How Much Cash Will You Get After Selling Your HDB? Here’s the Truth About Sale Proceeds

If you sold your HDB flat for $380,000 and walked away with much less in hand, you're not alone. Many first-time sellers are surprised by how HDB sale proceeds are distributed - and how much actually goes back into their CPF.

If you're asking, "How much cash proceeds will I get after selling my HDB?" or "How much do I need to return to CPF?", this guide is for you. We'll break it down step-by-step, from CPF refunds and accrued interest to calculating your final cash in hand.

Here's Everything You Need to Know About HDB Cash Proceeds

First, Do You Know the Real Value of Your HDB?

Before you even list your HDB for sale, you can get a free indicative HDB valuation with HomerAI. While this isn't the official appraisal by HDB, it is a good estimate of how high you can sell your home. And with HomerAI, you'll get monthly updates on any changes in your HDB valuation. Did I mention it's free?

Define HDB Cash Proceeds

This is the actual cash you'll get in hand after selling your HDB flat. But before that happens, a few things need to be settled first - like paying off your remaining home loan and returning any CPF savings you used (plus accrued interest) back to your CPF account. You'll also need to cover legal fees and other costs, if any.

Whatever's left after all that? That's your HDB cash proceeds. It's the money you can use for your next home, to top up savings, or simply take a breather before your next move.

What Happens When You Sell Your HDB Flat?

Once you've sold your HDB flat, your sale proceeds go toward:

1. Paying off your outstanding home loan (if any)
2. Return CPF monies used (plus accrued interest)
3. Settling your resale levy (if applicable)
4. Covering legal and agent fees

For this article, we'll be zooming into #2: Returning your CPF monies to your account. The rest of the calculation is more straightforward in comparison.

Selling a Fully Paid HDB Flat: What You Still Owe

Even if your HDB flat is fully paid, it doesn't mean the sale price is all yours. You'll still need to refund any CPF funds used - including grants - along with accrued interest.

How Much Do You Need to Return to CPF?

Every dollar withdrawn from your CPF Ordinary Account for your HDB must be returned, plus 2.5% accrued interest per annum. This includes:

• Stamp duties, legal fees paid via CPF.
• Monthly instalments paid using CPF
• CPF housing grants

What If Your HDB Sale Proceeds Aren't Enough to Refund CPF?

If your flat is sold at or above market value, you're not required to top up any shortfall.

If you sell below market value, CPF may require you to top up the difference in cash.

Go here to check how much you need to refund to your CPF account upon the sale of your flat.

Step-by-step Breakdown of HDB Sale Proceeds Calculation

Mr and Mrs Lim's 4-room flat in Jurong East:

Selling Price: $380,000

Outstanding Loan Amount (HDB): $180,000

CPF Refund (Mr Lim): $70,000

CPF Refund (Mrs Lim): $70,000

Resale Levy (if any): NA

Total Cash Proceeds from HDB: $60,000

Legal Fee (HDB): $500*

Ohmyhome Agent Fee (incl. 7% GST): 1% of selling price + GST= $4,066

HDB Admin Fee: $80

Nett Cash Proceeds: $55,354

*HDB legal fee is estimated, and the final amount is subjected to HDB's calculation.

Do You Need to Pay a Resale Levy?

Only if you're buying another subsidised HDB flat (e.g. BTO or EC). This is paid in cash or from sale proceeds, not CPF.

No Time to Do the Math? UseAI to Calculate Your Potential Cash Proceeds For You

With HomerAI, you can get an automatic calculation of your potential cash proceeds, as well as your affordability for your next home. You can access these two calculators for free on HomerAI.

Have a Financial Plan Before Selling Your HDB Flat

Selling your HDB flat to purchase new property is not merely "upgrading". Not really. There are a lot of long-term factors that could affect your financial situation in the future, which could either make or break your bank, as well as your housing options. From the interests of home loans and grants to the miscellaneous costs and fees, it would be best to work out a thorough financial calculation with a trusted advisor before plunging into anything.

Sell Your HDB Fast and At the Best Price!

Sell your home for a high price in no time, hassle-free. Starting at 1% + GST of selling price. Drop us a message on WhatsApp or chat with us via our Live Chat at the bottom, right-hand corner of the screen.

Our Super Agents are CEA-certified and among the Top 1% in Singapore. With more than 8,000 happy customers served, we've garnered 4-star ratings on both Facebook and Google! We go in-depth about what you can expect when you engage an Ohmyhome HDB Seller Agent.

FAQs About Cash Proceeds After Selling HDB

How to calculate cash proceeds from sale of HDB flat?

To calculate your cash proceeds after selling HDB, you'll need to deduct the following from your selling price:

1. Outstanding home loan balance (if any)
   
2. CPF refund - all CPF monies used for the flat, including housing grants, plus accrued interest
   
3. Resale levy (if applicable)
   
4. Legal and administrative fees
   
5. Property agent commission

Cash proceeds = Selling Price - Outstanding Loan - CPF Refund - Fees - Resale Levy

To skip manual calculations, use HomerAI to get your estimated cash proceeds after selling your HDB instantly, based on your flat type, location, and CPF usage.

What if my sale proceeds are not enough to cover the refund amount?

If your HDB sale proceeds are not enough to fully refund the CPF amount used, here's what happens:

• If you're selling at or above market value, CPF will not require you to top up the shortfall in cash.
  
• If you're selling below market value, CPF may ask you to make up the difference out-of-pocket.
  

This is why knowing your CPF refund obligation and working with a Super Agent is crucial - so you price your flat correctly and avoid unexpected costs.

How long does it take to get CPF refund after selling house?

After your HDB sale completion, your CPF refund is typically processed within 2 to 3 weeks. The refunded amount (including accrued interest) will be credited directly to your CPF Ordinary Account (OA).

Remember: Your cash proceeds from selling HDB will only be released after CPF and loan obligations are settled. You can check the status of your refund via the CPF portal after the sale is finalised.

What happens when I sell my property?

The HDB resale process starts with registering your intent to sell via the HDB Resale Portal. Once registered, you can list your flat, negotiate with buyers, and issue the Option to Purchase (OTP) when you secure a serious buyer. After the buyer exercises the OTP, both parties submit the resale application to HDB. HDB will process and approve the application, typically within 8 weeks, and schedule a completion appointment. During this time, your sale proceeds will be used to repay your outstanding home loan, refund any CPF monies used (plus accrued interest), deduct the resale levy (if applicable), and cover legal, admin, and agent fees. The remaining amount - your cash proceeds after selling your HDB - will be transferred to your bank account shortly after the sale is completed.