Or you may have overcommitted a particular portion of the property sale without considering the CPF refund. In order to transfer the HDB flat to your ex-spouse, you will also have to pay any outstanding HDB loans and refund any grants that you had received when you purchased your flat. If you do not have this amount set aside, any refunds paid to your CPF Ordinary Account from the sale of your property will first go into your Retirement Account. If the sales proceed is less then the above, you do not have to top up ur CPF-OA account with CASH. This can make sure they make enough from the sale of their flat to return the principal and accrued interest to CPF. In this above scenario is $20,000 ($420,000 – $400,000) in cash. Q2. CPF members who use their CPF monies to purchase their property are required to make refunds into their CPF accounts when they sell their property. Yes, there’s still more. That means, you will not be able to return every single cent of CPF monies utilised and the CPF accrued interest. In a case of negative sale, you need not top up CASH to your CPF account. And that’s why you need to refund the interest as well. The usual sales proceeds will be used to clear off your existing loan and accurred interest first, then remaining will be refunded back to your CPF-OA account. In this above scenario is $20,000 ($420,000 – $400,000) in cash. If you are aged 55 and above, we will inform you if you do not have any balance housing refunds after the top up to your Retirement Account, upon completion of the sale of your property. The usual sales proceeds will be used to clear off your existing loan and accurred interest first, then remaining will be refunded back to your CPF-OA account. The final sale proceeds from selling your flat, is the purchase price of the flat, less the following components: • Outstanding mortgage loan • Return of CPF funds used with accrued interest • Earlier-received deposit (up to $5,000; from option fee and deposit) • Any other amounts payable, e.g. If not, you have to make up the shortfall by the amount that sold below valuation. See more details on how you can use CPF for a HDB flat and private property. It does not discriminate against flat type or flat location.

The sale proceeds will be used to pay off the outstanding housing loan taken to buy the HDB flat and the required CPF refund.

Public Housing Scheme: 1630: 1630: Evaluate: How much do I need to refund to my CPF upon the sale of my HDB flat? Under the current housing refund policy, CPF members who are below age 55 are required to refund the principal amount withdrawn for the property with accrued interest when they sell their property. However, any option monies (e.g. It is important to note that you can only use funds above the Full Retirement Sum of $176,000 to purchase your next property if you want to buy another flat … The accumulated interest is CPF accrued interest. If the selling price (including the option monies) after paying the outstanding housing loan is not enough to fully refund the CPF principal amount withdrawn together with the accrued interest, you do not need to top up the shortfall in cash, provided the property is sold at market value. If the sales proceeds after paying (1) and (2) is not enough to make the required CPF refund, you do not need to top up the shortfall in cash, provided the flat is sold at market value.