# Selling an HDB flat: how much cash you actually keep

> What happens to the sale proceeds: the housing loan is settled, your CPF is refunded with accrued interest, and what is left is yours. Includes the shortfall rule and where the CPF refund goes.

- Tool: [HDB Sale Proceeds Calculator](https://toolsg.com/en/hdb-sale-proceeds-calculator)
- Language: en (available: en, zh)
- Last verified against official sources: 2026-10-28
- Source site: ToolSG — a planning guide, not official or financial advice. Cite the agencies listed under Sources.

## Key figures at a glance

| Fact | Value | Source |
| --- | --- | --- |
| CPF refund on sale | Principal withdrawn + accrued interest — Plus any pledged amount if you are 55 or older and pledged the property. | [CPF Board](https://www.cpf.gov.sg/member/home-ownership/using-your-cpf-to-buy-a-home/cpf-refund-when-selling-or-transferring-property) |
| If the sale does not cover the refund | Refund = selling price − outstanding loan — No cash top-up is needed when the flat is sold at market value. | [CPF Board](https://www.cpf.gov.sg/member/home-ownership/using-your-cpf-to-buy-a-home/cpf-refund-when-selling-or-transferring-property) |
| Where the refund goes | OA below 55 · RA first from 55 — From 55 the refund first tops up the Retirement Account to the required sum; the balance stays in the OA. | [CPF Board](https://www.cpf.gov.sg/member/home-ownership/using-your-cpf-to-buy-a-home/cpf-refund-when-selling-or-transferring-property) |
| GST on agent commission | 9% — Added by the calculator on the commission you enter. | [IRAS](https://www.iras.gov.sg/taxes/goods-services-tax-(gst)) |

## Where the sale price goes

When you sell, the sale proceeds first **settle the outstanding housing loan**, and the **CPF you used is refunded** before the sale can complete. Selling costs such as agent commission and legal fees also come out of the proceeds. What remains is your cash.

| Item | Source of the figure |
| --- | --- |
| Selling price | Your agreed price, including any option money received in cash |
| Outstanding loan | Your lender's settlement figure at completion |
| CPF refund | Principal you withdrew + accrued interest, from your CPF Home Ownership page |
| Agent commission + 9% GST | Your agreement with the agent |
| Legal and other fees | Your quotes |

## The CPF refund is not lost money

The refund is credited back to **your own CPF**. Below 55 it goes to your Ordinary Account. From 55 it first tops up the Retirement Account to the required sum, and the balance stays in the Ordinary Account. So it is available for your next home or retirement, but it is not cash in hand. The calculator shows both amounts and their total.

## If the sale does not cover the refund

If the selling price after the loan is lower than the CPF refund, you only refund the **selling price less the outstanding housing loan**. When the flat is sold at market value you do not have to top up the shortfall in cash.

## Option money

Option money you receive in cash from the buyer is part of the selling price. It must be refunded to CPF before the transaction completes, so include it in the price you enter.

## Worked examples

| Case | Cash in hand | Back to CPF |
| --- | --- | --- |
| $600,000 sale, $150,000 loan, $230,000 CPF (principal + interest), 1% commission | $213,460 | $230,000 |
| $300,000 sale, $100,000 loan, $230,000 CPF due, no costs | $0 | $200,000 |
| $500,000 sale, $100,000 loan, $180,000 CPF due, $4,000 fees | $216,000 | $180,000 |

## Common mistakes

- **Counting the CPF refund as cash.** It returns to your CPF.
- **Forgetting the accrued interest.** Use the figure CPF shows, not just the principal.
- **Forgetting GST on commission.**
- **Ignoring the pledged amount** if you are 55 or older and pledged the flat.

## Related tools

- [Seller's Stamp Duty calculator](https://toolsg.com/en/seller-stamp-duty-calculator) — SSD if you sell within the holding period.
- [HDB lease and CPF calculator](https://toolsg.com/en/hdb-lease-cpf-calculator) — how much CPF you can use on your next flat.
- [HDB resale levy calculator](https://toolsg.com/en/hdb-resale-levy-calculator) — levy on a second subsidised flat.
- [HDB affordability calculator](https://toolsg.com/en/hdb-affordability-calculator) — what price you can afford next.

## Frequently asked questions

**How much cash do I get when I sell my HDB flat?**

The selling price less the outstanding loan, the CPF refund (principal plus accrued interest) and your selling costs.

**Do I get the CPF refund as cash?**

No. It is credited back to your CPF: to the Ordinary Account below 55, or first to the Retirement Account up to the required sum from 55.

**What if the sale does not cover the CPF refund?**

You only refund the selling price less the outstanding housing loan, and no cash top-up is needed when the flat is sold at market value.

**Is the accrued interest estimated here?**

No. Enter the figure CPF shows for your flat, because CPF calculates it.

**Is GST charged on agent commission?**

Yes. This calculator adds 9% GST to the commission.

**Is this financial advice?**

No. Use your completion statement for the exact figures.


## Sources

- [CPF Board — CPF refund when selling or transferring property](https://www.cpf.gov.sg/member/home-ownership/using-your-cpf-to-buy-a-home/cpf-refund-when-selling-or-transferring-property) — What must be refunded, the shortfall rule and where the refund is credited (page updated 11 Jun 2026).
- [CPF Board — Sales proceeds after selling your home](https://www.cpf.gov.sg/member/infohub/educational-resources/sales-proceeds-after-selling-your-home) — Loan and sale expenses are settled from the proceeds; the CPF refund is made before completion.