What is The Point of COV When There Already is Market Valuation?
This question was posted at REACH on 28 Mar 2012, 10.39AM What does market valuation of a resale flat do? Surveyors determine the market price of a resale flat by factors such as location of the block, surrounding amenities, level of the flat, interior condition of the flat and special features inside/outside the flat. Seller A asks for COV because he has renovated his flat and he has built a bar counter in his flat. Have the above been covered by market valuation? Seller B asks for COV because his flat location is good, near to MRT, near to bus interchange, schools, shopping malls and plenty of coffeeshops. Have the above been covered by market valuation? Seller C asks for COV because his flat is at the top floor of the block, with incredible view. Have the above been covered by market valuation? Then what is the point of market valuation if COV serves to do what it already is doing? How can HDB allow such a contradiction? This is one reason why HDB resale flat i