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My parents want to sell their flat which is fully paid already. But we are concerned how much cash can be taken out since both of them are in their 60s and I understand a certain amount will have to be transferred to their retirement account. Can anyone advise which is the amount that needs to be put in and any other commitments.

Many thanks !
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2 Answers

Mike Lim
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Good morning,

We would need to know that is the possible selling price and how much CPF, along with accrued interested, had being used. Only the CPF component will be returned to their respective accounts. As for the cash proceed, after deduction on the required payment, ie: lift upgrading, HIP, etc, it will be presented to your parents in a form of joint name cheque.

Do feel free to contact me should you require any additional assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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