Asked by Inthira
What is the COV current market price
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1 Answer
Hi Inthira,
1) COV = Cash-Over-Valuation
2) Every property has a market value, not just a price calling by the seller.
3) In Singapore we have a professional valuer who will determine the exact market price for every property based on recent transactions around that property.
4) If this is the first property that is needed to determine a market value, the valuer will determine the market rate based on
(a) Connectivity: distance to MRT station, Bus interchange, etc convenience to public transport.
(b) Amenities: distance to wet market, eateries, supermarket, post office, retail shops, etc, all the basic needs for daily life.
(c) Schools: distance to primary/secondary school
5) But it is impossible for a layman to understand what is the exact value of his unit. Thus he might be based on advice from agents, friends, relatives, etc, and decided to sell at "X" price.
6) A valuation will be needed when the buyer needs to utilize his CPF or acquire financial assistance from banks or HDB.
7) So when "X" - valuation value = "Y"; "Y" will be the COV.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
Note:
Any response to our answer does not reach us until we scroll through each and every query posted daily.
The best way to get a follow-up is to Whatsapp or email us directly. Read More
1) COV = Cash-Over-Valuation
2) Every property has a market value, not just a price calling by the seller.
3) In Singapore we have a professional valuer who will determine the exact market price for every property based on recent transactions around that property.
4) If this is the first property that is needed to determine a market value, the valuer will determine the market rate based on
(a) Connectivity: distance to MRT station, Bus interchange, etc convenience to public transport.
(b) Amenities: distance to wet market, eateries, supermarket, post office, retail shops, etc, all the basic needs for daily life.
(c) Schools: distance to primary/secondary school
5) But it is impossible for a layman to understand what is the exact value of his unit. Thus he might be based on advice from agents, friends, relatives, etc, and decided to sell at "X" price.
6) A valuation will be needed when the buyer needs to utilize his CPF or acquire financial assistance from banks or HDB.
7) So when "X" - valuation value = "Y"; "Y" will be the COV.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
Note:
Any response to our answer does not reach us until we scroll through each and every query posted daily.
The best way to get a follow-up is to Whatsapp or email us directly. Read More
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