First Time Seller Series · Part 1 of 8
Know your numbers before you list your property
By Winfred Quek · CEA R073319H · Published 26 August 2026
Facts verified: 26 August 2026 · Sources linked below
Key Takeaways
- Your sale price is not your money. What lands in your bank account is the sale price minus your loan, minus your CPF refund, minus every other cost.
- The CPF refund includes accrued interest at 2.5 percent a year on top of the principal you withdrew, and it returns to your CPF Ordinary Account, not your wallet.
- HDB flats do not attract Seller Stamp Duty. Private property does, on a sliding scale of 16, 12, 8 and 4 percent if you are inside four years of your purchase date.
- Get your loan redemption figure directly from your bank or HDB. An old mortgage statement is not the real number, since it will not reflect any early repayment consideration.
- A full worked example of net proceeds, with every deduction itemised, sits in our seller net proceeds guide.
This is the first article in an eight part series walking a first time seller through a Singapore property sale, start to finish. Before you think about photographs, viewings or asking price, you need four numbers on paper. Get them wrong, or skip them entirely, and the surprise shows up at the worst possible moment, at the lawyer's table on completion day.
Your sale price is not your money
Most first time sellers do the same mental arithmetic: sale price minus whatever is left on the loan equals profit. That calculation misses at least two large items, and sometimes three. It misses the CPF refund, which includes accrued interest on top of the principal you used. It misses Seller Stamp Duty, if your property is private and you are still inside the holding period window. And it misses the ordinary transaction costs, agent commission, legal fees and any arrears, that come off the top before a single dollar reaches your bank account. None of this is hidden. It is simply not visible until you go looking for it, which is why this is the first thing to do, not the last.
Number one, your outstanding loan
Request the actual redemption figure from your bank, or from HDB if you have an HDB concessionary loan. This is different from the balance shown on your last statement, since a redemption figure includes interest accrued to the exact completion date and, if you are still within your lock in period, an early repayment consideration that is commonly around 1.5 percent of the outstanding amount. Sellers who estimate this number from memory are usually off by a meaningful sum. Ask your bank for a formal redemption statement as soon as you are seriously considering a sale, not after you have already granted an option to a buyer.
Number two, your CPF used and the accrued interest that comes with it
Every dollar of CPF Ordinary Account money you used toward this property, for the downpayment or for monthly instalments, has to be refunded to your CPF account when you sell, together with the accrued interest that money would have earned had it stayed in your CPF at the Ordinary Account rate of 2.5 percent a year. On a flat or unit held for many years, this accrued interest component alone can run into tens of thousands of dollars. Log in to your CPF Home Ownership Dashboard to see the exact principal and interest figures for your specific property, rather than guessing from how much you remember withdrawing.
This refund is not lost. It goes back into your own CPF Ordinary Account and stays available to you, for your next property or for retirement. But it will not land in your bank account on completion day, so plan for it from day one.
Number three, your Seller Stamp Duty exposure
Whether this number applies to you at all depends entirely on what kind of property you own.
| Property type | Seller Stamp Duty position | What actually governs timing |
|---|---|---|
| HDB flat | Not applicable, HDB flats are exempt from Seller Stamp Duty | The five year Minimum Occupation Period, already satisfied since HDB allows you to list |
| Private property, inside 4 years of purchase | Applies on a sliding scale: 16 percent in year 1, 12 percent in year 2, 8 percent in year 3, 4 percent in year 4 | Your original purchase date, from your Option to Purchase or Sale and Purchase Agreement |
| Private property, 4 years or more since purchase | Not applicable, 0 percent | Holding period has cleared the window |
If you own private property, find your original purchase date before you do anything else. It sits on your Option to Purchase or your Sale and Purchase Agreement. If the sale would land inside four years of that date, the Seller Stamp Duty is computed on the higher of your sale price or the property's market value, and it comes off your proceeds in cash at completion.
Number four, your estimated net proceeds
Once you have the first three numbers, the fourth is just arithmetic: sale price, minus outstanding loan, minus Seller Stamp Duty if it applies, minus agent commission and legal fees, minus your CPF refund. What remains is the actual cash that reaches your bank account. Our seller net proceeds guide walks through a full worked example with every line item itemised, worth reading before you settle on an asking price.
What to gather before you list
| Item | Where to get it |
|---|---|
| Loan redemption figure | Your bank, or HDB for an HDB concessionary loan |
| CPF principal used and accrued interest | CPF Home Ownership Dashboard on the CPF website |
| Original purchase date | Your Option to Purchase or Sale and Purchase Agreement |
| Outstanding maintenance or conservancy charges | Your town council (HDB) or MCST managing agent (condo) |
| Latest property tax statement | IRAS mytax.iras.gov.sg portal |
Winfred's Take
Almost every first time seller I meet has a number in their head before they have a number on paper. Usually it is the sale price they have seen a neighbour achieve, minus the loan they remember owing. That is not a plan, it is a guess dressed up as a plan. The sellers who go into a sale calm and in control are the ones who did this unglamorous groundwork first, loan redemption, CPF statement, stamp duty check, before they ever spoke to an agent or looked at a listing photo. It takes an afternoon. Do it before you do anything else.
Frequently asked questions
Do I need to pay Seller Stamp Duty if I am selling my HDB flat?
No. HDB flats are exempt from Seller Stamp Duty because the five year Minimum Occupation Period already does the job of discouraging short term flipping. If you are selling an HDB flat you have satisfied MOP already, since HDB will not let you list before then. Seller Stamp Duty only applies to private residential property.
How do I find out exactly how much CPF I need to refund?
Log in to your CPF Home Ownership Dashboard on the CPF website to see the principal amount withdrawn for the property and the accrued interest that has built up on it at 2.5 percent a year. This is the single most underestimated number in a first sale, so pull the real figure before you rely on any number in your head.
What if my outstanding loan is more than my likely sale price?
This is a genuine risk on a property bought near a market peak or with a small downpayment. Speak to your bank or HDB early, since a shortfall between your sale proceeds and what you owe, plus your CPF refund, has to be topped up in cash before the sale can complete. Run this check before you commit to a price, not after.
Is the CPF refund money lost when I sell?
No. The refund is not a fee, it returns the principal plus accrued interest to your own CPF Ordinary Account. It reduces the cash that lands in your bank account on completion day, but the money remains yours inside CPF, available for your next property or for retirement.
When should I actually pull all four numbers together?
Before you agree to any asking price, and definitely before you grant an Option to Purchase. Once an option is granted you are committed to the transaction, so any surprise in your numbers gets discovered at the worst possible time. Pull your loan redemption figure, CPF statement, stamp duty position and a net proceeds estimate as your very first step.
Want your actual numbers, not a general rule?
Every seller's loan, CPF position and holding period is different. A 30 minute call gets your real redemption figure, CPF refund estimate and net proceeds worked out together, before you commit to a listing price.
Book a free 30 minute call WhatsApp WinfredWinfred Quek is an Associate Marketing Consultant at Crestbrick Pte Ltd (CEA Licence No. L31010886H), CEA Registration No. R073319H. The information on this page is general information only and does not constitute financial, legal or investment advice. Figures reflect published rules as at 26 August 2026 and can change. Always verify your own numbers directly with your bank, HDB, CPF Board or IRAS before making any selling decision.