AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
hi, I divorced 5 years ago (no kid) and am 40 yrs old.
can you advise me, when we view a house that we like without a valuation first, we place deposit of 1k (buying price is 400k)and when the valuation comes out, it is higher that the agreed price. (maybe 430k)
do I have to pay the differences? (30k on cash or CPF?) if not I will forfeit the 1k. am I right?
0 •
339 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

3 Answers

Aaron Chong
Replied
Hi Cindy, as long as the valuation is higher than the agreed price, then it will benefit you as a buyer. Pls feel free to let me know if you need any assistance.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More
0
Upvote Upvoted
Mike Lim
Replied
Evening,

If the valuation price is higher than the agreed transaction price, you do not need to pay seller the differences since the both of you have agreed on the resale value. However, if the valuation is lower than the agreed price, you will need to prepare additional cash for the difference in value.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
0
Upvote Upvoted
YT Tan (陈永达)
Replied
Good morning Cindy,

If the valuation is equivalent or higher than the agreed price, you are so called purchase a under valued unit which is a good thing as a buyer.

But do take note that you must be a Singaporean citizen to be eligible under the Single Singaporean citizen scheme.

If you need any assistance in your property purchase, feel free to contact me.

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions