HDB resale: Parties must agree on price before valuation – TODAYonline

SINGAPORE — With effect from yesterday, buyers and sellers of Housing and Development Board (HDB) resale flats will have to agree on a price before getting an official valuation, in contrast to the previous long-standing practice where negotiations were determined by a unit’s valuation report and how much a buyer was willing to pay above valuation.

Until recently, when cash-over-valuation (COV) premiums started to fall, there had been calls for the Government to scrap the practice where sellers obtain a valuation report for their flats and use it as a base price to negotiate with buyers on the final amount which the latter is prepared to pay above the valuation. But Mr Khaw had previously pointed out that COV is a decision made between buyer and seller, and scrapping it would only lead to “under-the-counter” deals.


Our Opinion : HDB launch NEW HDB De-cooling measures to stablise market. Mortgage Supermart Singapore

See on http://www.todayonline.com/singapore/hdb-resale-parties-must-agree-price-valuation

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s