7 Answers

askguru expert
Hi there, thanks for writing to us on AskGuru.

The buyers can check the status of the Request for Value from the HDB Resale Portal. HDB will inform the buyers via email once the value of the flat is available in the HDB Resale Portal.

There are instances where the valuation and selling price is exactly the same which means there is no cash-over-valuation (COV).

In instances where the valuation is lower than the selling price, then a COV is payable.

Hope this answers your question.

Best Regards,

Team PropertyGuru Read More

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Nick Tan
Dear Sir/Mdm,

For most sale cases, the valuation either matches the sale price or could be lower than the sale price. If valuation is lower, then there is a component of Cash Over Valuation (COV). I have personally transacted many HDB units and so far have not encountered any cases when the valuation is higher than the sale price.

Please feel free to contact me so that I can understand your situation better and provide you with further assistance.

Regards,
Nick Tan
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Ivan Ng
Hi,

All of the cases I have transacted either shows valuation at agreed sale price, or valuation below agreed sale price. If valuation is lower, there will be a Cash over Valuation (COV) component, where buyers need to come up with cash top up.

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 Realtor
ERA Senior Marketing Director
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Aaron Chong
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, it could happen too for the valuation to be the same as the selling price.

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

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Robbie Chen Chee Howe
Hi,

In my many HDB transactions so far (ever since the rules changed in March 2014), I had never come across Valuation to be higher than the Selling price.

The best case scenario would be the Valuation match the Selling price, which would suit the Buyers well, provided the Sellers get their desired price too.

In the event of the Valuation falls below the agreed price, then the Buyer will have to decide if they are willing to pay the COV and exercise the OTP.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

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

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Gavin Ng
Hi

You may text 9620 0827 for a casual chat. We can share with you about COV, transaction process & timeline together with an estimated financial statement.

Regards

Gavin Read More

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Ling CK
Hi,

1) There were times when the selling price is so much lower than the valuation. I had come across it twice.
2) This is very rare, usually happened to direct family buying and selling, e.g. parent sell to their son/daughter or vice versa.
3) Under such cases, HDB will further investigate the reason before giving approval. This process will take longer to complete. This is the main reason why there is an "approval" process under the HDB buy/sell process.
4) We might come across this when checking past transactions; when a higher floor unit transacted price is so much lower than the lower floor unit. So unless closely related, this will not happen to a normal buy/sell situation.
5) Valuation and Selling price matched is the most common in the past 6~7 years HDB market. A small number of Valuation lower than selling price. This is when Cash-Over-Valuation happened. A figure will indicate in the valuation report to state the exact value, so as there is no confusion to the buyer on the valuation value. For example, some selling price was $388,888. If valuation matched, this $388,888 will be written on the valuation report.

Hope the above answer to your main concerns, but if there are more query, 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
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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