HOW YOUR HDB SALE PROCEEDS MIGHT GET END UP BEING TAKEN BY CPF

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Real Life Example 1:

Mr Owyang & Wife

Bought 4-room HDB Resale flat in AMK 9 years ago for $330,000.

Sold at $400,000

Paid mostly using CPF

Husban and wife total CPF used is $265,000

Husband and wife total CPF Accrued interest $65,000

Husband and wife total CPF $ 265,000 + Accrued $65,000 = $330,000 (Goes Back CPF)

Outstanding Loan of $65,000

Cash Proceed $400,000 – $330,000 – $65,000 = $5,000

If Mr Owyang even stay for 1 more year, he will fall into negative sale of $4,000

Why?

Becuse his accrued interest will be $74,000 instead of $65,000.

Real Life Example 2:

Mr Edmund Tan

Bought 5-room HDB in AMK 20 years ago for $360,000

Sold at $600,000

Good right? Because he sold so much higher than when he first bought the house.

Paid mostly using CPF

Total CPF used was $383,000

Accrued interest = $147,000

Outstanding loan =$65,000

Cash proceeds = $600,000 minus $595,000 = $5,000 ONLY

But Why ? Even when he sold his house higher than his initial purchased price, his cash proceeds is still only $,5000???

If you wish to learn more and find out for your own house, leave me your contact details below and
I will get back to you within a week.

Click here to read more, if you want to find out https://sghomeprices.com/how-come-i-sold-my-house-but-still-have-to-pay-money-to-cpf/

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