Asked by Audrey
We intend to sell my HDB and use the sales proceed to buy the condo. We intend to use the CPF to pay for the down payment that will be put back into our cpf a/c to finance the downpayment of the condo.
However, if we buy a condo before we sell my HDB, we will need to pay cash for the downpayment first, because we do not have much cpf in our OA after deducting the minimum sum required for holding 2 properties, which is why we will need to fork out alot of cash.
Is there any way to use the CPF money to pay for the downpayment, beside the option of selling my flat first, then buy the condo? Ie, I don't mind using cash to pay the downpayment first, but I wish to draw out the CPF after my flat is sold. Is this possible?
However, if we buy a condo before we sell my HDB, we will need to pay cash for the downpayment first, because we do not have much cpf in our OA after deducting the minimum sum required for holding 2 properties, which is why we will need to fork out alot of cash.
Is there any way to use the CPF money to pay for the downpayment, beside the option of selling my flat first, then buy the condo? Ie, I don't mind using cash to pay the downpayment first, but I wish to draw out the CPF after my flat is sold. Is this possible?
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