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Dear Madam/Sir,

I need your advice on the following matter.

As per current HDB resale procedure, HDB will only send the valuation report to the buyer and the seller is not being make aware of the valued price.

My question is if the selling price is higher than the valuation price, the buyer is supposed to pay the difference in cash to the seller as COV, but if the seller does not have any information on the outcome of the valuation report, how can the seller ask the buyer to pay him?

May I have Your advice please
Thank you
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3 Answers

Good evening,

You might have gotten the facts slightly out. During a resale transaction, the buyer or their agent will need to submit the case via HDB website. They will then be required to key in the resale pricing and valuation pricing. If there is any COV, this sum is paid to HDB which will then be paid to seller, together with the proceed. if the case is a positive sales.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA

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