QUOTE(lai_dm @ Jun 25 2013, 10:14 AM)
to all property gurus here,
im seeking advice for how to withdraw money from EPF account 2 to settle 10% downpayment when purchase a new house.
The reason i want to withdraw from EPF is :
- i need my ready cash for other purposes, for example : renovation
- maybe 2nd house in the future
My question is :
- what document needed to apply EPF ?
- how long does it take for payment released from acc2 ?
- if the whole process late, does developer charge me interest for delay paying 10% downpayment ?
- amount of withdrawal based on 10% downpayment or more ?
so weird one so many people misunderstand.im seeking advice for how to withdraw money from EPF account 2 to settle 10% downpayment when purchase a new house.
The reason i want to withdraw from EPF is :
- i need my ready cash for other purposes, for example : renovation
- maybe 2nd house in the future
My question is :
- what document needed to apply EPF ?
- how long does it take for payment released from acc2 ?
- if the whole process late, does developer charge me interest for delay paying 10% downpayment ?
- amount of withdrawal based on 10% downpayment or more ?
document needed to apply for EPF:
- photostat full copy of a) S&P b) facilities agreement c) deed of assignment d) developer consent
- marriage cert if joint name
- original copy of all the above to be brought along
it takes 1 week MAX for usual case. usually 3-5 days will finish. longer if you are bad record.
settle developer 10% yourself first and claim back from EPF later.
it is actually 10% + 10% MAX for withdrawal into personal account.
Jun 25 2013, 02:13 PM

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