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Hi Sir/Mdm,

This happens to a lot of home owners when they hold on to their property over a long period of time. The compounding effects of the CPF is quite powerful and over time it will snowball to a big amount. When that happens, it will become a negative sale and therefore you will not be able to receive any sale proceeds after the sale and you will suffer a loss in your CPF.

You will still be able to shift to a new flat in the future, it is just that there will be lesser CPF available for you to utilise. To avoid this problem, you may choose to use as little CPF as possible during the financing of the house.

Please feel free to contact me so that I can understand your situation and assist you better!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
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“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 rec Read More

Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, it could happen and it is very common. So what most of my clients did is to sell the existing flat and to down size to a smaller one.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi,

1) Good question! not many people have given a thought to this until it really happened.
2) Without going into detail in the calculation, I just share a case I've come across.
(a) Bought an HDB Executive apartment at $470k in 1999.
(b) Loan 80% from the HDB.
(c) Sold in 2018 at $710k. (19 yrs)
(d) Owned CPF with accrued interest of $35k.

3) This is commonly known as negative sales. Since the seller did not receive any cash over this transaction.
4) When the rate of property appreciation is lower than the annual 4% given by the CPF board in the OA. This kind of situation will happen.
5) It means that if you had kept your CPF saving in the OA, you would be better off than buying a property over the year.
6) Although the seller was not able to get a higher gain from the property than the interest gain in the CPF board. They had built a family in it and had enjoyed many years living in it.
7) They are still able to utilize this $710k to upgrade to private property or downgrade to a smaller flat.

Hope the above answer your main concerns, but if there are more query, 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
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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