What if the sales proceed is insufficient to refund back to my CPF account ?
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PHS Public Housing Scheme
Sale of HDB Flat & Refund of CPF under PHS
Q: Upon the sale of my flat, how much do I need to refund to my CPF account?
A: For HDB flats bought with HDB loans
The sales proceeds (including the option monies) will be used to pay off the following, in this order:
1) Outstanding HDB loan
2) HDB resale levy (if any)
3) Required CPF refund
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.
The net sales proceeds will be refunded to you and your spouse’s CPF accounts using the following formula:
(a) Refund to A’s CPF Account:
= Required CPF Refund for A X Net Sales Proceeds
--------------------------------------------
Required CPF Refund for A & B
(b) Refund to B’s CPF Account:
= Required CPF Refund for B X Net Sales Proceeds
--------------------------------------------
Required CPF Refund for A & B
For HDB flats bought with bank loans
The sales proceeds (including the option monies) will be used to pay off the following, in this order:
1) Outstanding bank loan
2) Required CPF refund
3) HDB resale levy (if any)
If the sales proceeds after paying (1) 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.
The net sales proceeds will be refunded to you and your spouse’s CPF accounts using the following formula:
(a) Refund to A’s CPF Account:
= Required CPF Refund for A X Net Sales Proceeds
--------------------------------------------
Required CPF Refund for A & B
(b) Refund to B’s CPF Account:
= Required CPF Refund for B X Net Sales Proceeds
--------------------------------------------
Required CPF Refund for A & B
http://ask-us.cpf.gov.sg/explorefaq.asp
Browse all FAQs by category
PHS Public Housing Scheme
Sale of HDB Flat & Refund of CPF under PHS
Q: Upon the sale of my flat, how much do I need to refund to my CPF account?
A: For HDB flats bought with HDB loans
The sales proceeds (including the option monies) will be used to pay off the following, in this order:
1) Outstanding HDB loan
2) HDB resale levy (if any)
3) Required CPF refund
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.
The net sales proceeds will be refunded to you and your spouse’s CPF accounts using the following formula:
(a) Refund to A’s CPF Account:
= Required CPF Refund for A X Net Sales Proceeds
--------------------------------------------
Required CPF Refund for A & B
(b) Refund to B’s CPF Account:
= Required CPF Refund for B X Net Sales Proceeds
--------------------------------------------
Required CPF Refund for A & B
For HDB flats bought with bank loans
The sales proceeds (including the option monies) will be used to pay off the following, in this order:
1) Outstanding bank loan
2) Required CPF refund
3) HDB resale levy (if any)
If the sales proceeds after paying (1) 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.
The net sales proceeds will be refunded to you and your spouse’s CPF accounts using the following formula:
(a) Refund to A’s CPF Account:
= Required CPF Refund for A X Net Sales Proceeds
--------------------------------------------
Required CPF Refund for A & B
(b) Refund to B’s CPF Account:
= Required CPF Refund for B X Net Sales Proceeds
--------------------------------------------
Required CPF Refund for A & B
