In Singapore, when one co-owner of an HDB flat wishes to buy out the other co-owner's share (part-purchase), HDB calculates the value based on the following factors:
1. **Original Purchase Price:** This is the price you and your brother paid for the flat in 2009.
2. **Outstanding Loan Amount:** If there's any outstanding loan on the flat, this amount will be deducted from the original purchase price.
3. **Valuation Report:** A valuation report will be commissioned to determine the current market value of the flat.
4. **Shareholding Proportion:** The value of each co-owner's share will be calculated based on their respective ownership percentages.
Based on these factors, HDB will determine the value of your share, which will then be used to calculate the amount your brother's wife needs to pay you.
**Cash Proceeds Calculation:**
To estimate the potential cash profit, you'll need to consider the following:
1. **Value of your share:** This is calculated based on the factors mentioned above.
2. **Your CPF contributions:** You mentioned a CPF contribution of $75,000.
3. **Your brother's contribution:** Your brother contributed $21,000.
4. **Outstanding loan amount:** Deduct any outstanding loan amount from the value of your share.
Assuming a simple scenario where there is no outstanding loan, the cash proceeds would be calculated as follows:
* **Total value of your share:** (Value of your share) - (Your CPF contributions) - (Your brother's contribution)
If the total value of your share is higher than the sum of your and your brother's contributions, you will receive the difference as cash proceeds. If not, there won't be any cash profit.
**Important Considerations:**
* **Valuation:** The valuation report plays a crucial role in determining the final amount. If the current market value is higher than your original purchase price, you might receive a cash profit.
* **Resale Levy:** If you are buying another subsidized flat (e.g., BTO or resale flat with CPF Housing Grant), you may need to pay a resale levy based on the value of your share.
* **Professional Advice:** It's recommended to consult a property agent or lawyer for a more accurate assessment and guidance on the part-purchase process.
For further information and assistance, you can contact HDB directly or visit their website for details on part-purchase transactions.
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