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KWSP/EPF Withdrawal for Downpayment
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TSLon3Rang3r00
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Nov 29 2020, 03:44 PM, updated 5y ago
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Probably this question has been asked many times in the past but i just unable to find one without going through many post and decide to post a new question. Regarding the KWSP/EPF account 2 withdrawal, did anyone ever withdraw just to pay for the down payment? I found myself short of few thousands for the 10% down payment, and wished to know what is the process on the withdrawal?
Is it we have to pay first then wait for KWSP/EPF to deposit into our account? or We wait for the EPF money to be debit into our account then paid the remaining down payment to developer?
How long will this process take? Is it everything online now? (Sorry i'm first time buyer)
And, can withdrawal also includes like Legal Fee, Stamp duty those sort of the "Addition" on top of the doownpayment?
This post has been edited by Lon3Rang3r00: Nov 29 2020, 03:53 PM
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TSLon3Rang3r00
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Dec 3 2020, 04:35 PM
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QUOTE(liyanakahar @ Dec 1 2020, 11:40 AM) only able to withdraw from EPF account after SPA is signed and stamped, meaning you have to pay the down payment first using your cash saving. if it is subsale unit, 99.99% seller wont let you sign and stamp without paying down payment; if it is new unit, some developers will let you sign and stamp first without paying down payment and let you bring the stamped SPA go to EPF to withdraw the money to pay them later Apparently yours is how it goes, developer let me sign and stamp without paying down payment. And will give me a period of time to get the EPF Withdrawal done. I wonder if i should withdraw the full 10%? Interest rate might be good now but i wonder if i can just throw in remaining into the 90% loan i got from the bank to reduce the interest.
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