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I understand that if the house i want to buy has a valuation lower than the asking price, i need to pay cash for the difference. My question is, is there any other means to pay the COV other than cash? What if the buyer doesn't have enough cash to buy the house that they already liked? Isn't it fair for buyers to dream of the house they liked but could not get because of the COV?
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4 Answers

Hi, the cov amount is always in cash only.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Dear sir/madam,

Unfortunately, this is the existing policy in place. This is to prevent the property prices from sky rocketing, especially for public housing where the intention is to be affordable for the residents.

This policy in place keeps prospective buyers on the toes when putting up an offer for the property to exercise caution.

I have been in the real estate business since 2009, with more than 10years 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.

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Geryl LIM
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Hi

If you would like to text 9620 0827  , we can share with you our experiences with regards to COV.

Regards

Gavin Read More
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Robbie Chen Chee Howe
Hi,

COV means Cash-Over-Valuation. As the name suggests, it is to be paid in CASH.

In my experience, if the property purchase price is not extremely over the Valuation, chances are the Banks will be able to match the Valuation.

Having said that, there are still some properties which Buyers are willing to pay some COV for. It could be the property's attributes over the other that can justify this COV.

However, should there be a chance that a property is asking way above the Valuation, and that the COV amount is so obscene that you find it hard to accept, then I will suggest you take a step back and walk away from the deal.

I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your home purchase. 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
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