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Hi,

Only buyers with valid OTP issued by sellers can apply for valuation, and yes a HDB appointed valuer will visit the house, who will give an overall assessment of the place and then taking into account all factors (of unit and surroundings) give a professional valuation figure.
All buyers who are using CPF or hdb/bank loan need to apply for valuation.

If you have agreed 800k on price, but valuation comes in at 600K, the difference is the COV buyer has to pay. He may or may not exercise the option to proceed with the sale. But if buyer exercises the option, seller is obliged to sell at 800K.

If priced agreed 550K, valuation comes in at 600K, there is no COV, and seller is obliged to sell at 550K still if buyer exercises the option.

To ensure the price your interests are protected, it is best to work with a realtor who can advise the comparable transactions nearby and facilitate the negotiation process so that you can achieve your desired selling price.

May I understand your housing requirements further? Thanks and hope to have the opportunity to work with you soon.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com Read More

Afternoon,

You are right that only buyers, after securing the OTP with an option fee, can request for valuation. As this have being inked on black and white, the seller will not be able to back out from the deal unless the buyer do not exercise it within 21 calendar days. The buyer, after getting the report, can either decide not to continue with the deal and forgo the option fee or proceed to obtain the loan and exercise accordingly. Valuation report is required if buyers are getting loan or using CPF monies. Financial institutes will only disperse loan based on the valuation figures. With that said, if the seling price is at $800k while the valuation is out at $600k, your buyer must be ready to work on the difference. But if your selling price is at $800k but report is out at $820k, both of you will transact based on OTP pricing.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

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Owners / landlords need property agent in sg ( agt ) to rent out or sale of your property
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