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Hi, the $100k will not have any impact on your net proceeds. The net proceeds will be calculated based on the selling price of your unit. After selling your unit, if you have no outstanding loan, after deducting all the legal fees and other expenses as well as the cpf used + accrued interest, that will be your net proceeds. The net proceeds will of course be subject to resale levy if you have previously taken CPF grant or purchased a BTO before.

Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

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Landon Chew
97 39 60 40
landonchew@email.com Read More

Hi, appreciate your sharing. Selling price - loan - CPF OA with interest - legal fees - agent fees = cash proceed.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Hi Sir/Mdm,

If you are selling the current flat to purchase another flat, then you should find out how much cash and CPF you are able to get from the sale and from there, calculate the comfortable quantum that you are able to afford for the next house.

I will be happy to do up the financial plan for you so that you can get a better idea of your cash flow so that you are able to plan better. Please contact me privately so that I can obtain more information from you.

Regards,
Nick Tan
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Judy Rong (Seller) Dec 2023 Read More

Cash proceeds from the sale of property is calculated as the final selling price minusing off the total outstanding loan, CPF usage including accrued interest and any other miscellaneous fees like upgrading and etc. Read More

Hi,

The calculation of net cash proceeds is as such

Sale price
Less loan
Less cpf utilized + accrued interest
Less legal fees
Less agent success fees

Balance is sale cash proceeds

Since your 100k cash was used to redeem the bank loan previously, there isn't any bank loan to redeem when selling, hence you can "add" 100k to your net sale cash proceeds since that 100k has been used to zero the loan amount.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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-- HDB Toa Payoh 5-RM Sellers of Million-Dollar HDB, Mr. & Mrs Leong

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