6 Answers

Dora Goh

1) If you buy a resale flat, no need to pay any levy
2) Let me calculate it for you
3) Percentage of CPF you can use depends on the age of the property (for HDB)
4) Yes

Contact me at 88209000, I will explain to you more in detail.

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Contact: +65 8820 9000
Email: dorothygohly@era.com.sg
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Ivan Ng

Resale levy is only applicable if you are buying another subsidized flat (ie. Sale of Balance or new EC). If you are buying another resale hdb without grant, no levy is applicable.

The cash proceeds are what is available after Sales Price less CPF utilized and refunded, less mortgage loan and transaction costs such as conveyancing and agent commission.

Yes you can use CPF OA for your next property. Contra is also possible but you need to be taking hdb loan again.

I have done upgrading cases before and will be glad to share more on the best approach and the detailed financials and timeline.

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.

Warm Regards,
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- 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


YT Tan (陈永达)
Good evening,

you will have to pay resale levy if you are applying for sale of balance flats. But if you are going for resale HDB, there wont be any resale levy payable.

Usually for my clients, I will draft up a financial plan to derive an estimated sales proceeds based on possible sale price, outstanding loan if applicable, CPF utilised plus accrued interest and other costs.

If you are using HDB loan, you will have to use all your CPF OA funds. If you are using bank loan, you can opt to select how much you will want to use.

Last of all, yes you can use contra facility if you would like to take up HDB loan for your next purchase.

Hope my explanation helps!

I am active in punggol/ sengkang and stay nearby as well. May I know how can I value add further in your property needs?

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171
(E): yt.tan91115171@gmail.com
(FB): www.facebook.com/yttanassetprogessor

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Nick Tan
Dear Mdm,

1) There will be no resale levy when you purchase a resale flat. However, resale levy is payable when you purchase a new BTO or an EC.

2) It is definitely a positive sale for you as your unit is a BTO. Sales Proceed = Sales Price - Outstanding Loan - CPF + accrued interests to be refunded.

3) As long as you are below the age of 55 years old, you are able to use 100% of the funds refunded towards your next purchase! There is no restrictions on CPF funds usage!

4) Contra is possible but usually not advisable for your case as contra involved using HDB loan for your next HDB purchase. Upgraders choose not to use conta because HDB interest rates at 2.6% is higher than current bank rates of about 1.5%. Secondly, owners will only be able to cash out 50% of their sales proceed if they choose to use contra.

Instead, your upgrading timeline and your finances can be planned in a manner that you can sell and buy with minimal disruption.

I have assisted many of my clients in a similar situation as yourself living in Punggol and Seng Kang. Just last month, I have also transacted a 4 room unit at Punggol at a record price with a Cash Over Valuation of $38,000.

Please feel free to contact me so that I can gather more information from you and share with you in details how you should plan and implement the upgrade plan!

Nick Tan
(M) +65 9644 4854
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Testimonial from Satisfied Clients (2016/2017)

"We are writing to formally thank and commend Nick Tan for his help in our recent HDB buy
and sell transactions, which were completed within a very tight timeline and in a fuss free manner.

My wife Jessica and myself are owners of a 4 room HDB unit, planning to upgrade to a HDB Executive
Apartment unit to accommodate our growing family. We just received our 2nd boy about a year ago. As
HDB doesn’t allow us to own 2 houses concurrently, we had to time the sale and purchase of our flats
very carefully, to avoid a situation where we are forced to vacate our existing flat and left homeless
waiting for the new place to be ready (after allowing time for renovation).
As it turned out, we managed to sell our current place within 2 weeks of listing (essentially just 2
weekends of home viewings) and we secured our new place the following week. Despite the tight
timeline, the existing place was sold at a record price for units in my neighbourhood.”

Mr & Mrs Lim (HDB Upgrader)

“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)

“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) Read More


Robbie Chen Chee Howe

From your questions, I think it's advisable for you to engage a proficient agent to assist you in your transition.

Let me first help you with your initial questions:
1) No resale levy payable for resale flats.

2) Cash proceeds will be sales price less off outstanding loan amount, less off CPF refund, less off agent and legal fees.

3) Yes, if the flat is above 60 years balance lease, you can utilise all of your OA funds.

4) Yes, it is possible for you to do contra, if your current flat is under HDB loan, and you plan to get another HDB loan for your next house.

Hope the above clarifies.

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


Ling CK
There are other concerns which were not spelled from your queries.
But let me starts by addressing the queries you had spelled.

(1) No resale levy incurred when buying resale.
(2) Cash proceeds = Selling price - CPF refund - Loan - agent fees - legal fee - miscellaneous
In order to get an accurate calculation, it is best to engage an agent to do the calculation.
(3) All funds under OA can be utilize before reaching 55.
(4) Contra can be done, but do note that this can only be done with HDB loan for the next flat,
& 50% of cash proceed will have to pay for the next purchase.

The other concerns that were not spell were:
(1) Sale of balance: also considered subsidized flat thus resale levy is inccurred.
It is $40k for 4-room (this is based on your current flat & not the next purchase).
(2) In order to get the most cash out, it is best to get HDB loan but without the contra.
Because getting bank loan will require 5% cash for the purchase.

Hope the above address all your concerns, otherwise, I can be contacted via 90110636 or email

Best regards
Ling CK Read More