The purpose of the getting valuation is mainly due to the needs to assess the market value of the unit.
There are 3 main reasons:
(1) So as to get loan to service the mortgage.
(2) Not to over pay a property
(3) Need to use CPF to pay for the property.
It is a requirement to have valuation when there is a need to use CPF or HDB/bank loan.
Not to over pay a real property when using only cash.
For a resale HDB flat, only valuation conducted by HDB appointed valuator is recognize by HDB.
For a resale private real property, it is only valid by individual bank's panel valuator in order for that bank to approve the loan.
In actual fact, you don't have a choice on which type of valuator to perform valuation, it's mainly dependent on which type of property you are purchasing.
Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636, or email: firstname.lastname@example.org if more information is needed.
I'll be glad to assist.
Any response to our answer do not reach us until we scroll through each and every queries posted daily.
The best way to get a follow up is to whatsapp or email us directly.
There is no need to engage in a valuer for HDB flat, as it will be a waste of money.
According to the new HDB procedures from 1st Jan 2018, upon the OTP, the Buyer should submit for a valuation request (approx $120) to HDB. HDB will then come out with a valuation for the flat, and only that valuation is valid for the purchase.
Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess and share with you the possibilities for you and your partner in the current market.
Propnex Realty Pte Ltd
Thank you for your query!
According to the new HDB procedures from 1st Jan 2018, upon the OTP, the Buyer should submit for a valuation request and thus, HDB will then come out with a valuation for the flat, and only that valuation is valid for the purchase.
Let's speak further at 96659926 to discuss more comprehensively on the crux of your requirements & expectations- to enable me to deliver a more accurate financial projection and breakdown of cash flow for your purchase after understanding your finances succinctly, so as to explore the possible options accordingly at no obligation. I will walk you through the entire purchase- from shortlisting, to negotiation, to establishing loan matters and working out finances (cash/cpf/progressive payment), paperwork, sorting legal matters, providing you with recent up to date transaction caveats for benchmark pricing as well as furnish you with a customized sales report & indicative valuations.
If you are comfortable with my working style, I am more than glad and confident to work for your interest to to guide to you to your ideal property. Visit my website for my recent accolades, awards and testimonials@ www.kumarrai.com.
ERA Associate Division Director
#1 team of ERA in Singapore, Asia Pacific International for 2014/5/6/7
ERA 2015 Q1 Top Achievers (Top1%)
ERA Top Achievers 2013-2017
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award
Overall Top 100 achievers 2014-2016