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Good morning! If you realized the valuation is lower than the price you agreed with the sellers, you still have to fork out COV but with the new regulation, you will have to right to choose not to exercise the option by forgoing the $1k option money. Hope it helps! If you need any assistance in your property purchase, feel free to contact me. Cheers! Warmest Regards, YT TAN 陈永达 | ACCA Graduate, RES Senior District Manager R043025D ECG Property Pte Ltd (A Wholly Owned Subsidiary of ECG Group of Companies) Estate Agent no. L3009759F Blk 190 Lorong 6 Toa Payoh #05-508 S (310190) (M): +65 9111 5171  (E): yt.lovelyhomes@gmail.com (W): www.yttan.com (W): yttan.stproperty.com.sg/ (W) www.lovelyhomes.com.sg (W) www.ecgproperty.com Read More

Afternoon, The answer is yes and no. As per indicated on news, buyer and seller need to come to an agreement on the pricing. With the option issued, the buyer or their agent will request for valuation report, with the assistance from board of valuers. If the agreed pricing is at $700k but value turns out at $710k, the buyer do not need to fork out cash. But if the value is out at $690k, then the buyer will have to decide on whether to continue exercise the OTP or not. Hence, if you are looking at $0 COV, it's best to act fast. Regards Mike Lim 96929209  m52i@yahoo.com ERA Read More