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Just sold my HDB unit. First appt coming up. I read in this forum many things about COV payment. Some experts said seller will receive COV payment (by cash/cheque) from the buyer at first appointment. Some said payment will be received within 10 days from first appt. And some said only upon completion (2nd appt). Can any kind experts please clarify. When will I receive the COV payment? Many thanks!
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1 Answer

Mike Lim
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Evening Sharon,

I believe your first line of enquiry should be your salesperson who should be qualified enough to advise you accordingly. But since you are seeking second opinion here, you should understand that the only monies transaction between buyer and seller is the Option and Exercise fee.

Buyers will pay the HDB their lawyer the balance and you will only receive your cheque on completion date.

FYI
Mike Lim
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