Advertisement

Buying a Property with cash from EPF Account 2

314 Views  ⚫  Asked 2 Years Ago
asked on Mar 20, 2019 at 22:42
by  
edited on Mar 27, 2019 at 20:18
 
I am looking into investing a sub-sale low cost apartment with my EPF Account 2 in cash. I have read and understand some of the terms and conditions in regards to the application for withdrawal and the documents  for buying a property. Having said that, these are my criteria at the point of application:
1) age 48+
2) first time buyer
3) no prior housing loan
4) no prior EPF housing withdrawal or any other withdrawal before
5) no land /other property in my name

My question is: 
1) Can I make a full withdrawal from Account 2 to settle the balance of payment to the owner? 

For eg: 
I make a down payment/deposit of 10%($7500) of the property purchase price-($75,000). Balance of $70,000 pay by EPF Account 2. 

Can I do so? 

Please advise. Thanks.
0 had this question
Me Too
0 favorites
Favorite
[ share ]
1 Answers

answered on May 15, 2019 at 17:56
by  
Yes,  you can. Just ensure your account has that amount to be withdrawn. 
1 found this helpful
Helpful


You must log in to answer this question.

Not the answer you're looking for? Browse other questions by category or search to find answers.