6 Answers

Hi Mdm. Liana,

The COV will be paid by the buyer to HDB. It appears you are trying to find out how much sale cash proceeds to expect? The sale cash proceeds to determine from your sale is as follows:

Sale price minus home loan, cpf refund, agent success fee and legal fees and you will arrive at the sale cash proceeds.
Alternatively you can refer to my video here :)

https://www.tiktok.com/@ivanngrealtor/video/7181515049972813057

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

Warm Regards,

Ivan Ng Realtor
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Ivan was prompt in replying to my endless queries & concerns. He was very attentive to details and he knows my exact 'taste' during the process of house hunting. I would say that my requirement in getting a flat is quite high because i was looking for a flat located near my parent's as well as the MRT station. It impressed me that he could read my mind well which makes the whole transaction alot easier. I also love the fact that he is calm, not pushy & always ensuring me that there are still sufficient time to look out for other available houses. We are so thankful beyond words for his understanding and patience thoroughout the whole process. We managed to sell our BTO with extension & secure a 5 room flat without COV, located near my parent's and a 3 to 5 mins walk to the MRT station. Thank you Ivan for all your effort & for the smooth sailing transaction!

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Hi, COV is paid upon completion date to HDB via cashier order.
Range 600 to 800 with or without aircon and wife.
Welcome any help at 9696 4398  or email stewartlim@hotmail.com

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Hello Mdm Liana,

I have helped many buyers and sellers transact their HDB flats smoothly and get the best price and terms for them.

The COV will be paid to HDB by the Buyer and processed accordingly to the Seller upon completion.

As a buyer, you'll have to pay cash for COV. And do take note, your housing loan and CPF that can be used to buy the house will be based on the valuation, not the purchase price.

As a seller, your sale proceeds depends on your outstanding (if any) home loan, CPF utilized plus interest accrued (to be refunded into your CPF OA)

HDB will then pass you a cheque for the balance sale proceeds, if any, during the resale completion appointment, and arrange for the refund to your CPF account to be made within 7-14 working days.

If you have engaged a private lawyer to act for you, they will arrange the refund to your CPF account.

Still unsure? Text me at wa.me/6583330360 and I can help go through the criteria as well as the financial breakdown for you.

Thanks
Lucas Lim
SUSS Bsc (Marketing), Merit

Contact: (+65) 83330360 
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Hi Mdm Liana,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way for COV matter, the buyer will need to write a cheque and write it payable to HDB.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
0
Hi Mdm Liana,

1) COV usually is to be paid to the buyer.
2) However there are circumstances when it is a negative sale to the seller even though there are COV in the transaction, the COV might be used to pay to the CPF or to the HDB or the financial institution.
3) If you are using the HDB lawyer, the HDB will inform you of the name to be printed on the cashier order.
4) If you are using a private lawyer, the lawyer will inform you of the name to be printed on the cashier order.
5) So the buyer will have to prepare the cashier according to the instructions provided by the relevant party.
6) The amount that going to be paid to the seller will be the selling price - outstanding loan - (CPF + accrued interest), including the COV.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answer your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
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Hi Mdm Liana,

Sellers will get at most $5,000 up front from the buyer, where remaining sales proceeds will be disbursed by HDB upon completion, therefore buyers will be paying excess amount to HDB instead other than up to $5,000 option money that is paid to seller direct.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
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