4 Answers

Eric 李清海 Lee
any changes will be a new otp and buying process. www.b1b2.info Read More


Ivan Ng

COV is the difference between valuation and agreed price, and it does not include 5K deposit.
It appears you have quite a number of concerns with the HDB resale procedure. If you wish to have a hassle free transaction, you might want to consider engaging an agent to do a professional job, rather than having one or two minor missteps to cause you to miss out on your preferred unit. The savings will definitely offset the fees. Thanks and hope to assist further.

Warm regards
Ivan ERA
Www.ivanng10.com Read More


Sunil Kumar
OTP fee and ex fee does not come under COV.
COV = agreed price - valuation price.

If any changes, apply for valuation again.

BS Kumar
C&H properties Read More


Ling CK

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

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