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Hi,

COV would matter in a sense as you would need to up CASH from your intended agreed price with the sellers. Eg, OTP price 400k, valuation comes up to 380K, TOP up 20k cash would be needed.

Hope this clarifies.

Thank you.

8139 5076
Irfaan Thian Propnex
IrfaanThian@propnex.com Read More

Hi,

1) You are not wrong that if you have sufficient funds to cover the selling price it means that COV will not affect you.
2) The only question is how much cash is needed for this purchase.
3) For example if the COV is $50k, and you only have $40k. Then you can't make up the difference using your CPF. You will still need to use cash to top up this $10k.
4) You may utilize fully your funds in your CPF OA for the valuation value. But all COV must be paid in cash.
5) Final note does not underestimate this COV, because this actually blows up the purchase price. Your buyer will not recognize this COV you had paid In the future.
6) So a careful negotiation in the purchase process is still a crucial process.

Hope the above answer 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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Hi
In a way you are right. However do be careful in your calculation if you are purchasing the bulk of it in CPF. For example you purchased a $400k flat. Valuation comes out to be $350,000 ($50k COV) and you intent to used $370,000 in CPF and $30,000 in cash. In this case, you are only allowed to use $350,000 in CPF and have to use cash of $50,000. I am specialised in HDB transactions adn a vast majority of my buyers managed to purchased a house without COV despite the seller market situation nowadays. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
CEA Reg No: R061607B
Contact No: 93375051 
ERA Realty Network Pte Ltd Read More

Hi,

Yes, you're somewhat right. As long as you have sufficient Cash to make up for the COV portion, you can purchase the flat using both Cash and CPF.

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 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