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I intend to keep part of the sales proceeds of my flat for Reno for the resale flat I buying. How does hdb determine the amount I need to down pay for the resale flat. Para refers: To further encourage financial prudence, HDB will reduce the quantum of the second concessionary loan by the full CPF proceeds and part of the cash proceeds from the disposal of the existing or immediate past HDB flats. relating to the disposal of the flat (where applicable). HDB will determine the proceeds to be deducted....
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1 Answer

Mike Lim
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Afternoon,

The particular clause that you have extracted is meant for those who are taking second HDB loan. If that's the case for you, 50% of your cash profit must be used to pay for the upcoming purchase. The amount of HDB loan that will be dispersed to you will be: Valuation - CPF monies (refund from sales plus current balance) - 50% cash profit from sales.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
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