Must know about Buying an old leasehold property

[happylalapo]

You can use CPF savings only if the property has a remaining lease of at least 30 years.

However, you cannot just buy any old leasehold property. Another consideration is that the remaining lease must be at least enough to cover you until you reach 80 years old.

That is, if you are 35 years old, the property must have a remaining lease of at least 45 years at the point of purchase.

In join purchases, the age of the youngest owner using CPF will be use to determine the minimum lease required.

[alon]

" you cannot just buy any old leasehold property." Why its so???






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[happylalapo]

" you cannot just buy any old leasehold property." Why its so???

My reference is to using CPF to purchase.

If you are thinking of buying with cash than anything is okay.

[McMuffin]

Thanks for the explanation happylalapo