Asked by Wayne O
Q1: In the matter of HDB COV (cash over valuation), is this the amount paid to the seller in Cash separately from the sale transaction before the resale completion?
A second scenario is the MS (minimum sum) of $131,000 to be channeled back to CPF Ordinary account.
Q2: Does it mean that it is NOT required if the flat owner is below the age of 55 ?
If so, am I right to say that the owner is entitled to CASH profit made from the resale less whatever expenses such as CPF amount withdrawn, legal/stamp fees and outstanding HDB loan?
A second scenario is the MS (minimum sum) of $131,000 to be channeled back to CPF Ordinary account.
Q2: Does it mean that it is NOT required if the flat owner is below the age of 55 ?
If so, am I right to say that the owner is entitled to CASH profit made from the resale less whatever expenses such as CPF amount withdrawn, legal/stamp fees and outstanding HDB loan?
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