AskGuru Q&A Community

Hi,

For your example, yes 5k COV is payable if the buyer chooses to exercise the OTP and proceed with the transaction.

For each OTP issued, there can only be 1 valuation report application and tagged to it. Each valuation report is unique, hence you might get 395k for the current valuation, but the next one that the buyer applies, it might not fetch the same valuation, as there might be new market conditions due to for example, latest recent transactions in the area vicinity.

Re-issuing OTP doesn't necessarily mean things will work in your favour, it just introduces more uncertainty. You might want to consider twice before doing so. Did your agent advise anything similar?

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials) Read More

Hi,

For every OTP, there is a unique serial number, and each valuation is tagged to that unique OTP. By re-issuing a new OTP, you will need to do a new set of valuation.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More