Selling & Exit Strategy
How to sell your condo: net proceeds, commission, SSD explained
By Winfred Quek · 11-minute read · Last reviewed May 2026
Facts verified: May 2026 · Sources linked below
Key Takeaways
- • Net proceeds = sale price − outstanding loan − CPF refund (principal + 2.5% accrued interest) − agent commission − SSD if applicable − legal fees.
- • The CPF refund is not lost money: it returns to your CPF Ordinary Account if you are under 55, or tops up your Retirement Account if you are 55 or older.
- • According to IRAS, SSD on residential property bought on or after 4 July 2025 is 16% / 12% / 8% / 4% / 0% across a holding period of up to 1, 1 to 2, 2 to 3, 3 to 4, and over 4 years.
- • Singapore has no general capital gains tax on property; a gain is taxed only if IRAS deems the activity trading under the badges of trade.
- • Commission rates are negotiated between you and your agent; there is no government-fixed rate, so confirm the rate and scope in writing before you appoint.
Most condo sellers focus on the sale price. The number that actually matters is the cash, and CPF balance, you are left with once every deduction has run. I have sat with owners who were thrilled by an offer and then surprised at the completion table. This article walks the full process and shows you, line by line, how to calculate your true net proceeds before you ever sign a marketing agreement.
What are the steps to sell a condo in Singapore?
The private resale process is well defined. Here is the sequence.
How do I calculate my net proceeds?
This is the part owners get wrong. Net proceeds are the sale price minus five deductions:
- Outstanding bank loan. The remaining principal on your mortgage, which your lawyer redeems at completion from the sale proceeds.
- CPF refund. If you used CPF for the purchase, downpayment, or instalments, you must refund the CPF principal used plus the accrued interest. Accrued interest is the interest that money would have earned in your CPF account, at 2.5% per year, compounded. According to the CPF Board, this refund goes back into your CPF account, not your pocket: to your Ordinary Account if you are under 55, or to top up your Retirement Account if you are 55 or older.
- Agent commission. Negotiated with your agent. There is no government-fixed rate. The commission plus prevailing GST is deducted at completion.
- Seller's Stamp Duty (SSD), if applicable. If you are still inside the 4-year holding window, SSD applies.
- Legal fees and disbursements. Your conveyancing lawyer's fee for handling the sale.
The SSD schedule
According to IRAS, for residential property bought on or after 4 July 2025, SSD is charged on a 4-year holding period:
| Holding period | SSD rate |
|---|---|
| Up to 1 year | 16% |
| More than 1 year, up to 2 years | 12% |
| More than 2 years, up to 3 years | 8% |
| More than 3 years, up to 4 years | 4% |
| More than 4 years | 0% |
SSD is charged on the higher of sale price or market value. Confirm your purchase date and applicable schedule with IRAS or your lawyer.
A worked net-proceeds example
Take an owner selling a condo for $1.5M. They bought it about five years ago, so they are past the SSD window. Here is how the figure resolves.
| Line item | Amount |
|---|---|
| Sale price | $1,500,000 |
| Less: outstanding bank loan | −$700,000 |
| Less: CPF refund (principal used + 2.5%/yr accrued interest) | −$380,000 |
| Less: agent commission + GST (rate as agreed) | −$32,700 |
| Less: Seller's Stamp Duty (held over 4 years, so 0%) | $0 |
| Less: legal fees and disbursements | −$3,000 |
| Cash in hand at completion | $384,300 |
| Plus: CPF refund returned to your CPF account | +$380,000 (into CPF, not cash) |
Illustrative 2026 example. Loan balance, CPF used, and commission are specific to each owner. The commission figure shown is an arithmetic placeholder, not a quoted rate; confirm your own figures.
Two things to notice. First, the $384,300 of cash is far below the $1.5M headline. Second, the $380,000 CPF refund is not gone, it is sitting in your CPF account ready to fund your next purchase, so for an upgrader the relevant number is cash plus usable CPF.
What about the commission?
There is no government-mandated commission rate in Singapore. The rate is what you and your agent agree, and it is set out in the estate agency agreement before any marketing begins. What you should expect for the fee is a defined scope: professional photography, listing across the major portals, viewing management, qualified-buyer screening, price negotiation, and coordination through to completion. Get the rate, the GST treatment, and the deliverables in writing. A clear agreement protects both sides.
Winfred's Take
The first thing I do with a selling client is build the net-proceeds sheet, before we talk asking price, before we shoot a single photo. The reason is simple: a seller who knows their true number negotiates from strength and never gets ambushed at completion. The CPF refund is where most people are caught off guard, they see the loan come off and forget that the CPF principal plus years of 2.5% accrued interest also has to be returned. It is not lost, it goes back into your CPF, but it changes how much cash you actually have for the next move. Know your real number first. Everything else in the sale gets easier.
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Winfred Quek · CEA R073319H · Crestbrick
Frequently asked questions
Do I get the CPF refund as cash when I sell?
No. According to the CPF Board, the CPF principal you used plus accrued interest is refunded into your CPF account, your Ordinary Account if you are under 55, or your Retirement Account if you are 55 or older. It is available for your next home or for retirement, but it is not paid out as cash at completion.
How much is Seller's Stamp Duty on a condo?
It depends on your holding period. For residential property bought on or after 4 July 2025, SSD is 16%, 12%, 8%, 4%, then 0% for holding periods of up to 1, 1 to 2, 2 to 3, 3 to 4, and over 4 years. Hold past four years and SSD is nil.
Is my profit from selling the condo taxed?
Singapore has no general capital gains tax on property. According to IRAS, a gain is taxable as income only if your activity amounts to trading, assessed using the badges of trade. A long-term owner selling a home is not normally in that position.
How long does it take to sell a condo?
From listing to completion typically runs around 10 to 14 weeks. The OTP-to-completion leg alone is usually 8 to 12 weeks, set by the buyer's financing and conveyancing.
Can I sell my condo with the bank loan still outstanding?
Yes. Your lawyer redeems the outstanding loan from the sale proceeds at completion. If your loan is still within a lock-in period, check whether a redemption penalty applies and factor it into your net-proceeds calculation.
Sources & References
Winfred Quek is an Associate Marketing Consultant at Crestbrick Pte Ltd (CEA Licence L31010886H), advising Singapore upgraders, investors, and family offices. CEA R073319H. The information on this page is general and does not constitute financial, investment, tax, or legal advice.