Hi,
It depends also on the cpf utilized+accrued interest. The formula to estimate the sale cash proceeds is as such.
Sale price 490k
Less home loan outstanding 195k
Less cpf utilized+accrued interest
Less legal fees
Less agent success fee
Balance will be the sale cash proceeds.
Whether its advisable depends on the lifestyle preferences and also the eventual purchase price. Happy to assist on the calculations so that you can have the full picture on whether the upgrade is feasible.
May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.
Warm Regards,
Ivan Ng Realtor
ERA Senior Marketing Director
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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --
I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.
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You can singpass login to cpf website under Home Ownership - Dashboard, to see how much CPF utilized+accrued interest you need to refund for all owners.
Will need this figures then can calculate. For the sale cash proceeds required for next flat, if you are taking HDB loan again, 50% of sale cash proceeds are required. For bank loan, minimum 5% of purchase price
Perhaps it will be easier to discuss over phone. Thanks
Ivan
97432395
Cash downpayment 195k
The rest is cpf (forgot how much) + hdb loan
Balance hdb loan is 195k currently
Does the cpf used + accured interest goes back to cpf? W the sale cash proceed, what % do I have to use for the next flat?