Hi,
1) COV is an added bonus that the seller is asking for.
2) Bank and HDB only recognized the valuation value. This is the reason why you saw some answers mentioned "LTV" (Loan To Value).
3) 5K is part of the payment for the house and not counted as part of COV.
4) If the difference between the agreed price and valuation has a wide gap, the buyer has all right to discuss with the seller.
5) This is a fair market, buyer and seller must agree on the price for the product. Buyer can walk away by forfeiting the 1k deposit, and seller only left with 1k and wait for OTP to expire before can issue another OTP.
6) If both buyer and seller can agree on a new price. The seller has to reissue a new OTP after the current OTP expired.
7) Buyer will need to re-submit for valuation and pay the fee accordingly.
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
Note:
Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly.
Read More
