How Long Will It Take For The Fund To Be In Cpf

[Durian pudding 0]

Hi,

I need the fund to be in my cpf after the sale of my unit so as i need not used the bridging loan from bank.

Does anyone know how long will it take?

Eg, if the 2nd appt is on the 10th Feb (selling my unit), what will be the date of the fund to be credited into my cpf? I heard if the buyer is taking loan from hdb, it will be even faster, is it true?

[hello88 2]

Hi,

I need the fund to be in my cpf after the sale of my unit so as i need not used the bridging loan from bank.

Does anyone know how long will it take?

Eg, if the 2nd appt is on the 10th Feb (selling my unit), what will be the date of the fund to be credited into my cpf? I heard if the buyer is taking loan from hdb, it will be even faster, is it true?

estimated about 10 days after but to play safe, I've been advised by my agent to give an allowance of about 20 days just in case the lawyer sits on it as it did happened before. If taking HDB loan then can go for contra and HDB would do swee swee and u wont have to worry about the proceeds returning back late into your CPF

Edited January 22, 2009 by hello88

[Diavonex 0]

Why don't you contra your sale with your purchase?

[hello88 2]

Why don't you contra your sale with your purchase?

if one party (either seller or buyer side) only eligible for bank loan then cant do contra

[tower 0]

It should take about 5 to 7 working days for the CPF sales proceeds unless there are hiccups by HDB or CPF Boards. For cash proceeds, HDB would issue a cash cheque in either your name or your co-seller's name. Hope this helps.

[Durian pudding 0]

It should take about 5 to 7 working days for the CPF sales proceeds unless there are hiccups by HDB or CPF Boards. For cash proceeds, HDB would issue a cash cheque in either your name or your co-seller's name. Hope this helps.

Thx....but do anyone knows how long does it takes to pay back the bank when the monies is in your cpf when you take the bridging loan?

My lawyer firm said it will take 3 weeks to do so once you know the monies is in your cpf acc....therefore, i need to pay 3 weeks interest for that amt? anyone got repay the bridging loan interest b4?

[chronograph 0]

Thx....but do anyone knows how long does it takes to pay back the bank when the monies is in your cpf when you take the bridging loan?

My lawyer firm said it will take 3 weeks to do so once you know the monies is in your cpf acc....therefore, i need to pay 3 weeks interest for that amt? anyone got repay the bridging loan interest b4?

My case, it took about 2 weeks starting from the day where my sales completed, the fund credits into CPF and from CPF to pay back the bank. Bank will only stop charging interest till the $ is received.

One tip, call up the HDB(the officer in charge of your case) to expedite once the sales completed. At times, HDB needs some pushing.