Anonymous
If I'm selling my HDB and my buyer wants to pay using CPF, how will I receive my payment? Where does the money go?
In this scenario, if I sell my fully paid-up HDB by cash (meaning there is no utilising of funds from CPFOA at all) after the MOP, and the buyer chooses to make payment via instalments using his CPF.
Would I receive the payment for in my CPF? If so, as I have not reached retirement age yet, does this mean that I cannot withdraw the money until 65 yrs old?
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Ernest Yeam Wee Leong
23 Jan 2020
Content Creator at www.youtube.com/c/JustBeingErnest
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Tze Wee
23 Jan 2020
Marketing Manager at ERA Realty Network Pte Ltd
Hi seller,
No worries, if you have previously bought your HDB house in only cash, you will receive the proceeds in cash as well. The buyer's way of financing the purchase with CPF will not affect the fact that you will get cash.
On completion date, HDB will give you a full cash amount in cheque provided no deductions or anything. Depends on case by case basis, there may be deduction from your proceeds. Please contact me at 97723007 if you need to know the details. Thank you
Tze Wee
97723007
CEA Reg no.R058547I
Marketing Manager
ERA Realty Network Pte Ltd
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Shengshi Chiam, CFA
17 Jan 2020
Personal Finance Lead at Endowus
You will receive your payment in cash if you have paid for it in cash. That's under the understandin...
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Irregardless of how the buyers pay whether is it using CPF or Cash, you will be receiving it back in the amount based on what you used.
If you pay full cash, you get it back full cash.
If you pay with CPF and cash, you will get the remaining cash after minus the CPF principal and accrued interest due to it.
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