Cash Over Valuation
First we need to know what is COV? Cash Over Valuation... the amount which is negotiated between Buyer and Seller of HDB resale property apart from Valuation Price given by HDB. This amount will not be covered by housing loan and need CPF cant be used for this part. Must be paid solely paid by Cash. Mainly this amount is for the location and renovation work done by the Seller needless to say if the supply of units are less than the demand then this amount shoots up to even 100k. Eventhough unbelievable there are transactions recorded at high COV amount. To control unnecessary rising in pricing and fluctuation of resale market new cooling measures were introduced time to time by HDB. List of Cooling measures will be discussed in next Blog.
(to be continued)
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Abi. S
M. Sc, M. Phil, Cert in CEA.
Assistant Associate Marketing Manager
CEA Reg. No: R016369H
PropNex Realty Pte Ltd
L3008022J
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