7 Answers

Ivan Ng

If the sale price cannot cover the outstanding loan and CPF OA + accrued interest of all owners, it will be considered a negative sale. For negative sale, the CPF ruling is that if the transacted price is equal to or above valuation price, there is no need to up the CPF OA + accrued interest shortfall in cash.

Yes the 200k balance CPF OA can be used to offset the loan amount such that you need not loan as much. 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.

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(ASk Anything Property)
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-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --

Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.

Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.

Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.

--- HDB Flat Upgraders Mr. & Mrs. Lee ---

We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

-- HDB 5-rm Sellers Mr. & Mrs. Ting --

We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.

He is hardworking and committed to his work. He puts in great efforts in arranging clients for viewings and kept us updated thereafter. He is ever ready to help and guide us whenever the need arises.

He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.

Thanks, Ivan. Keep up the good work! Read More


Mark Ng S W
Hi Yes, that is correct and you are able to use the balance CPF to offset your next purchase. Do contact me at 97970200 to discuss more

Mark, your RIGHT choice
MCG Read More


D. Kumar
Hi there,

In such cases, I believe getting brief answers here won't really value add your understanding. I suggest you get someone to have your financial calculations churned out succinctly and establish the timeline and detailed analysis before you can proceed with your plans . It is far more time effective and efficient. At the same time , you could learn more of the market possibilities and market insights transactions. Do let me know if you would need any advise or assistance at no obligation.

Where words do fall short, I would let me accolades and testimonials speak for my dedication and experience in this industry for the past 20 years. Please visit my website : www.kumarrai.com for all the up to date awards, testimonials and accolades. Thank you very much!

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Nick Tan
Dear Sir/Mdm,

For your case, it is considered a negative sale. The important issue to consider for the sale is that you will need to secure a sale price which is at valuation or higher so that CPF board will not require you to top up cash for the shortfall of the accrual interests.

For the purchase, your assumption is correct, you may use the excess CPF in your OA to offset the loan and secure a less than 80% loan. However, there are other costs that you may need to factor in as well such as the buyer's stamp duty as well as the legal fees into your financial plan.

It makes financial sense to upgrade for your situation as the accrual interests will continue to roll in the long run. I have assisted many clients who are in a similar situation of dealing with negative sale. Most recently, I have managed to assist my owner to achieve a price which is higher than the valuation and therefore he does not need to top up his CPF with cash.

Please feel free to contact me so that I can understand your situation better and provide you with more informed recommendations!

Nick Tan
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(E) nick96444854@gmail.com
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“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”

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“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.”
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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 mind.”
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Mr and Mrs Chan (Sold and Bought a property through Nick) Read More


YT Tan (陈永达)
Good morning,

It's not uncommon to have negative sale for resale HDB owners due to accrued interest.

Bear in mind that accrued interest forms part of your OA. If you dont use the funds to finance the house, the funds will grow with interest.

And you will not require to top in cash if valuation is on par with your sale price. If valuation is below, you will have to top up in cash. We can request for waiver if there's strong evidence to support that we have tried our best to secure the best price.

As for purchase of private $1.2m, the breakdown is as such:

5% cash downpayment (d/p): $60k
15% cash or cpf d/p: $180k
stamp duties as Singaporean (assumed): $32,600 (cash first if resale then reimburse back in cash if have excess cpf oa funds)
legal fees (cash or cpf): $3k

It's true that you will have a reduced loan if you decide to wipe off all your CPF OA funds. But I might discourage this arrangement.

Will you be keen to find out why so?

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YT TAN 陈永达 | ACCA Graduate, RES
Propnex Realty Pte Ltd

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Robbie Chen Chee Howe
Hi Sir,

The situation you are now encountering, we term it "negative sales". This generally happens if the price appreciation for your property underperforms the CPF refund rate, which is set at 2.5%.

You do not need to pay back this "investment loss" to your CPF, provided you sell your HDB flat at or above valuation.

There is also no fixed rule that says you must take 80% loan for your condo purchase. This means that you have the option to wipe out your CPF funds and take a smaller loan.

However, there are certain risks involved if you choose to do so. Hence, whether this method is recommended for you and your family, I would say it depends largely on your family profile, risk appetite and plans going ahead.

Let's take this discussion further, I will need to understand more from your perspective, before I can give the most appropriate recommendation to your housing plans.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More


Tricia Tan 陈丽子
Hi Owner.
I specialise In D19 for hdb, pte properties and new launches and had helped many owners to sell off their hdb and move on to their next property. Various options could be available. You may want to reach me via 91442664 for a non obligation discussion.

Best Regards,
Tricia Tan
Group Director
Propnex Realty Pte Ltd

"Tricia Tan Real Estate Services" Read More