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Dear sir/madam,

You are unable to use CPF funds for the purchase if you are looking to purchase under your son's name for the private condo.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Hi,

1) You must be the owner of the property if you intend to make use of CPF to pay for the property.
2) When you are using CPF for the 2nd property, you have to reserve BRS (90.5k in 2021) in your CPF before using the excess.
3) You are under MOP thus not eligible to make any purchase of the private residential property.
4) So the answer is "No" to your question.

Hope the above answer to your main concerns, but if there are more query, 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/
https://www.facebook.com/Homesellerbuyer

Note:
Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly. Read More

Hi Buyer,
If you are buying under your son's name and if he is below 21 years old, it is buying under TRUST. Trust purchase has to be in COLD HARD CASH only!

If you are buying for a son above 21 years old, first, you got to clear your MOP. Then, you can buy under 99/1 ratio where your son owns 99% and you own 1%, so that you can use your CPF as well as you can reduce your ABSD payable, which is 12% for a 2nd property, to the 1% that you own.

For more details, please contact me on how you can do it.
Cheers!

Elan Govan
MABA (Lancaster)
Huttons Asia Pte Ltd
 90170747 
www.goodpropertiesguide.com Read More

Hi,

In order to utilize your CPF fund for the property, you will need to be the owner of the property. As you have not met your 5-year MOP, you will not be able to purchase another property.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require 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 in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More