I plan to purchase my next property before receiving the CPF refunds from the sale of my current property. How can I proceed if I do not have enough cash or CPF savings to cover the purchase?

Question

Accepted Answer

You can consider taking a bridging loan from any bank, provided that HDB and/or the bank approve the arrangement.

Important condition to note

The total amount of CPF savings withdrawn plus all loans (including the bridging loan) cannot exceed the lower of the purchase price or the valuation price of the property at the time of purchase.

After selling your existing property

Your CPF savings will be refunded to your CPF accounts. You can then use these funds to pay off the bridging loan once you have completed the legal documentation and settled any outstanding cash amount.

I plan to purchase my next property before receiving the CPF refunds from the sale of my current property. How can I proceed if I do not have enough cash or CPF savings to cover the purchase?

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