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Minerat

Qn On Disbursement Of Cpf Monies

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My seller is trying to bring forward the completion by 1 week. The sale of my home is scheduled to complete on 11 Jul and thereafter I will need to use the CPF monies credited back to fund my purchase, which is scheduled to complete 01 Aug. The seller is now requesting completion on 22 Jul (which has 10 calendar days from 11 Jul).

I was told by my lawyer that this is not possible because CPF monies need 5 days from 11 Jul to be credited back to my account and thereafter he needs 10 days to apply for usage of those monies for my new property.

I would like to know if this is true because it is kinda long and not to mention strange that things have to be done in sequence, ie can't they put in the application first?

Would appreciate any advice here. Thanks.

 

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Oh mine is a private property. Actually I am keen so long as the cpf monies can be disbursed on time. Just wondering why it still needs 15 working days in this day and age.

 

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