Cash Over Valuation (COV) for HDB Resale Flats in Singapore: How Much Cash Do You Need?
If you agree to pay more for an HDB resale flat than HDB’s valuation, the difference is cash over valuation (COV). You must pay that difference in cash: CPF Ordinary Account savings cannot cover it. The valuation can also limit the amount you can borrow, so work out your total upfront cash and CPF needs…