Work from likely proceeds, not the headline sale price
A selling price is not the same as the cash available for your next move.
Before committing to another property, estimate where the sale money needs to go. Outstanding housing finance, required CPF refunds, legal costs, agent fees, Seller’s Stamp Duty where applicable and other property-specific amounts can materially change the result.
This page provides a planning framework rather than financial, tax or legal advice. Exact figures should be checked with your bank or HDB, CPF Board, lawyer, IRAS and the relevant professionals before you transact. Property Sellers can help organise the inputs and explain how the sale timeline connects with your next move.
The figures to gather before you calculate
Start with a realistic expected sale price and the latest redemption figure for the housing loan. Check the CPF Home ownership dashboard for the estimated principal and accrued interest to be refunded. Then identify likely selling costs and any duty or levy that could apply to your circumstances.
Keep CPF refunds separate from cash proceeds: refunded CPF savings return to the applicable CPF accounts and may not be available on the same day as cash. That timing matters when the sale is funding another purchase.
CPF Refunds and Cash Are Different
CPF Board generally requires the principal used for the property and accrued interest to be returned to the owner’s CPF account from the sale proceeds, subject to the applicable rules and available net proceeds. Check the exact amount in the CPF Home ownership dashboard rather than estimating it from memory. Owners aged 55 or above may also need to consider how refunds interact with their retirement accounts.
SALE PROCEEDS WATERFALL
Follow the money from sale price to usable funds
Each stage answers a different seller question. Work through them in order so later decisions are based on confirmed information.
Estimate Sale Price
Use a realistic range supported by comparable transactions.
Check the Loan
Request the latest redemption or outstanding balance.
Check CPF
Use the Home ownership dashboard for the estimated refund.
Add Sale Costs
Include legal fees, agreed commission and relevant charges.
Review Duties
Check whether SSD or another property-specific amount applies.
Map the Timing
Match completion, CPF availability and next-purchase payments.
OUTCOME MAP
Keep every amount in its proper bucket
Each component has a different job. Treating them as interchangeable hides the risk that matters most.
Check Duties, Levies and Timing
Seller’s Stamp Duty depends on the property, acquisition and disposal dates and the applicable rules. Some HDB sellers may also need to account for a resale levy. Legal fees, mortgage redemption, maintenance or service charges and other completion items can vary. Treat every calculator result as a working estimate until the relevant organisations confirm the figures.
How to Use the Estimate Responsibly
Run at least three versions: a conservative sale outcome, an evidence-based expected outcome and a stronger outcome that still has market support. If the next-home plan works only under the strongest case, the transaction may leave too little room for negotiation, delay or an unexpected cost.
Record the source and date for every input. A portal estimate, old loan statement or remembered CPF figure is not enough for a final decision. Ask the bank or HDB for the relevant loan information, check CPF Board’s Home ownership dashboard and use current official duty guidance. Your lawyer can explain the completion statement and transaction-specific legal deductions.
Then place the figures on a timeline. Note when the option monies are received, when the sale completes, when loan redemption and CPF refunds occur, and when the next purchase requires deposits, duties and completion funds. A positive final balance does not prevent a temporary cash shortfall if the money arrives after it is needed.
Keep the estimate as a living worksheet and update it when the price, offer, completion date or next-home plan changes. Contact Us if you want help organising the sale assumptions before discussing the final figures with the relevant professionals.
Revisit the plan whenever the expected price, ownership details, official rules, financing, completion date or household objective changes. A useful seller plan stays current instead of preserving assumptions that no longer match the transaction.
ILLUSTRATIVE CALCULATION
Build the estimate one confirmed input at a time
The structure below shows how a seller might organise the calculation. It intentionally contains no universal fee assumptions because actual obligations and agreed charges differ.
- Use Fresh FiguresLoan and CPF amounts change over time, so retrieve current values.
- Separate Cash and CPFBoth are part of the outcome, but they are used and released differently.
- Test More Than One PriceRun conservative, expected and stronger-sale scenarios.
- Confirm Before CommittingVerify the estimate before signing for the next property.
Common calculations this page can support
SELLER OUTCOME ROUTER
Use the calculation for the decision in front of you
Scan the rows in order. The right-hand column identifies the action that keeps the plan moving without hiding a material issue.
Selling an HDB Flat
Loan, CPF refund and possible resale levy
Selling a Condominium
Bank redemption, CPF, costs and possible SSD
Selling a Landed Home
Larger values make assumption errors more material
Funding an Upgrade
Work out what becomes available and when
Releasing Retirement Funds
Separate cash proceeds from CPF treatment
Estate Property Sale
Authority, liabilities and distribution are separate issues
Current Singapore Rules Behind the Proceeds Estimate
CPF refund: the required amount is generally the principal withdrawn for the property plus accrued interest, and may include an amount pledged for retirement needs. CPF Board’s Home ownership dashboard provides the current “What Happens If” figure. If the home is sold at market value but the price is insufficient after paying the housing loan, CPF Board states that the seller generally refunds the remaining sale proceeds and does not top up the shortfall in cash. Owners aged 55 or above should also check how refunds first interact with their Retirement Account. See the official CPF refund guide.
Seller’s Stamp Duty: do not apply one holding-period rule to every purchase date. Property acquired on or after 4 July 2025 is subject to a four-year SSD schedule of 16%, 12%, 8% and 4%; property acquired from 11 March 2017 to 3 July 2025 remains on the earlier three-year 12%, 8% and 4% schedule. IRAS uses the higher of the selling price or market value. Confirm the acquisition and disposal dates against the current IRAS schedule.
ABSD belongs in the next-purchase timeline, not as an automatic sale deduction. Buying before selling may make the replacement home an additional property at the point of purchase. Rates depend on citizenship, property count and joint-buyer profile, while remission or refund depends on exact conditions and deadlines. Use IRAS’s ABSD guidance before committing. For HDB resales, HDB also announced electronic payment of cash proceeds for sellers submitting their portion of the resale application from 7 September 2026; review current notices on HDB’s policy-update page.
Run more than one price case using our seller valuation framework and keep a timing buffer if the funds support an HDB-to-condo move or condo-to-HDB transition.
Reviewed on 15 September 2026. Confirm live figures with CPF Board, IRAS, HDB, the lender and the conveyancing lawyer.
Is this result a formal financial calculation? No. It is a planning estimate. Banks, HDB, CPF Board, IRAS, lawyers and other relevant parties should confirm the figures that apply to your transaction. Why is my CPF refund not the same as cash proceeds? Required CPF refunds are returned to the relevant CPF accounts. They form part of the sale outcome but are not automatically paid to your bank account as cash. Where can I check my CPF refund amount? CPF Board's Home ownership dashboard includes a 'What happens if' section that can show the estimated refund for your property. Should I include Seller's Stamp Duty? Include it only if it applies to the property and holding period. Check the current IRAS rules using the acquisition and disposal dates before relying on an estimate. Do all HDB sellers pay a resale levy? No. It depends on the housing subsidies previously received and the next housing choice. Check your specific position with HDB. When should I run the calculation again? Refresh it when the expected price changes, before accepting an offer, and before committing to the next property because loan, CPF and cost inputs can change. Should I deduct renovation for my next home? It is not a deduction from the property sale itself, but it belongs in the wider move budget because it reduces the funds available after both transactions. What if the expected sale price changes? Update every linked figure and payment date. Do not change only the final total; commission, duty or other percentage-based amounts may also change. Can a sale produce little or no cash after CPF refund? Yes, depending on the loan, CPF used, accrued interest, price and costs. CPF Board explains the treatment of refunds and shortfalls under the applicable conditions.Frequently Asked Questions