Question On Cash Over Valuation And Agent Fees

[eric1lyk 0]

Hi,

I am buying a resale flat and have some questions about Cash Over Valuation and Agent Fees.

1. When do I need to pay Cash Over valuation?
   Is it partial in 1st appointment, followed by remaining in completion?
   
2. Does my OTP and Deposit cover the Cash Over Valuation portion?
   e.g. COV = 4,3000, and I already paid 1,000 OTP and 4,000 deposit.
   That means I need to pay remaining = 43,000 - 5,000 = 38,000?
   
3. When do I need to pay agent fees? Is it at completion? Or after completion?
   

[venom 1]

bro,you post @ wrong section liao.

This section is for buy/sell/Exchange Corner

[bepgof 20]

Hi,

I am buying a resale flat and have some questions about Cash Over Valuation and Agent Fees.

1. When do I need to pay Cash Over valuation?
   Is it partial in 1st appointment, followed by remaining in completion?
   
2. Does my OTP and Deposit cover the Cash Over Valuation portion?
   e.g. COV = 4,3000, and I already paid 1,000 OTP and 4,000 deposit.
   That means I need to pay remaining = 43,000 - 5,000 = 38,000?
   
3. When do I need to pay agent fees? Is it at completion? Or after completion?
   

Post at "wrong" place, don't worry, here come the replies:

1. All $$$ transaction only at 2nd appointment.

2. Option fee(1K) & option exercise fee(4k) are CASH, constitute to part of COV.

3. "Usually" at end of 2nd appointment when agent's service deems complete. Don't pay agent at any time earlier than 2nd appt, u should know why by now.

Seem like u not familiar with rules of the game, very dangerous lai. Underground bombs everywhere, u might pay one hand or one leg to learn the game.

[eric1lyk 0]

Post at "wrong" place, don't worry, here come the replies:

1. All $$$ transaction only at 2nd appointment.

2. Option fee(1K) & option exercise fee(4k) are CASH, constitute to part of COV.

3. "Usually" at end of 2nd appointment when agent's service deems complete. Don't pay agent at any time earlier than 2nd appt, u should know why by now.

Seem like u not familiar with rules of the game, very dangerous lai. Underground bombs everywhere, u might pay one hand or one leg to learn the game.

Thanks so much.

Didn't notice that i posted at wrong section, i try if i can move this post

[eric1lyk 0]

Hi,

I am buying a resale flat and have some questions about Cash Over Valuation.

1. When do I need to pay Cash Over valuation?
   Is it partial in 1st appointment, followed by remaining in completion?
   
2. Does my OTP and Deposit cover the Cash Over Valuation portion?
   e.g. COV = 4,3000, and I already paid 1,000 OTP and 4,000 deposit.
   That means I need to pay remaining = 43,000 - 5,000 = 38,000?
   

[eric1lyk 0]

Hi,

I am buying a resale flat and have some questions about Cash Over Valuation.

1. When do I need to pay Cash Over valuation?
   Is it partial in 1st appointment, followed by remaining in completion?
   
2. Does my OTP and Deposit cover the Cash Over Valuation portion?
   e.g. COV = 4,3000, and I already paid 1,000 OTP and 4,000 deposit.
   That means I need to pay remaining = 43,000 - 5,000 = 38,000?
   

Post at "wrong" place, don't worry, here come the replies:

1. All $$$ transaction only at 2nd appointment.

2. Option fee(1K) & option exercise fee(4k) are CASH, constitute to part of COV.

3. "Usually" at end of 2nd appointment when agent's service deems complete. Don't pay agent at any time earlier than 2nd appt, u should know why by now.

Seem like u not familiar with rules of the game, very dangerous lai. Underground bombs everywhere, u might pay one hand or one leg to learn the game.

Thanks so much.

[yhliang 1]

Sorry, Thot COV must be pay within 10 days after 1st appointment If its less than 10 % of the flat price?

[beluga 1]

I just completed my transaction with COV of 37K, loaning from HDB. I didn't have to fork out any cash first during 1st appt. Everything offset swee-swee for me. Perhaps if you loan from bank need.... Dunno.....

[albertchng 0]

COV is pay at 2nd appointment.

[therat 18]

I just completed my transaction with COV of 37K, loaning from HDB. I didn't have to fork out any cash first during 1st appt. Everything offset swee-swee for me. Perhaps if you loan from bank need.... Dunno.....

COV need to pay by hard cash regardless swee or not swee

[beluga 1]

COV need to pay by hard cash regardless swee or not swee

I mean, 1st appt no need to pay first. Only 2nd appt....

[yhliang 1]

Oh, Ok, Guess my agent gave me wrong info. My 1st Appt next week. Thanks

[yhliang 1]

For info Today I Went for the 1st appointment. I'm required to pay the cov within 10 days of 1st appt.I just paid the cov and hunded plus admininstration fees. so guys n gals,1st appt u must be prepared to pay certain amount of cash.I don't know is it different with Contra

Ouote from hdb website

Determine the amount of cash that you need to pay within 10 days from the date of the first appointment, if any

Cash payment is required when the purchase price is above the market valuation or when the loan granted (with credit assessment) and the CPF usable for the purchase are insufficient to cover the purchase price. If the cash payment required is more than 10% of the purchase price, you are only required to pay 10% within 10 days from the First Appointment date. The balance must be paid on the resale completion. If the cash payment required is less than 10%, this amount must be paid within the 10 days period.

The balance cash payment to be paid on resale completion must be in cash or cashier's order.

Edited March 21, 2012 by yhliang

[weezersg 5]

At which point do we have to pay the agent? the fees?

[bepgof 20]

At which point do we have to pay the agent? the fees?

When service deems complete. 2nd apt, in S'pore property market context.