When To Get Cov?

[mrprogrammer 0]

Hi,

I am very newbie and would like to seek your opinion that when I should get the COV after 1st appointment?

My current flat's loan was taken from OCBC when I was PR. Now I become Citizen and bought the new resale flat with HDB loan.

Thanks.

[hello88 2]

Hi,

I am very newbie and would like to seek your opinion that when I should get the COV after 1st appointment?

My current flat's loan was taken from OCBC when I was PR. Now I become Citizen and bought the new resale flat with HDB loan.

Thanks.

not too sure if I'm right abt this. If your buyer is getting a HDB loan, then COV would be paid to u during 1st appointment as HDB is acting for them. If your buyer is getting a bank loan, then COV would be paid to u in between 1st and 2nd appointment.

[mrprogrammer 0]

Thanks. My buyer is taking from HDB and contra his old flat and mine.

not too sure if I'm right abt this. If your buyer is getting a HDB loan, then COV would be paid to u during 1st appointment as HDB is acting for them. If your buyer is getting a bank loan, then COV would be paid to u in between 1st and 2nd appointment.

[ahwee 0]

buyer will have to pay to hdb right after the 1st appointment or within the 10days after it. There's a counter at hdb office 3rd level for payment.

HDB will only release the money to seller after the completion of the sale.

cov has nothing to do with the type of loan.

Edited December 26, 2008 by ahwee