Asked by Anonymous

We recently bought a resale flat this month but our CPF still got wiped off! We did opt in to keep the $20k. Not sure how the process is and if they will put the money back?🤔 Is this a HDB or CPF qn?

#HDB #CPF

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  • Jim Ng
    Jim Ng
    Level 5. Genius
    Answered on 23 Nov 2018

    Hi, I just bought my HDB flat last month with my spouse and I managed to keep the first $20k (combined total) in both of our accounts.

    1. Did you take a HDB loan or a bank loan?

    This mechanism is only applicable for HDB loans.

    1. Also, does your HDB loan cover fully the purchase price of your flat, along with all the other stamp duty and legal fees?
    1. Did you notify the HDB officer in writing during the signing of documents?
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    • Kenneth Lou
      Yeah the HDB vs Bank loan one seems like the potential issue! Let's see what the asker has to say!
      23 Nov 2018
  • Yixiong Chang
    Yixiong Chang
    Level 5. Genius
    Answered on 22 Nov 2018

    It is $20k combined between both payers (not 20k each). But If u said both of your CPF gets used completely, did u have enough cpf funds for down payment (and stamp duties and legal fees)?

    Otherwise u might want to check with HDB first to ensure the option u chose is recognised?

    Did u also takeup the HPS since u are taking loan from hdb? I can advise a more efficient way. If u would like can add me on facebook.

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  • Teo See Hwa
    Teo See Hwa, MArketing Associate at Propnex
    Level 3. Wonderkid
    Answered on 10 Dec 2018

    Did you get any advise from the property agent?

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