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Hi I would like to make an enquiry on COV. is COV payment only paid fully cash only? Is there any other alternative methods to pay the home owner the cov that he wants?
An example:
home buyer agrees on paying the seller 10k.
Is it possible for the 10k to be added to the valuation of the house that the home buyer intends to buy and therefore the home buyer need not fork out any cash at all?
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2 Answers

William Koh
Replied
Hi,

Eventually, the COV will be added to the valuation of the house which sum up to the purchase price of the house.

However, the COV has to be paid in full cash.

Cheers,
William Koh
 9027 1972 
willkck@gmail.com
ERA Read More
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  • MA
    Replied
    Oh ok now i understand. Thanks for the reply
Ally Chin
Replied
Hi Azhar

Once a valuation price for a property is decided it cannot be changed. A valuation price is a fixed price but the cov is not and hence it cannot be added into the valuation for the property.

And yes, the cov has to be settled in cash.

Regards
Ally Chin
Propnex Realty P/L
Mobile 811 222 13 Read More
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