HDB Questions
Asked by jas tan 2 May 2024
Going thru 2nd valuation. renego.
already issue 2nd OTP to buyer
usually will the 2nd valuation be the same ast 1st valuation ?
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3 Answers
Aaron Chong
Aaron Chong
Replied 2 May 2024
You should be checking and asking your assisting agent for advice.
Regards
Aaron
9730 ....
aaronchong2774@yahoo.com.sg
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Able S.K Toh
Able S.K Toh
Replied 2 May 2024
The second valuation conducted for your Housing & Development Board (HDB) flat during a renegotiation process with the buyer may or may not be the same as the first valuation. Here are some factors to consider:
Market Conditions: The valuation of your HDB flat is influenced by market conditions, including supply and demand dynamics, interest rates, and economic factors. If market conditions have changed between the first and second valuations, the valuation amount may differ.
Property Condition: Any changes in the condition of your HDB flat between the first and second valuations, such as renovations or repairs, may affect its assessed value. Improvements or deterioration in property condition could impact the valuation outcome.
Comparable Sales: Valuers typically consider recent sales of similar properties in the vicinity (comparables) to determine the market value of your HDB flat. If new comparable sales data becomes available between valuations, it could influence the assessed value.
Valuation Methodology: Valuation is not an exact science, and different valuers may use slightly different methodologies or factors when assessing the value of your property. As a result, there may be variations in valuation outcomes even for the same property.
Negotiation Dynamics: The renegotiation process with the buyer could also impact the valuation outcome. If the buyer presents new information or arguments that influence the valuer's assessment, it may result in a different valuation amount.
Valuer's Discretion: Valuation is ultimately subjective to some extent, and valuers exercise professional judgment based on available data and market insights. While they strive for accuracy and consistency, there may be differences in interpretation or assessment between valuers.
It's essential to discuss any concerns or questions about the valuation process with your real estate agent, who can provide insights based on their experience and knowledge of the local market. Additionally, you may consider seeking clarification from the valuer or obtaining a second opinion if you have reservations about the valuation outcome.
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