Mar 9 2010, 10:27 AM
QUOTE(CyberKewl @ Mar 9 2010, 09:33 AM)
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Also, i'm new at buying a property, from what I've been told, 2nd hand property purchases (i suppose its the same as new ones as well), require 10% payment for the SPA, then I have at most 3-4 months to get a bank loan. My question is can I use my EPF money to pay the 10% or must the 10% come out from my own pocket first, then EPF will pay me back (with whatever amount I withdraw from my account 2)?
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You need SPA to apply for EPF withdrawal. So you have to fork out 10% to sign SPA.Also, i'm new at buying a property, from what I've been told, 2nd hand property purchases (i suppose its the same as new ones as well), require 10% payment for the SPA, then I have at most 3-4 months to get a bank loan. My question is can I use my EPF money to pay the 10% or must the 10% come out from my own pocket first, then EPF will pay me back (with whatever amount I withdraw from my account 2)?
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It's advisable to get loan approval b4 signing SPA.
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