If the valuation is lower than the selling price, you will have to top up the difference in cash. This is also known as cash-over-valuation (COV).
Hope this answers your question.
Team PropertyGuru Read More
Should purchaser decide not to proceed with purchase (do not exercise the Option To Purchase), they will stand to lose the deposit (Option money) paid to the seller.
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.
Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.
With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.
We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: email@example.com / firstname.lastname@example.org
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888 [mob] +65 81577565 [LDA] +65 92787772
Note: We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us!
Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.
Visit and Like my facebook page at https://www.facebook.com/GerylLimSince2009/ - Aspiring To Be The Best Real Estate Agent In Singapore
Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/
New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/
My self introductory video on https://www.youtube.com/watch?v=uZ6REQfdGSw
Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More
1) When valuation < selling price, it means = COV.
2) You will have to this amount using cash only. The name Cash-Over-Valuation (COV) is self-explanatory.
3) Seller likes this very much because it means it is selling over the market value.
4) This has become very common since 3 quarter of 2020.
5) This could be caused by more and more DIY buyers in the market that had inflated the price by accepting it without understanding the market rate.
6) A lot of buyers did not aware that they can walk away and went on to exercise the OTP.
7) Some even only know they have to pay cash on this COV on the completion day.\
8) If you are taking a loan from a private bank, you will have to prepare this cash ~3~5 weeks before the completion day.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636, or email: email@example.com if more information is needed.
I'll be glad to assist.
Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly. Read More
In the event that the Valuation is lower than the transacted price, the Buyer will need to top up what we call the "Cash Over Valuation (COV)".
This COV is to be paid in Cash, as the max loan will be based on the Valuation.
Should the Buyer is not able to fork out the Cash or secure a loan sufficient to purchase the property, he will have no option but to forfeit the option fee.
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.
PropNex Realty Read More