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Hi,
I interest to buy one 4-room hdb resale where seller ask for 420,000. However I only have cash 5000 to pay for the option fee. Will there be any COV incur where I have to fork out additional cash if the valuation happen to be below 420,000?

At present I have 160,000 OA and hdb loan has approve of 270,000.
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2 Answers

Dear sir/madam,

You are not the only prospective buyer with such a concern, therefore it is advisable to pore through all the past transactions that are relevant in order to determine how likely is the $420,000 to be above valuation. No one will be able to tell whether such a scenario will happen and your only option in such a scenario is to allow the initial deposit amount of up to $1,000 be forfeited if the valuation indeed is much lower than the agreed price where the COV portion with outside your affordability.

I have been in the real estate business since 2009, with more than 10years 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 clients’ 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
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
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[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Hi, thank you for reaching out.
Can I get the address of the property you are buying? Give me a call/text at 94508732  .
Hope to hear from you soon.

With regards,
Andik Imran
PropNex Realty Pte Ltd
(M) +65 9450 8732 
(E) andikimran@realestatedad.sg
Learn more about me : https://realestatedad.sg/andik-imran/ Read More
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