Kena Priced Out By FTrash Not PAPee's Fault!

[makapaaa]

MR ADAM TAN, corporate communications manager, PropNex: 'I refer to Ms Leow Bee Geok's letter last Thursday, 'Why was cash over valuation ever introduced?'. Cash over valuation (COV) was never introduced by the HDB or any other official agency but was caused by market forces. As resale transactions take place in an open market, the COV is actually an indication of a property's demand. The COV is basically a premium paid by the buyer to obtain the flat he wants. Buyers who can afford it are, therefore, those who are willing to pay such a premium. In recent months, we have seen transactions with zero and negative COVs, especially for the larger flats, given the turbulent economy. Perhaps Ms Leow might like to consider one of those in her search for a resale flat.'

 

[Tiu Kwang Yew]

MR ADAM TAN, corporate communications manager, PropNex: 'I refer to Ms Leow Bee Geok's letter last Thursday, 'Why was cash over valuation ever introduced?'. Cash over valuation (COV) was never introduced by the HDB or any other official agency but was caused by market forces. As resale transactions take place in an open market, the COV is actually an indication of a property's demand. The COV is basically a premium paid by the buyer to obtain the flat he wants. Buyers who can afford it are, therefore, those who are willing to pay such a premium. In recent months, we have seen transactions with zero and negative COVs, especially for the larger flats, given the turbulent economy. Perhaps Ms Leow might like to consider one of those in her search for a resale flat.'

Ah tan's agent commission is based on Valuation and COV, higher cov means higher commission.

Yes, HDB not the prick of COV but the COV cash(less 5k to seller) is paid to HDB and then processed to pay the seller.

Ah tan saw no cov and negative COvs? What a joke!!!! one in the 100K !!!!helper of the HDB murderer !!!!!