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Hi,

It's generally the same. Only difference is for HDB, valuation will be from HDB's panel of Valuers, while for private, it will be from your mortgage bank's panel of Valuers.

Private resale condo purchase does have a chance of having COV, especially if the Buyer is not well-informed on the market transaction and end up overpaying for the property.

I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your housing plans. Please get in touch with me for a more in-depth discussion.

Should you need require 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

Hi Sir/Mdm,

Yes private properties can have Cash Over Valuation (COV) too! I have seen $500K COV for a landed property sold before too. Basically the theory is the same as Wirth HDBs.

For private properties, usually what sellers can do is to get a bank indication from banks and we can price the property in accordance to the bank indication taking into consideration the marketing strategies being planned. For the buyers, they can also get their bankers to give them an indication of the property before they offer the house. If the bank indication can match the agreed selling price, then chances are when the actual valuation is done, it will be able to match.

I hope this answers your question but if you have anymore questions, do feel free to contact me for a chat. No worries there are no obligations at all. Can just have a chat no worries. Haha.

Looking forward to hear from you soon! Cheers!

Best Regards,

Jeffrey Heng
Associate Executive Director (Sincerus Division)
OrangeTee and Tie Pte Ltd
NAVIS Living Group - The fastest growing group in OrangeTee that believes in Technology, Training & Teamwork (3Ts)

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Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead. By the way, yes COV applies to private property too but for now till the property market recovers, it is unlikely for serious seller to be asking for COV.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Sir/Madam

I will be glad to assist

I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com
or click here http://bit.ly/2tzIQ1a to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

PropNex Realty Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

Hi Sir
Yes. The procedure is exactly like HDB although the option fee is typically much more than HDB (option fee max $1000 for HDB while private property is max at 1%). As for COV though uncommon, it is possible if you purchase it at too high a price compared to the market rate of neighbouring units. For buyers with limited cash to spare, it is highly advisable to get the indicative valuation from the bank before committing to the purchase. I do provide free service for purchase of private property from personalised consultation, filtering units that match your budget and needs, arrange for viewings, ensuring you never commit to a price higher than its market value, negotiating on your behalf and handling all the purchasing processes. Do contact me at 93375051  for a free and non obligatory discussions on this.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More

Good morning Sir/ Mdm,

Yes there are still transactions with cash over value (COV) for resale private purchase as well.

But not to worry, usually i will seek bank indicatives from at least 3 banks before I advise my clients to make an offer thus the chances of being hit by COV in their purchase is reduced to the minimal.

It's unlike HDB. Bank wont be able to advise whats the estimated valuation thus therefore the chances of paying COV is higher.

Hope my sharing value add in your property needs.

May I know how can I value add further?

#staysafe

YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd

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Greetings from Ohmyhome!

Generally, buyers will check for bankers' valuations and offer within valuation range for private properties. Thus, COV is unlikely as no buyers will offer more than maximum valuation given by bankers.

Should you need further information or assistance, feel free to contact us at 68869009  or WhatsApp us at 97551009  .

We will be most glad to assist.

Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd Read More