If you buy a new condo and pay the stamp duties in cash first and wishes to get a reimbursement later, how long does CPF takes to reimburse you?
“How long does CPF takes to reimburse you?”
Well the ans is simple, 2 weeks from the the day the law firm calls for the release of CPF funds.
The documents needed by CPF for the withdrawal are : Letter of offer, Letter of instructions and Valuation report.
In case if client are only taking up a loan later, this will be treated like a cash purchase, there will be no Letter of offer and Letter of instructions as the bank is absent at this point of time.
CPF may still require the buyer to appoint a valuer and submit a copy of valuation report before giving approval for the CPF refund.