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Him

I assume you are the seller.

Sold = $ 415k
Outstanding loan = $ 135k (minus)
Remaining = $ 280k

Remaining = $ 280k
CPF OA: = $ 350k (minus)
Sale proceed = $ 70k (-)

(1) Even though this sold under valuation, it does not meant that you have to return the difference.
(2) This is a negative sales, meaning you own CPF $70k, no cash received under this sales.

If my interpretation of the above for your scenario is correct, means you suppose to return $70k to CPF.
There must be a good reason for you to proceed with this transaction, your agent should give you proper advice under such scenario whether to proceed with the transaction.

I'm not in a position to advise whether this transaction should proceed since I have no idea with your current situation.

Note: If this is a transaction you must proceed, you should appeal to CPF to waive the need to return the difference to ease your financial situation.

Hope the above answer to your main concerns, but if there are more queries, 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

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Dear Sir/Mdm,

You will not need to top up the difference of 70k even if it is a negative sale provided that the sale is done at a market valuation price.

However, as it is a negative sale, you will not be able to receive any sales proceed including the deposit which the buyer is paying to you.

You may want to consider not selling as it is a negative sale. Please feel free to contact me so that I can understand your situation better and provide you with further assistance!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
https://www.cea.gov.sg/docs/default-source/module/newsletter/3-2017/bouquets-for-property-agents.html

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Mr and Mrs Chan (Sold and Bought a property through Nick) Read More