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After sell My HDB got negative sales

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Old 27-02-2018, 09:07 AM   #1
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After sell My HDB got negative sales

My scenario :
Resale HDB bought at : $296K
Sell my HDB at : $230K ( Market Price $220K )
Balance loan amount : $200K
Balance need to top up back to CPF : $40K

If I don’t have cash to put back to CPF, any solution ? Anyone encounter same scenario before ?
Thanks
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Old 27-02-2018, 09:39 AM   #2
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My scenario :
Resale HDB bought at : $296K
Sell my HDB at : $230K ( Market Price $220K )
Balance loan amount : $200K
Balance need to top up back to CPF : $40K

If I don’t have cash to put back to CPF, any solution ? Anyone encounter same scenario before ?
Thanks
The $40K is part of balance loan or resale levy or accrued interest?

If it is for accrued interest, no need to top up cash.
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Old 27-02-2018, 09:47 AM   #3
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There is no need to top up the shortfall to CPF as long as the property is sold at or above its current market value.
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Old 27-02-2018, 10:22 AM   #4
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First time see ppl sell flat at a loss. Ts sure bo
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Old 27-02-2018, 10:31 AM   #5
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There's quite a number of people having negative sales. Buy when the price at the peak... This now facing this issue. I more concern about the location. Cause it's 60k loss about. About 20% loss.
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Old 27-02-2018, 10:35 AM   #6
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First time see ppl sell flat at a loss. Ts sure bo
For resale, very common if bought during peak.
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Old 27-02-2018, 10:47 AM   #7
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My scenario :
Resale HDB bought at : $296K
Sell my HDB at : $230K ( Market Price $220K )
Balance loan amount : $200K
Balance need to top up back to CPF : $40K

If I don’t have cash to put back to CPF, any solution ? Anyone encounter same scenario before ?
Thanks
Which location? 3rm flat?
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Old 27-02-2018, 11:00 AM   #8
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My scenario :
Resale HDB bought at : $296K
Sell my HDB at : $230K ( Market Price $220K )
Balance loan amount : $200K
Balance need to top up back to CPF : $40K

If I don’t have cash to put back to CPF, any solution ? Anyone encounter same scenario before ?
Thanks
where is ur slum home ?
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Old 27-02-2018, 11:07 AM   #9
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My scenario :
Resale HDB bought at : $296K
Sell my HDB at : $230K ( Market Price $220K )
Balance loan amount : $200K
Balance need to top up back to CPF : $40K

If I don’t have cash to put back to CPF, any solution ? Anyone encounter same scenario before ?
Thanks
im more keen on the exact road, name location. floor lvl, bought which year, lease bal?
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Old 27-02-2018, 11:26 AM   #10
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im more keen on the exact road, name location. floor lvl, bought which year, lease bal?
Location: Marsiling Drive Low floor , 3 room flat
Near Market
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Old 27-02-2018, 11:29 AM   #11
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The $40K is part of balance loan or resale levy or accrued interest?

If it is for accrued interest, no need to top up cash.
I use up CPF plus interest about $60K ++ so after minus the sale short fall of $40K plus
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Old 27-02-2018, 11:43 AM   #12
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If the sale proceeds after paying off any outstanding mortgage are lower than the sum of principal amount + accrued interest, you will not be required to top up the shortfall as long as the property is sold at or above current market value.
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Old 27-02-2018, 12:19 PM   #13
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If the sale proceeds after paying off any outstanding mortgage are lower than the sum of principal amount + accrued interest, you will not be required to top up the shortfall as long as the property is sold at or above current market value.
I see, but why my agent told me I need to top up ? And asked me write in to CPF and check
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Old 27-02-2018, 01:02 PM   #14
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I see, but why my agent told me I need to top up ? And asked me write in to CPF and check
In theory no need to top up.

Just treat it as CPF losses usually.

But dropping by CPF office or getting a written confirmation on this matter is better, isn't it?
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Old 27-02-2018, 01:04 PM   #15
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I see, but why my agent told me I need to top up ? And asked me write in to CPF and check
See below for more information.

http://www.housesinsingapore.com/top-up-of-cpf-if-hdb-is-sold-below-valuation/
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