“Using CPF for your purchase? what are the things CPF need?”
A client asked me what are the things CPF need in order for CPF to disburse her funds to pay for Stamp Duties/lump sum 15% payment/legal fees etc.
So other then the option to purchase, sales and purchase agreement (if the purchase is a new condo) CPF will also need the following:
- Signed bank letter of Offer – Banker will pass a copy to buyer.
- Bank letter of instructions – Bank’s back end will pass a copy to law firm.
- Valuation report – Bank’s backed will pass a copy to law firm.
- Marriage certificate (if it’s a matrimonial purchase).
Propertywiki tip 101: Bank letter of offer, letter of instructions, valuation report all takes time to generate, signed and approve and send over. So its strongly recommended to do a IPA (in principle approval) early, and sign the letter of offer early too.
So you are still unsure? Do contact us if you have any further queries and we will do our best to answer it if it is not found anywhere here!