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After I paid the option to purchase for condo (remaining 4%).

Can i request for cpf to utillize my CPF OA and make payment for the stamp duty and legal fees? I will top up the excess in cash if required.

Reason being, my CPF has the funds available for deduction and I do not wish use cash upfront for stamp duty and legal fees.

Also, can I check when does the bank loan kicks in and when does the cpf OA get deducted of the 75% payment . Is it after the agreed completion date to pass keys?

Is the delay of payment for the stamp duty and legal fees negotiable?
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6 Answers

Hi,

It seems that you do not have an agent to assist you as there are a couple of questions all together. Anyway, you could email all these questions to your law firm and someone will reply you accordingly.

Regards
Aaron
 9730 8455 
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Dear sir/mdm,

Stamp Duty payment and legal fees payment will be arranged by your conveyancing lawyer. Usually for stamp duty payment, you will pay in cash first before being reimbursed as it takes time to withdraw funds from CPF for such payment. You may work with your law firm on this.

Bank loan kicks in immediately upon completion of the property when the property is transferred under your name, thus first loan repayment is usually after the completion of the property. For handing over of keys, it is usually done on completion date, unless there is a condition for extension to be granted to the sellers.

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Hi, appreciate your sharing. Best to double check with law firm who act for you.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More
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Hi,

1) Whether you can utilize funds from your CPF OA shall depend on the law firm.
2) In most cases, the law firm will arrange to reimburse cash used for the stamp duty and legal fees if there are sufficient funds from your OA.
3) The reimbursement process will only start upon completion of the purchase.
4) Thus you have to check with your law firm to get a confirmed answer.
5) The bank loan will kick in immediately on the completion date of the purchase.
6) You should collect your keys on the completion date unless there is a private agreement between you and the seller.
7) There is no negotiation for the payment for the stamp duty, but you may consider paying the penalty incurred for a delayed payment. You will have to check with your lawyer for the cost of the penalty.
8) You will have to speak to the law firm about their fees. We don't receive any referral fees from the lawyer.

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

Hope the above answer 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/
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------------------

"If you need more assistance with property matters:

like renting / selling, buying / or investing, I'm here to help!

WhatsApp me at >>9856 9255 or through this link.:https://wa.me/6598569255.

(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

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 :)

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