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We are looking at selling our executive apartment. Based on our expected selling price and paying up outstanding loan from hdb and refunding the utilized cpf amounts, we have estimated cash proceeds of $200k. If we do not intend to purchase a hdb flat next, but will be staying with my parents and looking out for a Pte property next, how much of the cash proceeds can we keep? Thanks.
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2 Answers

Mike Lim
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Morning,

If you are not buying, the cash proceed available to you will be as what you have projected. Selling price - Outstanding Loan - CPF utilized - CPF Interest = Cash Profit.
In purchase of private property, you should be able to get 80% loan, depending on your credit status and income, of this 5% must be cash and the rest can be in CPF / CPF + Cash or Cash.

FYI
Mike Lim
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OHMYHOME PTE LTD
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