Aishah@Selayang: My husband and I wish to buy an apartment in joint names, and plan to pay the 3% earnest deposit in cash with the balance 7% from both our individual EPF Account 2 accounts. We were informed by EPF to submit our withdrawal application for this 7% together with the S&P and Bank Offer letter. However, our agent informs us that the S&P is usually only given after settling the full 10%. Please advise what we should do?
RED: Your agent is correct. To withdraw from EPF, you need to sign your SPA with 10% deposit paid as well as produce your bank loan offer letter. By Michael Yeoh, financing consultant
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