Warrior88

Withdrawal limits = 150% for purchase before < year ( forget ) Withdrawal limits = 120% this few years ( will check again ) Withdraw limits are related to the year you purchase the pty, not in terms of number of pty. If reach 55, have 1 pty, you min sum=50% (you auto join the CPF life). Only money in excess of 50% can be withdrawn as cash. There is some computation for this cash withdrawal too. If this pledge amount= A=(used cpf + accrued int), + B=existing amount in (OA+SA+CPFIS) < prevailing MS amount. This is not a combine configuation. It is 50%A and 50%B

Good point ! Base on current inflation rate, scholars work out this magic prevailing MS. In fact MS is not decided for year 2013. House can reverse mortgage,downgrade,sold to churn income for retirement. Thus, you need to pledge only 50%. This balance 50% is for for the annuity insurance(CPF Life) Top can only from OA, can go to SA or RA.

You rich tai tai. Join Therat in Mahjong la. I still working le... Oh. times up, must go home liao. Tomorrow, try to check your case again. I also want to confirm. Don't think so much, what max... chat again

Think MBT is twisting his mole hair now.

Don't think so, difference is hubby must use the bulk of his CPF, you shake leg and throw him the coin. 50% is pledge against this 1st pty, indivdual status. (I think it should be this way) But if you not enough, ask hubby to transfer to you la

You chimkology. If hubby>MS, he can use cpf. If you not enough, you cannot use unless hubby do a transfer using TOP Up scheme. So, if hubby don't want to top up, and you cannot use cpf to buy. Then you pay $1 as cash( not using cpf) for your transaction. So that when your cpf grow, you are link to the cpf for your home

No share share, each must maintain their own MS. If spouse, fall below MS, and cannot use CPF, then contribute $1 for the purchase. Wait until CPF grow can use liao. You spouse can transfer to you if his CPF is very rich, to meet your MS. Check CPF, I think for 1st time buyer, don't need MS.

Like that COV increase again, no end right ?

Final agreed price in OTP fixed. If val go up, buyer use less cash, more cpf. Buyer benefit by using less cash. If val go down, he use previous val. This point OKAY ...buyer view. For seller, cash proceeds = Final agreed price -(cpf withdraw+accrued interest) Final agreed price = val + COV Since final agreed price is fixed. Seller not affected on the cash portion If today, MBT say all COV are taxable, this story will be different. COV are not capital gain, thus are not affected.

Yes, We were at the lawyer office. Lawyer ask"So how, what % for both of you" Very sensitive question le. (Don't put me in a spot) I jokingly says"I no money, use all hers" Lawyer says, cannot, at least put $1, as a co-owner. Your general question is quite lengthy to discuss. To each individual, I had other plans of using my cpf besides home loan.

Hi therat, Wanna share my experience of my pte purchase. That time cash rich after selling hdb, "gong gong" wife says, buy condo, enjoy for 3 years la. So chiong to buy. Saw this FH apt (night viewing) 1 time only. At that time, market was around $750k~$770k. So I quote ridiculous offer $620k. Hongkees seller trun around and counter $628k... I was shock. Didn't even bring cheque book, cos I had sign otp for another apt liao, exercising the next day. So, no choice, wife drive back to take cheque. ERA then gave me stack of paper for me to sign. I told him, I must read them first. Wah... he get angry...says if don't sign no deal. (I worry must pay him comms doc) So, I call my lawyer(at night, paiseh) Lawyer says if std agreement, can sign. Wah.. agent angry liao, call seller to room. Some commotion in side, some phone calls. It was like 5 mins before they appear again. Seller steady poon pee pee, tell me he had commit to me at $628K, doesn't make a difference previous viewer offer now $630. Seller also angry why previous viewer now then offer. Actually previous viewer still downstairs. Later, I figure that the previous viewer got buyer agent same as ERA. Maybe, both of them got better comm Finally, I loss like $6000+ for OTP expiry, but gain a FH house at $480/sq ft

Wow, next time I also bring all my GF You siao siao, not scare MJ comes with his thriller gang.

Q: What are the conditions for me to use the savings in my Special Account to pay my monthly housing payments? A: From November 2003, you can use your Special Account savings for monthly housing payments, provided you meet the following conditions: Your property is bought before 1 October 2003; You are eligible to use your CPF savings to pay your monthly housing payments under the rules of the PHS/RPS/NRPS; Your Ordinary Account contribution is insufficient to meet the monthly housing payments; and The balance in your Ordinary Account has been depleted.

Pledging is not a submission, neither is this pledge amount lock. It is use to determine the amt of cpf you can use at the point of transaction. Afterwhich, you still have to follow the yearly adj amt. You cannot pledge if there is no transaction. If can, everybody pledge now liao Downpayment/mthly installment not neccessary 50/50, can be 99/1. If wife<50% MS, she can use cash $1. The rest use yours(you strong ma)can turn around 10% every mth. 20k is lock in OA, this 20k can use for home, but cannot for CPFIS. since your SA already>61.5k. Can use all until zero. Since you not interested in the additional 1%. If OA=zero, can also use SA if house bought before 1/10/2003. I can le:) for excess of 50%MS in Sa See next post.

Fated one. You get a better price the next week. So seller actually prefer walk in buyer la. Wonder whether the new ruling the agent must co broke will affect pte pty. Oh, you mention 3 person share, though only 2 ?

Strange .. I thought co broke means each party(seller/buyer) settle their own brokerage fees. Whats the current % now 2% ? Like that if buyer got agent, then 1+1, But if buyer walk in then 2% ? Is this correct ? Last time, I gungho buy w/o agent. only contact bank & lawyer.

This one not new le.

20k lock only for CPFIS. If MS=OA+SA+CPFIS>61.5K, can use for 2nd pty. I read somewhere(this one not sure) Even if OA=0, but SA+CPFIS>61.5, "CAN USE SA" If pledge against 1st pty, can use excess of 50% MS Last one. If got 2 pty, then sell 1st pty, must put back 100% MS in CPF. Dec 2012, right ?

Seller will pay their own agent. Buyer no need agent, just settle with bank and lawyer. Provided also, you don't get agent to bring you around.

MS is applicable for both ppl. There are 2 ways to do. 1. Do a MS Top up for spouse, if you have excess OA. Means you transfer your OA CPF to your spouse. 2. Downpayment don't have to be 50/50, Can even do 99/1 for downpayment. Subsequent mthly installment can be adjust in CPF online.

2nd pty Cash portion - COV,if HDB 5%downpayment Agent Comm. If use HDB loan, 50% of previous sales proceed or $25000, whichever lower CPF portion 15%downpayment stamp fees legal fees.

Hi Wiki, You want pay less cash - True Seller cash proceeds no change - True Can still use 2nd val rep before 1st appt - Assuming True Still have time - True Your qn, "1. Is revaluation a buyer's right now that I have exercised the option?" Buyer's right ? Claim Rights - legal, social, or ethical principles of freedom or entitlement, in this case you don't have Liberty rights - or privilege, in contrast, is simply a freedom or permission for the right-holder to do something, and there are no obligations on other parties to do or not do anything., this you have. Best, you resolve with seller nicely and not "DEMAND" or consider taking"LEGAL RECOURSE" Simply, Seller actually did not deviate from the original T&C.

Wish my boys can draw like that ! instead they are just good in computer

The only Singapore property that possess the resilient to reccession are the GCB. Even in 1997,2009. They stood strong and continue the ride due to Singapore land scare. Perhaps, these are the people with strong holding power too. But then again, find a buyer for such a investment is also hard to come by. By the return is really hugh