Asked by Anonymous
Hi,
I am planning to sell my resale HDB as I'll be taking over my EC when it obtains TOP. I took a HDB loan and have used the HDB sales proceeds calculator. This is my breakdown:
Proposed Sale Price - $500,000
Outstanding Loan - $300,000
Resale Levy - $45,000
CPF plus accrued interest - $220,000
Sale proceeds - NEGATIVE $65,000
I have read previously that the sales proceeds will be paid in this order:
1. Outstanding loan
2. Resale Levy
3. CPF plus accrued interest
Also, if the HDB is sold at market value and in my case is negative sales proceeds, ive heard that I do not need to top up my CPF in cash.
I would like to know if this holds true? Am I required to top up $65,000 in cash back to my CPF account?
Appreciate the help
I am planning to sell my resale HDB as I'll be taking over my EC when it obtains TOP. I took a HDB loan and have used the HDB sales proceeds calculator. This is my breakdown:
Proposed Sale Price - $500,000
Outstanding Loan - $300,000
Resale Levy - $45,000
CPF plus accrued interest - $220,000
Sale proceeds - NEGATIVE $65,000
I have read previously that the sales proceeds will be paid in this order:
1. Outstanding loan
2. Resale Levy
3. CPF plus accrued interest
Also, if the HDB is sold at market value and in my case is negative sales proceeds, ive heard that I do not need to top up my CPF in cash.
I would like to know if this holds true? Am I required to top up $65,000 in cash back to my CPF account?
Appreciate the help
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