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Re: Buying a resale HDB

Besides the COV, if I plan to pay more cash up front & reduce the loan amount, does it mean that the seller will also get more cash up front and hence the possibility of negotiating a lower selling price?
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1 Answer

Mike Lim
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Afternoon R. Lim,

COV means Cash Over Valuation, and Purchase Price is made out of Valuation plus COV. Bank or HDB will only loan you based 80% or 90% of Valuation, respecitvely, with conditions applied. If you do have the intention to pay more cash, that would only help to reduce you loan amount and monthly installment.

If you do have more enquires and would like to engage some advice, do feel free to contact me.

Mike Lim
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