Do I need a valuation report to use my CPF savings for property purchase if I am not taking a loan?
Yes, a valuation report is mandatory when using CPF savings for property purchase, regardless of whether you are taking a loan. This report determines the maximum amount of CPF savings you can use for your property purchase.
For HDB flats: Only HDB's valuation will be accepted, and it must be dated within three months from your application date.
For private properties: The valuation report must be:
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Conducted by a licensed valuer, which can be your bank’s valuer
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Dated within three months from your property purchase date
This information is sourced from CPF
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