Positive cash proceeds example – Singapore house for sale/ rent
An example of a positive cash proceeds calculation:- Mr Tan sold his bungalow for $3 million which was bought 5 years ago for $2.5 million. His outstanding mortgage loan is $2.2 million. His principal CPF sum plus accrued interest is $300,000. Estate agent’s commission is 1%. The property tax up to completion is $1,000. The seller’s legal fee is $3,000. How much is Mr Tan’s cash proceeds? Singapore house for sale/ rent.
| Price sold | $3 million |
| Less outstanding mortgage loan | $2.2 million |
| Less CPF used plus accrued interest | $300,000 |
| Less estate agent’s commission | $30,000 |
| Less property tax up to completion | $1,000 |
| Less seller stamp duty | $0 |
| Less legal fees from seller’s lawyer | $3,000 |
| Less maintenance charge up to completion | $0 |
| Cash proceeds | $466,000 |
Positive cash proceeds sale
Positive cash proceeds sale means that the seller enjoys a positive cash proceeds after his sale. The above example is a positive cash proceeds sale of $466,000.
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