The cash you'll receive and the amount that goes back to your CPF account depends on a few factors, primarily:
* **Original purchase price of your flat**
* **Outstanding loan amount**
* **CPF used for the flat (including accrued interest)**
Here's a breakdown of how the proceeds are typically distributed:
1. **CPF Refund:**
* The CPF monies used to purchase the flat, plus the accrued interest, will be refunded to your CPF Ordinary Account (OA).
* This is not part of your profit, it's simply returning the money you used from your CPF savings.
2. **Outstanding Loan Repayment:**
* The outstanding loan amount will be paid off to the bank/HDB.
3. **Cash Proceeds:**
* The remaining amount after the CPF refund and loan repayment is the cash proceeds you'll receive.
* This includes any Cash Over Valuation (COV), which is the difference between the selling price and the valuation price. In your case, the COV is $30,000 ($330,000 - $300,000).
**Example:**
Let's say:
* Original purchase price: $250,000
* Outstanding loan: $100,000
* CPF used (including accrued interest): $120,000
Here's how the proceeds would be distributed:
* Selling price: $330,000
* CPF refund: $120,000
* Outstanding loan repayment: $100,000
* Cash proceeds: $330,000 - $120,000 - $100,000 = $110,000
**Key Points:**
* You will receive the cash proceeds (in this example, $110,000) in cash or cheque.
* The CPF refund ($120,000 in this example) will go directly back into your CPF OA.
* The exact amount you receive might vary slightly due to other fees or charges involved in the sale.
**Recommendation:**
For a more precise calculation, you can use the HDB Sale Proceeds Calculator: [https://homes.hdb.gov.sg/home/calculator/sale-proceeds](https://homes.hdb.gov.sg/home/calculator/sale-proceeds).
It's important to understand how the sale proceeds are distributed to plan your finances effectively, especially if you are planning to purchase another property.
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