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Hi,

For your example, yes 5k COV is payable if the buyer chooses to exercise the OTP and proceed with the transaction.

For each OTP issued, there can only be 1 valuation report application and tagged to it. Each valuation report is unique, hence you might get 395k for the current valuation, but the next one that the buyer applies, it might not fetch the same valuation, as there might be new market conditions due to for example, latest recent transactions in the area vicinity.

Re-issuing OTP doesn't necessarily mean things will work in your favour, it just introduces more uncertainty. You might want to consider twice before doing so. Did your agent advise anything similar?

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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Hi,

For every OTP, there is a unique serial number, and each valuation is tagged to that unique OTP. By re-issuing a new OTP, you will need to do a new set of valuation.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
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Dear Buyer,

Re: Today’s SG Professional Choice- SGAgent.com & SGRealtor.com

Since you as a buyer already submit buyer checklist with the property purchase detail while u signed the OTP with 1K deposit.

You need to info the HDB of the changes of buying price with the amended the original OTP of buying prices with signature of the both parties that all. The HDB officer will assist u accordingly.

Do not reply to this thread as we will not be alerted to any response posted on this thread. Get in touch with me via email or through my mobile.

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