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When my HDB flat is sold at a loss, do i need to topup my CPF ?

i'm currently satying in a 4rm HDB ,thought of upgrading to a 5rm apt .
if i sell below $372k(below breakeven) ,do i need to topup CPF ?


My total CPF used for housing + interest is $129k
CPF ordinary account bal is $140k
My Housing loan balance(OCBC bank) is $243k
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7 Answers

Good morning,

In the case of negative sales, you will suffer CPF lose. You do not need to top up the difference. In your case, the outstanding loan will be cleared first. The balance $129k will be returned to your CPF. As of your current, you are in the break even excluding the legal fee, upgrading fee and agent's commission.

Do feel free to contact me should you require additional assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hi,

For a negative sale in your example, you need not to up in cash as long as the property is sold at or above market valuation. Will be glad to do a financial plan together to get the full picture before proceeding with any commitment. 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,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
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(Client's Testimonials)

--- HDB Flat Sellers Uncle "Seng" and Mdm. Png ---

Translation from Mandarin:

We are from the Pioneer Generation, already in our 70s, and have no experience selling HDB flat. As our new BTO is arriving, we considered selling our flat earlier.

We felt he was a patient agent who is willing to hear out our plans and concerns, and explain new HDB selling procedures clearly to us. He is also a hardworking agent who did Roadshows for weeks to create awareness for our unit, and we quickly found a buyer through this avenue.

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--- HDB Flat Sellers Mr. Hayum and Ms. Azizah ---

Ivan has justified our faith in appointing him as our Exclusive Agent. He transacted our unit at 620k, above valuation & highest price ever achieved for our block, within 2 months.

In a slow market, you need a proactive & committed agent who puts the extra effort. Besides advertising in papers & online intensively, he also had personally distributed flyers & spoke to potential buyers in neighboring blocks to increase exposure. Every week there were viewings & feedback.

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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! :) Read More
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Robbie Chen Chee Howe
Hi,

In a case of negative sale, you need not top up CASH to your CPF account.

The sales proceeds will be used to clear off your existing loan first, then remaining will be refunded back to your CPF-OA account.

Do take note that you will need to set aside some monies for legal conveyancing fee, agent commission and other miscellaneous fee.

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 in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Dear Sir/Mdm,

Whether you need to top up with depend on whether you are selling below valuation or not. If it is a negative sale then you will be required to top up the CPF. If it is sold on or above valuation then there is no need to top up.

In your scenario, I think we will really need to do a financial calculation to see how the figures works for you. You did also mentioned that you have intentions to upgrade to a bigger house so that puts us in another perspective altogether. I have just met up with 2 families over the weekend who were also doing upgrading and we shared quite a fair bit with them as well.

What I would suggest is that we can meet up for a chat and my partner and myself can share more insights with you. There may be some advice that we may be able to provide to you. After we know more about your situation then we will be able to advise accordingly. No worries as there are no obligations and we can just take it as a chat. Most importantly is to have your questions and doubts cleared.

Will be looking forward to hear from you soon! Cheers!

Best Regards,

Jeffrey Heng
Division Director (Sincerus Division)
ERA Realty Network Pte Ltd

** Featured in CEA Newsletter for Great Client Service **
https://www.cea.gov.sg/docs/default-source/module/newsletter/2016-year-end/bouquets-for-property-agents.html

ERA Overall Top Managers 2015
ERA Multi Million Dollars Club
ERA Division Top Achievers 2013/2014
SAEA Real Estate Excellence Silver Award - Best Client Service
(2014)
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(2012/2013)

Mobile : +65 9858 1322 
Email : hengjeffrey@gmail.com
Web : www.jeffreyheng.com Read More
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Hi,
If the sale if on the valuation or above, no top up of the shortage in CPF is required. Please drop me an email for me to explain in details to you.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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WhatsApp me at: ABLE Toh (65) 9856-9255  or through this link.:https://wa.me/6598569255
----------------------------888--------------------------------888--------------------------->>>
"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 9856*9255 or through this link.:https://wa.me/6598569255
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

(***) You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

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Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份) :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

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From: ABLE Toh- Your Property ASSISTANT : )
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ” Read More
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WhatsApp me at: ABLE Toh (65) 9856-9255  or through this link.:https://wa.me/6598569255
----------------------------888--------------------------------888--------------------------->>>
"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 9856*9255 or through this link.:https://wa.me/6598569255
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

(***) You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份) :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: (65) 9856*9255 or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT : )
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ” Read More
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