How to Calculate Sales Proceeds from Sale of HDB

Planning to sell your HDB flat? One of the first things you will want to know is how much cash you will actually walk away with after the sale. This guide breaks down each component so you can estimate your net sales proceeds accurately.

To work out the sales proceeds (or cash) you will receive from the sale of your HDB, you will need the following information:

• Estimated Sale Price of Your Property
• Outstanding Mortgage Loan Amount
• CPF Monies Utilised
• Property Agent Commission
• Legal Fees
• Mortgage Loan Pre-Payment Penalties
• Other Costs

Estimated Sale Price of Your Property

You can work out the estimated sale price of your property by referencing past transacted prices. Past HDB resale transactions can be found at the HDB Resale Flat Prices portal.

Alternatively, you may use our Intrinsic Value Tool for a quick estimate, or WhatsApp us with your full address and we can provide a data-backed valuation.

Outstanding Mortgage Loan Amount

If you are on a bank loan, you can check the outstanding mortgage amount by calling your bank or checking your bank's online portal.

If you have taken an HDB loan, you can visit www.hdb.gov.sg to find out your outstanding mortgage loan amount.

Here are the steps to find out how much outstanding mortgage loan you have with HDB:

Step 1: Go to www.hdb.gov.sg. Click on "Login" and sign in to My HDBPage using your Singpass.

Step 2: Scroll down and click on "My Flat". After the menu has expanded, click on "Purchased Flat".

Step 3: Click on "Financial Info".

Step 4: You will be able to find your outstanding loan balance on this page.

CPF Monies Utilised

The amount of CPF monies used to pay for your property must be returned to your CPF Ordinary Account after the sale, including the accrued interest at 2.5% per annum.

Here are the steps to find out how much CPF monies (including accrued interest) must be returned after selling your property:

Step 1: Go to www.cpf.gov.sg. Click on "Login" and sign in using your Singpass.

Step 2: After logging in, click on "My Statement".

Step 3: Click on "Net Amount Used & Amount Available".

Step 4: You will be able to find the amount of CPF used for your property purchase and the accrued interest.

Note: The HDB and CPF portal interfaces may look slightly different from the screenshots above, but the steps remain the same. Look for "My Flat" on HDB and "My Statement" on CPF.

Property Agent Commission

If you engage a property agent to sell your HDB flat, you will typically pay a commission of 1% to 2% of the sale price, plus the prevailing 9% GST.

For example, on a $600,000 sale at 2% commission: $12,000 + $1,080 GST = $13,080.

Looking for a team that provides transparent, data-driven advice? Learn more about our advisory services.

Legal Fees

A lawyer is required to complete the sale transaction. Legal fees for an HDB resale typically range from $2,000 to $3,000, depending on the complexity of the transaction.

Mortgage Loan Pre-Payment Penalties

If you sell your property before the lock-in period of your home loan expires, you will have to pay a penalty fee. This is usually around 1.5% of your outstanding loan amount.

For example, if you have $300,000 remaining on your loan and you are still within the lock-in period, you may have to pay a penalty of $4,500.

Always check with your bank on the exact penalty terms before committing to a sale timeline.

Other Costs

You may also need to settle any outstanding property tax, conservancy charges, and maintenance fees up to the date of completion.

Worked Example

John bought his HDB flat more than 3 years ago and decides to sell at an estimated price of $600,000. He agrees to pay his property agent a commission of 2%. He has checked that he needs to refund his CPF (including accrued interest) of around $150,000, and has an outstanding bank loan of $300,000 with refinancing done less than 1 year ago (still within the lock-in period).

His estimated cash proceeds:

Keep in mind that this is just an estimate. The actual amount may vary depending on your specific situation. For a personalised breakdown, feel free to get in touch with our team for a no-obligation consultation.