Sep 26, 2010
FINANCIAL QUOTIENT
Er, what is COV?
Where do you see this?
In articles on HDB resale flats and online or classified advertisements.
What does it mean?
COV is short for cash- over-valuation. It refers to the cash amount that buyers typically pay on top of the valuation of an HDB resale flat. It occurs when buyers choose to pay more than the market value of the flats as determined by an HDB panel of independent professional valuers.
COV payments are not compulsory, though they can be the norm in a booming market.
Why is it important?
It affects the price of a resale flat; it has to be paid upfront in cash as the amount the HDB or the banks will lend is based only on the flat's valuation.
So you want to use the term. Just say...
'I am waiting for COV to drop before I go flat-hunting.'
Joyce Teo
Subscribe to:
Post Comments (Atom)
Pre-development Land Investing
In business for over 30 years, success in providing real estate investment opportunities to clients around the world is a simple, yet effective separation of roles and responsibilites. The four pillars of strength guide the land from the research and acquisition, through to the exit, including the distribution of proceeds to our clients ......
To know more how this is really work for you and your clients....
Please contact me Terence Tay @ (+65) 9387-5896 or email : terencetay.kh@gmail.com
To know more how this is really work for you and your clients....
Please contact me Terence Tay @ (+65) 9387-5896 or email : terencetay.kh@gmail.com
Posts
No comments:
Post a Comment