2 Answers

Ivan Ng
Hi,

Yes if agreed price 450k, valuation comes out at 500k, then the transaction will go through at 450k if buyer decides to exercise the OTP. This is considered buying under valuation, no COV is required.

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

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(Client's Testimonials)

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-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --

Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.

Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.

Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.

--- HDB Flat Upgraders Mr. & Mrs. Lee ---

We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

-- HDB 5-rm Sellers Mr. & Mrs. Ting --

We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.

He is hardworking and committed to his work. He puts in great efforts in arranging clients for viewings and kept us updated thereafter. He is ever ready to help and guide us whenever the need arises.

He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.

Thanks, Ivan. Keep up the good work! Read More

0

  • NZ
    thank you for your answer.. i just wanted to know in regards to the pricing, which amount will the buyer be required to pay is it the offer price or valuation price.
Ling CK
Hi,

Congratulations! Although it is not rare but it is still uncommon to purchase a property below valuation.

The final purchase price shall be $450k. No additional cash is needed other than the option (Up to max of $1k) and option exercising fees (up to Max $5k - deposit), that you may or may not have pay.
As long as:
(1) Your CPF is sufficient to cover the 10%-(option + option exercising fees) if you are applying HDB loan,
(2) Or 5%(cash) - (option + option exercising fee) + 15% (CPF or cash) if applying bank loan.

But HDB might query the transaction on why the transacted price is much lower than valuation to ensure there are no foul play.

Hope the above answer to 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
ling.ck7@gmail.com

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0

  • NZ
    thank you so much for your response.. hoepfully i get to settle my house smoothly..