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when you mentioned cov, it is the cash above the valuation price.
hence, it is cash payable.
www.catherinepang.com Read More

Afternoon,

Purchase price of unit = Valuation plus Cash Off Valuation.
You can only loan based on Valuation price. Hence the COV is purely via cash.
Hope my explanation does clear your doubts.

FYI.
Mike Lim
 96929209 
ERA Read More

Hi,

The selling price is made up of the valuation of the flat + the COV.
eg: sales price of 450k = 400k (Valuation) + 50k (COV)

your bank loan would be granted between 60% to 90% of valuation. this would depend on if you are taking HDB or pte bank loans. and also if you have outstanding mortgage.

COV means Cash Over Valuation. therefore, it would have to be made purely in cash. this would have been factored in to the total lump sum when HDB does their calculation.

Therefore, if you are taking a pte bank loan, the cash components would be the 5% of valuation, COV, HDB admin fees, valuation report, and agent fees.

stamp duties and legal fees can be paid using CPF.

Let me know if I can assist further.

Regards,
Bernard
HSR
 81800030  Read More

I am Sorry that This platform does not allow me to direct contact you.

You can reach me at https://wa.me/6598569255.

Allow me Assist Further Read More