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Hi Sir,

You will need to set aside the Half Minimum Sum in your OA+SA, before you can utilise the remaining CPF funds in your OA for your second property.

Also, do take note that there will be ABSD incurred if you were to purchase a second property.

However, you may be able to save on this ABSD, which will work out to be quite a sum. You may wish to explore all options before you commit to anything.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Good evening investors,

Do take note that you have to set aside basic retirement sum of $83k in your OA + SA first before you can use the excess OA funds in your purchase.

On top of that you will have to pay 7% additional buyer's stamp duty for second property ownership as well.

Thus upfront downpayment will be around 30% of it (20% downpayment + 10% stamp duties). All will have to be in cash cause you dont have excess CPF OA funds for usage.

Unless you have substantial cash if not fulfill your ambition of owning an investment property might be tough.

But fear not, My team and I have assisted numerous clients in enhancing and grow their property portfolio.

Do let me share with you on one of clients that I am helping them to upgrade or grow their property portfolio.

They will be selling their 4rm flat (havent fully paid) and intend to purchase an unit for own stay and the other for investment after a few rounds of detailed financial planning.

You might not believe. This plan will be funded entirely by their sale and they wont be coming out with any amount from their savings. They would have reserved funds up to 4 years to finance their homes even if they dont work.

I would or would not say this will be possible for you as well but with detailed financial planning, you will have a clearer picture what is feasible for you.

May I know when is a good time to meet up?

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

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Dear Sir,

For your case, you would not be able to use any CPF funds from both you and your wife accounts as individually you both will need to satisfy the basic retirement sum of $83,000 first before you can use the excess from your OA account to fund your 2nd property.

Please feel free to contact me so that I can help you examine your financial position and also share with you some options which have got great upside potential.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

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