By The Address desk · Last verified 4 October 2026
When you buy a resale HDB flat, HDB checks the price through a Request for Value. The buyer submits it on My Flat Dashboard, or through their salesperson, by the next working day after the option date, with a scan of page 1 of the Option to Purchase. The fee is $120 including GST, and the value is typically ready within 10 working days. That value matters because it sets the ceiling on how much CPF you can use and is the reference for your housing loan. Both are capped at the lower of the price or the valuation. If you agree a price above the valuation, the difference is Cash Over Valuation (COV), and you pay it in cash.
Valuation sounds technical, but it comes down to one practical question: how much of the price can your CPF and loan cover, and how much must come from savings?
Quick facts
- Who requests: the buyer, or the buyer’s salesperson, via HDB’s online systems.
- Deadline: by the next working day after the OTP’s option date.
- Fee: $120 including GST.
- Result: typically within 10 working days, inside the 21-day OTP window.
- What it caps: CPF usage and the housing loan, both based on the lower of price or value.
- COV: any part of the price above the valuation, payable in cash only.
How the check fits the resale timeline
- Buyer and seller agree a price, and the seller grants the Option to Purchase.
- By the next working day, the buyer submits the Request for Value and pays $120.
- HDB’s valuation is usually back within 10 working days.
- The buyer now knows the exact COV, if any, and decides whether to exercise the OTP within its 21 calendar days.
- After exercise, the resale application goes in, and the valuation feeds into the CPF and loan amounts.
Because the valuation arrives inside the option period, a buyer who finds the gap too wide can walk away by not exercising the OTP, losing only the option fee of up to $1,000.
Why COV must be cash
Under the CPF Housing Scheme, CPF cannot be used for any part of the purchase price above the lower of the price or the valuation. The valuation is also the reference HDB and banks use for the loan amount, so the loan is worked out on the lower figure as well. That leaves the COV with only one source: your own cash.
| Scenario | Price | Valuation | Base for CPF and loan | COV in cash |
|---|---|---|---|---|
| Price above value | $650,000 | $630,000 | $630,000 | $20,000 |
| Price equals value | $630,000 | $630,000 | $630,000 | $0 |
| Price below value | $620,000 | $630,000 | $620,000 | $0 |
Worked example: you agree $650,000 for a flat valued at $630,000. The COV is $650,000 − $630,000 = $20,000, payable in cash. If your loan’s limit is 75% of the lower figure, it is worked on $630,000, giving at most $472,500. The remaining $157,500 of the valuation can come from CPF and cash, and the $20,000 COV comes from cash alone. Loan limits depend on your lender and your circumstances; the loan percentages are explained in our LTV guide.
For sellers: what valuation means for you
Sellers do not pay for the Request for Value, but it shapes how many buyers can afford your asking price. A price far above the likely valuation narrows your market to buyers with spare cash. Recent transaction prices for similar flats, which HDB publishes on its resale portal, are the best guide to where valuations are likely to land.
The WahLiao Verdict
Before you agree a price, set aside a cash buffer for possible COV and check recent prices for the same block or street. Submit the Request for Value the next working day without fail, then use the 21-day window wisely: if the COV turns out larger than your savings can bear, losing the option fee is far kinder than stretching for years.
Questions people ask
Can I use CPF to pay COV?
No. The CPF Housing Scheme does not allow CPF to be used for the amount above the lower of the price or the valuation.
Who pays the valuation fee?
The buyer, as part of the Request for Value. HDB’s fee is $120 including GST.
What if I miss the next-working-day deadline?
HDB requires the request by the next working day after the option date. Check with HDB promptly, since a late request can squeeze the time you have to decide within the 21-day option.
Does a high valuation help me?
Not beyond the price. CPF and loans are based on the lower of price or value, so a valuation above the price does not raise them.
Sources: HDB, Request for Value: deadline, fee and timing; HDB, the resale buying process; CPF Board, CPF Housing Scheme limits on price above valuation. The Address explains; it does not advise.
Read next: Buying a Resale HDB Flat · HDB Loan or Bank Loan: LTV, MSR and TDSR · Selling Your HDB Flat · Back to The Address
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