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I bought my HDB 7.5 years ago at $128K
I sold my HDB for $382K + COV $50K (Total $432K).
My CPF used and accrued interest is $160K.
HDB sent second appt letter say net proceeds in cheque is $192K

160 return to CPF + 192 cash = 352K only....

why? where the rest of the money goes?
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2 Answers

Mike Lim
Replied
Morning Anthony,

I would assume that your salesperson have done the necessary calculation prior to your sales. But if you DIY your own sales, you must have also used the HDB financial computation table to get your figures. Did you add in your arrears and outstanding loan, beside subtracting your CPF OA used and interest?

I believe that should clear your doubts.

Regards
Mike Lim
 96929209 
ERA Read More
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  • EL
    Replied
    Thanks Mike, I looked through all the other arrears and possibilities that you suggested... Its HDB. HDB officer made a mistake. the nets proceeds in cheque should be $266K. Luckily we detected and get confirmation of our understanding from experts here and yourself.... thank you~
Geryl Lim
Replied
Hi Anthony,

Calculation of profit and loss is not simply using the selling price minusing off the purchase price and CPF utilised.

You may wish to go to the following link http://services2.hdb.gov.sg/webapp/BB24SaleProceedCalculator/BB24SSaleProceedsCalc to recalculate your sales proceeds.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More
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  • EL
    Replied
    Mystery solved.. HDB made a mistake... the nets proceeds in cheque is $266K... calculation correct liao. $160 return CPF + $266K cash proceeds, the rest $5 deposit collected upon OTP... Thank you Geryl, the link was really helpful.

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