By MoneyBees
Work out the cash from selling a condo or landed home after the bank loan and redemption penalty, the CPF refund with accrued interest, Seller's Stamp Duty, agent and legal fees.
The selling price less the bank loan and any redemption penalty, less the CPF you used plus accrued interest, which goes back into your CPF. From what is left you pay Seller's Stamp Duty if you sell within the holding period, the agent's commission and your lawyer.
Yes. CPF Board requires you to refund the CPF principal you used and the accrued interest. Below 55 it goes into your Ordinary Account. From 55 it first tops up your Retirement Account to the Full Retirement Sum and the rest stays in your OA.
If you sold at market value, you refund only the selling price less the outstanding loan and do not top up the shortfall in cash. If you sold below market value, CPF Board says you must top up the shortfall in cash.
For a home bought on or after 4 Jul 2025: 16% if sold within 1 year, 12% within 2, 8% within 3 and 4% within 4 years. For a home bought from 11 Mar 2017 to 3 Jul 2025: 12%, 8% and 4% within 1, 2 and 3 years. IRAS charges it on the higher of the price and market value.
Within 14 days of the executed sale contract. IRAS allows no deferment, and late payment adds a penalty of 5% a year, charged daily. The seller pays.
From the date you accepted the option to purchase, or signed the sale and purchase agreement, to the date your buyer accepts your option or signs the agreement.
No. IRAS taxes a gain on property only when you are trading in properties as a business.
CEA says commission is not fixed and you are free to negotiate the amount or rate. Only a GST-registered agency can add GST. Pay the agency, not the agent.
It depends on your loan package. The bank's fact sheet and your letter of offer list the lock-in period and penalty fees. MoneySense says to check whether the lock-in still applies to your loan; if it does, penalties may apply.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).