayment, and looking for opinion if they should use cash or CPF, then the answer is quite straightforward that using cash will be the better option, however, not every buyer will be in the same situation financially, therefore it is not easy for us to provide any opinion. It will highly depend on the overall situation, in terms of amount of cash on hand, the amount of CPF on hand, how much cash will be required to renovate the BTO and other miscellaneous costs to be considered. Also will there by any CPF refunds into your parents account and subsequently be locked up in RA and cannot use to finance the purchase after the sale of current flat?

These are some factors you should consider.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Group Director
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
 +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

-----

Note: We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us!

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Visit and Like my facebook page at https://www.facebook.com/GerylLimSince2009/ - Aspiring To Be The Best Real Estate Agent In Singapore

Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

-----
Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More

Hi Mr. Dixie,

1) I would assume you are saying that your parents are able to fully pay off the BTO after selling the current flat in the future.
2) Actually, whether to use cash or withdraw CPF for the downpayment should depend on whether the cash is lying in the bank doing nothing except collecting interest.
3) If the cash is not actively producing higher interest compared to the interest generated from the CPF board. Then it makes sense to use cash.
4) If the cash is generating higher returns from investment then using CPF is a better choice.
5) Anyway since your parents are already past the 55 years old mark. They still can withdraw the funds from their RA or OA for the purchase as long as they are still able to maintain the BRS in the RA.
6) You may accompany your parents to visit the CPF board for further clarification.

7) The meeting appointment can be made online: https://www.cpf.gov.sg/member/faq/general-information---useful-tips/electronic-services/appointment-with-cpfb

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answers your main concerns, but if there are more queries, 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 Read More

IF you Need Further Help For Property such as Renting / Selling / Buying or Investing ,...

I am Sorry that This platform does not allow me to direct contact you.

To further assist you, please feel free to contact me via WhatsApp at 9856 9255  or through this link: https://wa.me/6598569255.

My services come with no obligations, and I'm here to help with any questions or assistance you need.

You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: +65 9856 9255  or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT ：）

“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”

XXXXX The END XXXXXXX Read More

IF you Need Further Help For Property such as Renting / Selling / Buying or Investing ,...

I am Sorry that This platform does not allow me to direct contact you.

To further assist you, please feel free to contact me via WhatsApp at 9856 9255  or through this link: https://wa.me/6598569255.

My services come with no obligations, and I'm here to help with any questions or assistance you need.

You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: +65 9856 9255  or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT ：）

“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”

XXXXX The END XXXXXXX Read More