mr funny
27-09-10, 23:07
http://www.straitstimes.com/Invest/Story/STIStory_583126.html
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
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