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Hi,

Do you mean the sale cash proceeds? In a typical transaction, it will be issued in a joint name cheque and can only go into a joint bank account.

May I have more info and requirements about your plans so as 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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Before contacting Ivan Ng, our Property Realtor, we were quite apprehensive about our Contra-deal ( concurrent resale & purchase of HDB flats) as at that time the outlook of the resale property market was quite sluggish & pessimistic. But surprisingly our property realtor, Ivan , was able to put us at ease with his professional competence, astute work experience & friendly nature . He was able to consummate our contra-deal within one month of our HDB application. Now we are convinced by his promise that (in Ivan's own words) ... "A contra-deal is where the sale & purchase transactions are done concurrently and completed on the same day. This results in a seamless transition of the funds from your sale proceeds and CPF proceeds towards your purchase price." More importantly Ivan has also managed to clinch a good deal for our contra-deal. We'll certainly recommend him to our kins & friends. Thank you very much, Ivan. We are definitely your satisfied customers! Read More

Hi Anson,

COV are not paid like the way you mentioned. The financial sums will be done based on your selling price (which includes the COV), minusing off the outstanding loan and the CPF utilised for this HDB including the accrued interest. This balance amount, which we term it as cash proceeds in the form of a cashier's order will then be paid out to the owners on completion day. For joint owners, you will need to have a joint bank account for the proceeds to be banked in.

In terms of split, it will be down to the owners to work it out among themselves. If you prefer to have the amount split up, then you will need to do the conveyancing using a private lawyer which is more expensive and give instructions to the lawyer to how the cash proceeds should be split.

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

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Warmest regards,
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Hi, appreciate your sharing. HDB will create a completion account and show the breakdown and issue cashier order for seller.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, COV will be added in to the final sale proceeds and there be a single cheque under joint owner to be issued.

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

Hi Anson,

1) The cash proceeds could be split between owners only under the following conditions:
(a) You had engaged a private lawyer on the conveyance process and you had instructed them to do so.
(b) The property was held under Tenancy-In-Common ownership, and you instructed the private law firm to split the proceeds accordingly.

2) When you engaged the HDB lawyer on the conveyance. You will only receive a single cashier order bearing all owners with COV and the remains after deducting the outstanding loans and returning to the CPF.
3) All owners have to open a joint account to deposit the cashier order. You have to split the proceeds among each other under a private arrangement.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

I hope the above answers your main concerns, but if there are more queries, 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 
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https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer Read More

Legal and Financial Advice: It's advisable for co-owners to seek legal and financial advice to establish clear agreements regarding the payment of COV and to ensure that their interests are protected throughout the resale process.

Ultimately, the specifics of how COV is paid to the seller and split between co-owners will depend on the arrangements made between the parties involved in the resale transaction. Read More

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Hi Anson,

COV forms part of the sale proceeds, it may not be paid out in Cash if the sales is a negative sale. What is the manner of holding for the HDB flat?

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More

WhatsApp me at: ABLE Toh (65) 9856-9255  or through this link.:https://wa.me/6598569255
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like renting / selling, buying / or investing, I'm here to help!
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For PRIVATE Home Buyers, I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge (Because Most PRIVATE seller Agent are willing to share commission with Buyer Agent)

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: (65) 9856 9255  or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT : ）
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”

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