Asked by Ms. Huiyi Ho
Resale price of current 4 room HDB flat: $470K Repayment of CPF and accrued interest of 4 room HDB flat: 1 = 47K 2 = 125K CPF monies in acccounts: 1 = 40K 2 = 150K Purchase price of new 2 room BTO: $160K Owners both below 55, currently 47 years old meaning they can pay off the flat with all their CPF available right? Any minimum sum to retain? Is the percentage of the payment still to their choice? 1. Collection of keys to new BTO before selling off existing HDB Can I get the second concessionary HDB loan first then pay it off later using CPF from the refunds? Would there be any cash proceeds involved? 2. Collection of keys to new BTO after selling off existing HDB Do I get to use the refund of the CPF from the sale of my current HDB to make payment for my BTO? Which is the better way since I have enough CPF to pay off for the new flat? Can it be done without using any cash involved so to maximise the cash proceeds from the sales of the 4 room flat?
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