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My 3 room flat is fully paid. BTO flat coming soon. Like to ask, if selling price of existing flat is higher than the BTO flat, will I get any refund.

Example:-
Net amt used + accrued = 335k
BTO = 303k
Existing flat sold = 340k
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7 Answers

Afternoon,

If your unit is sold for $340k and your current unit have to return $335k worth of CPF funds, you should have around gross of $5k return. For your BTO unit, you would have placed the required down payment. The available CPF funds is more than your purchase price hence you should have surplus funds in your CPF account after settling both the sales and purchase.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hi,

Is your current 3rm a flat you got subsidy for? If so, resale levy is payable as well. Based on the figures mentioned, there may be some cash proceeds but it will not be much. Will need more details to make better recommendations.

May I understand your plans further so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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SMU BBM (Finance), Magna Cum Laude

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Hi,

Its not about refund, is how much cash process you might be expecting from your sale of your 3 rooms flat.
Base on your details shown, basically your CPF plus accured interests alone is already sufficient to cover your new flats, just that the amount you are looking to sell, must be higher than what you can get back from your CPF plus accured interests, and that will be your cash process, excluding agent commission.
Anything not sure, just give me a ring anytime.

Regards,
Sim Lenghua
 9853 2365  Read More
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Hi Sir/Mdm,

Your sales proceed from the sale of your existing flat can be calculated using the SELLING PRICE - CPF plus ACCRUED INTEREST.

As for your BTO, if you are taking a HDB loan, 50% of your sales proceed in cash will go towards the new flat. Can I have more information so that I can draft a full financial plan for you?

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
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(W) www.nick-tan.com

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YT Tan (陈永达)
Good morning seller,

To find out how much will your sales proceeds be, it will be sales proceeds minus off your CPF OA funds utilised plus accrued interest.

In this case, it could be $340k - $335k = $5k.

If your current flat is purchased directly from HDB or resale flat purchased with housing grant, you will be subject to resale levy because you are enjoying another subsidised flat (BTO) so do take note of it.

If you want to pay your BTO in full by CPF OA funds, you will have enough.

In your case, $335k CPF OA funds is enough for $303k BTO.

Perhaps you can share more information with me so I can do a detailed financial calculation for you. As of now, it's all based on estimation.

Hope to hear from you soon!

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Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

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GAN ENG JOO ONASSIS
Hi,

Just sharing, as BTO flat. It will be best to refer to median of the HDB transaction and valuation as base price in selling the 3RM HDB.

For the present weak market, you need to be motivated seller to have a median selling price vs other competitor units for sale.

I am contactable at 92222389  or onassis@sgrealtor.com / sgagent.com

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

EXPERIENCED. PROACTIVE. SINCERITY. FEEDBACK
ACTA (Full); PDCE (Singapore); MSc BIT(Middlesex); BBA (South Australia)

Singapore Line : (+65) 92222389 
Malaysia Line: (+60) 111-0788889
Email: onassis@sgrealtor.com / sgagent.com
Skype: incomecare

Our Clients' Success Is Our Success
“Clients’ always at ease putting their properties with us” Read More
0
GAN ENG JOO ONASSIS
Hi,

Just sharing, as BTO flat. It will be best to refer to median of the HDB transaction and valuation as base price in selling the 3RM HDB.

For the present weak market, you need to be motivated seller to have a median selling price vs other competitor units for sale.

I am contactable at 92222389  or onassis@sgrealtor.com / sgagent.com

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

EXPERIENCED. PROACTIVE. SINCERITY. FEEDBACK
ACTA (Full); PDCE (Singapore); MSc BIT(Middlesex); BBA (South Australia)

Singapore Line : (+65) 92222389 
Malaysia Line: (+60) 111-0788889
Email: onassis@sgrealtor.com / sgagent.com
Skype: incomecare

Our Clients' Success Is Our Success
“Clients’ always at ease putting their properties with us” Read More
0

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