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Hi,

I assume your MOP of 5 years are met for the current 4-room. Based on the info shared, the estimated sale cash proceeds is approximately $144k. (580k - 203k - 220k - 13k) , Sale price less outstanding loan less total cpf refund + accrued interest less legal fees and agent success fee + gst.

Adding back the above funds made available
Cash available 144k
Cpf OA available 220k + 40k
HLE loan available 220k

So your max 5-room price should be approx 600k. I have transacted various HDB properties and would be happy to share the best approach on how best to achieve a smooth transition and ideal price outcomes for you and family.

May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

SEAA Salesperson Achievement Award 2021 (Gold)
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Hi,

1) In order not to further confuse you. I will do a direct approach to your question.
2) With the info provided. The tabulation shall be as follow:
(a) Cash proceed = $152,000 + $5,000 (deposit from the buyer)
(b) CPF (bal + returned) = $40,000 + $220,000 = $260,000

3) For your purchase with approved HLE is $220,000
4) Thus at first glace, total funds you have on hand for your next purchase are: $157,000 + $260,000 + $220,000 = $632,000

5) However this is before considering your 2nd HDB loan, resale levy, agent fees & legal fees.
6) So if do a more accurate calculation it should be as follow when putting the (5) in the equation:
(a) Cash proceed = $53,500 + $5,000 (deposit from the buyer)
(b) CPF (bal + returned) = $40,000 + $220,000 = $260,000
(c) Balance cash for the next purchase = $58,500

7) The 6(c) is the 50% cash ($58.5k) to be retained for the next purchase, and a resale levy of $40,000 for the HDB is deducted from your cash proceed, which is ($157,000 - $40,000)/2 = $58,500.
8) If you put in the legal fees of around $1,500 (inclusive of GST) & agent fees of $12,412 (2% + 7% GST) = $13,912
9) Your final cash proceed is $58.5k - $13,912 = $44,588.
10) Your total funds for the next purchase = $44,588 (cash) + $260,000 (CPF) + $220,000 (HLE) + $58,500 (reserved from last sale) = $583,088

11) When doing budgeting it is important to consider the stamp duty involved.
12) My suggestion is you should not consider any price exceeding $571,000 for your next purchase.
13) Because if you buy at $571,000, your buyer stamp duty would be $11,730, add these 2 up = $582,730 which almost fully exhausted all your funds.
14) You should also reserve some cash for your renovation which easily overflows as most people did. So exercise an extreme caution in your budgeting.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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