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Hi Jamie,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, you would also need to factor in the agent commission which will be at 2% of the selling price.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Dear Jamie,

This calculation is not for profit but on sales proceeds. Typically the sales proceeds will be derived from the Selling price minusing off the total of the outstanding loan, total CPF funds utilised plus the accrued interest and any other outgoings like legal fees, agent fees as well as discharging of bank loan incurred for the sale.

Typically if you are really calculating the profit, you will probably also need to keep track on the expenses paid like renovation, maintenance fees, property tax, stamp duties and etc incurred during the purchase. Not too sure what you are trying to derive from this question though.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Good afternoon Jamie,

To calculate the cash proceeds returning to you after the sale, you can use Sale Price less Outstanding Loan less CPF utilized + accrued interest less legal fees less agent success fee.

To calculate profits from the sale, its a bit subjective as renovation expense, buyer stamp duty some owners may not feel it should be factored in if they have stayed in the condo and they will write off this as consumption expense. As for the cash outlay used in the purchase price, yes that should be deducted to "cover" your original outlay.

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, appreciate your sharing. Able to do a free breakdown cost for you from sale to purchase.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More

Good morning Jamie,

Typically sellers will deduct CPF OA funds utilised plus accrued interest, outstanding loan, expenses (legal fees and agent commission) off from sale to compute sales proceeds.

If you wish to derive your profits, you of course can opt to include sunk cost like buyer's stamp duty and renovation cost as well but most wont.

25% downpayment made up your purchase price back then.

If you had used CPF OA funds to pay your 20% back then, you are doing double entry again as you already deducted it off.

By the way your husband needs to form a family nucleus to purchase a HDB. So you have to be included into the HDB purchase as owner or essential occupier under public scheme.

By the way, how old are you guys?

If both of you are below 55 years old, you have to dispose off your private property first and observe 15 months waiting period before eligible to buy resale HDB.

If both are above 55 years old, you guys can buy up to a 4RM HDB.

Perhaps it will be better to call or meet up to discuss what are your options and to clear all your doubts in mind.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

Contact:
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Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me.

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More