By MoneyBees
Work out the cash from selling your HDB flat after the loan, the CPF refund with accrued interest, the resale levy if you buy another subsidised flat, and agent and legal fees.
HDB takes the resale price and deducts the outstanding housing loan, the CPF you used with accrued interest (returned to your CPF account), any cash deposit you already got from the buyer, and amounts owed such as the resale levy or upgrading costs. The rest is paid to you in cash.
Not if you sell at market value. You refund only the selling price less the outstanding loan. If you sell below market value you top up the shortfall in cash.
You pay the balance of the loan in cash.
It is the interest your CPF would have earned had you not used it, at CPF's prevailing rates, compounded yearly from when you first used it. The Ordinary Account rate is at its 2.5% floor.
Only if you buy a second subsidised flat from HDB. If you sell your first flat after collecting the keys to the second, the levy is deducted from the net sale proceeds; if before, you pay it in cash at key collection.
It is not fixed. You agree the amount or rate with the agent, and should check whether GST is included. Only GST-registered agencies charge GST.
A resale application fee of S$80 for 3-room and bigger flats (S$40 for 1- and 2-room). If HDB acts for you, its legal fee for the transfer is 6.75 cents per S$100 on the first S$30,000, 5.40 cents on the next S$30,000 and 4.50 cents on the rest, minimum S$21.80.
After the Minimum Occupation Period: 5 years for most flats and 10 years for Plus and Prime flats, counted from legal completion and excluding time you did not live there.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).