02/12/2024
From COV to Zero: A Major Twist in My Colleague's Home Buying Story!
A colleague of mine recently reached out after hearing about my transition to becoming a real estate agent. She wanted advice on buying a home. I told her the first step was to apply for the HFE (Housing Grant Eligibility), as it would help determine her budget and guide us in selecting a convenient location. Amazingly, her HFE approval came through in less than 24 hours—super efficient!
When we met, she admitted that she had consulted two other agents before, but ultimately felt I was more trustworthy. Perhaps our friendship also played a role, so she entrusted me with this significant life decision. I was deeply grateful and felt a strong sense of responsibility.
We focused on her preferred area— —and began the search. After viewing 9 properties, we finally found one that checked all the boxes. Here’s why it stood out:
1. High floor with excellent views and natural light.
2. Open layout with no obstructions in the living room and bedrooms.
3. Quiet environment, far from main roads.
4. Future MRT development nearby, offering great potential for appreciation.
5. Well-renovated, almost move-in ready.
6. Open kitchen with a smartly designed sliding door.
7. Ideal distance between neighbors, ensuring privacy.
During negotiations, we offered a reasonable price, but I estimated a 50% chance of encountering COV (Cash Over Valuation). Despite this, it was the best option available. After thorough discussions, we decided to proceed. As anticipated, COV did come into play, which was disappointing.
However, we didn’t give up. I engaged in lengthy discussions with the seller, successfully negotiated a price reduction, and we proceeded with a second OTP. This time, luck was on our side—no COV, and everything went smoothly!
This journey, from stress to success, truly felt like a “turnaround story.” Congratulations to my colleague and her husband for finally owning a home after years of hard work in Singapore. No more worries about rent—it’s a fresh start in their new home!
I’m incredibly grateful for their trust. Out of 30,000 agents, they chose me! This trust motivates me to provide the best service possible. I hope my experience can help more people achieve their dreams of owning a home and building a better future.
