This is so we can prudently use the money we have for financial planning purposes - investing, buying another property, even starting a business or promising to pay for your children's education.
Often, people receive less in cash than they had expected for various reasons.
If they commit to using the bulk of that money for other purchases or investments, they may be in for a rude shock after seeing the cash balance in their bank accounts.
If they commit to using the bulk of that money for other purchases or investments, they may be in for a rude shock after seeing the cash balance in their bank accounts.
Things to consider before selling my home
We will not delve too deep on what goes on from a transaction standpoint. Rather our focus will be on the money.
There are several steps to selling your HDB, first of all, you should know if you have fulfilled the MOP (Minimum Occupation Period) before you engage an agent or go about selling your home on your own.
If you're selling a private property, you have to consider the Seller's Stamp Duty (SSD), which applies to sellers who are offloading their property within three years of purchasing it.
Read further for more details at : http://news.asiaone.com/news/business/what-happens-your-money-after-you-sell-your-flat-singapore