6 Answers

We are unsure if the $500k will be fully back to your CPF as it is depending on how much CPF monies you have used for the purchase of the current HDB, including the accrued interest, that will be refunded back to your CPF account.

Depending on both your wife and your age, CPF usage can be drawn down for the next purchase as per what you have mentioned. As to the CPF refund arrangements in future, it will still be based on the CPF usage with accrued interest to be refunded into the CPF accounts before the rest are being split as the sales proceeds. If you have preference on the arrangements and apportionment of the sales proceeds, you can speak to a lawyer to make necessary arrangements. Read More

You only need to refund the CPF utilized + accrued interest you have used for the property. You can find out this amount via the singpass login at CPF website or singpass app.

Assuming there is 300k cpf to be refunded and there is more than 300k balance after home loan redeemed and deducted from the sale price, yes you can use this buy the BTO

Yes the sale cash proceeds will be allocated in the proportion of the tenancy in common. But the cpf refund + accrued is not, and depends on how much the owner used.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Multiple Diamond Award Achiever

SEAA Salesperson Achievement Award (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)

ERA Top 11th Achiever in Feb 2024 (Top 1% Company Level)
ERA Top 64th Achiever in March 2024 (Top 1% Company Level)
ERA Top 37th Achiever in Oct 2023 (Top 1% Company Level)
ERA Top 93th Achiever for Full-Year 2020 (Top 1.5% Company Level)
ERA Top 11th Achiever in June 2020 (Top 1% Company Level)

SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 97432395 
Whatsapp: wa.me/6597432395
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
Web: ivanng10.com/clientreviews
(Client's Testimonials)
CEA: R052114D

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! ** Read More
Hi, appreciate your sharing. For HDB loan to HDB loan, the CPF OA usage only allow to keep up 20,000.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Stewart-PropNex (Senior Associate Division Director) Read More
Hi Sir,

As long as you are below the age of 55 years old, you will be able to use 100% of the CPF + Interests which is refunded to your CPF account after the sale of the flat.

If you wife is a co-owner of the new BTO, then she will be able to use her CPF refunds. When you sell the flat in the future, the respective CPF amount used will be refunded and the profits from the sale will be distributed according to the 80:20 proportion.

Please feel free to contact me so that I can understand your intentions and provide you with further assistance.

Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

SEAA Salespersons Achievement Platinum Award 2020/2022/2023

WhatsApp: https://wa.me/qr/X6VRPGSSIHN5D1

Visit my website to get to know me better:

I was featured recently on Council for Estate Agencies (CEA) Newsletter:

Testimonial from Satisfied Clients

“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically, he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
Weilun & Benita (Property Seller)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations. We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful Read More

1) In order to decide how much funds from CPF to be utilized on the HDB flat, you must be taking a bank mortgage instead of the HDB loan.
(a) When you are taking an HDB loan, the maximum fund to be retained in your CPF OA is $20k. This is applicable to all buyers using HDB loans.
(b) If you are using an HDB loan now, and applying for a 2nd HDB loan. Half of the cash proceeds from the sales must be used to pay for the new purchase.
(c) If you have applied and received grants for the current flat. You will have to pay a resale levy in cash before collecting keys for your BTO.
(d) You may decide the amount of funds to be used in the BTO when taking a bank loan. You have to highlight the amount to loan from the bank before they issue the Letter Of Offer (LOO).
Otherwise, the bank will release the maximum loan you are eligible for instead of what you need.

2) The CPF refunded will be according to:
(a) how much was utilized with accrued interest in each account if this is a positive sale.
(b) If this is a negative sale, it will be allocated according to the percentage of the shares.
(c) The cash proceeds will be returned under a single cashier order bearing all owners' names.
The above is when the couples are still under a married status.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answers 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
https://www.linkedin.com/in/ckling/ Read More
Refunding CPF for Your HDB Flat:

You only need to return the CPF money you used for the flat, plus any interest it earned.
You can easily check this amount by logging in to the CPF website or app with your Singpass.

Sharing Sale Proceeds: in proportion> engage a PRIVATE LAWYER TO ADVISE AND IMPLEMENT

The money left after everything is settled (sale cash proceeds) will be divided between you and your co-owners based on the percentage of ownership you each have (tenancy in common).
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255


"If you need more assistance with property matters:

like renting / selling, buying / or investing, I'm here to help!

WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255

(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

(***) You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份) :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: (65) 98 56 92 55 or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT : )

“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”