For HDB resale flat, you can only get a valuation once the buyer confirms his or her interest in your flat. After the buyer pays you the option fee of an amount not exceeding $1,000, you then issue an Option to Purchase (OTP) form after 7 days from the date of the Resale Checklist. The buyer then submits the OTP to HDB to request for a valuation. An assigned valuer will then inspect the HDB flat to determine its valuation. To check the market value of resale HDB flats in your area, you can click on the following link: https://services2.hdb.gov.sg/webapp/BB33RTIS/BB33PReslTrans.jsp: For more information, please refer to the following link https://www.propertyguru.com.sg/property-guides/hdb-valuation-sales-12882. Y
For a private property, the buyer forks out the valuation fee for the property appraisal done on request of the mortgagee bank, and/or CPF Board (if CPF savings is used to purchase the property). In general, for private residential and non-residential properties, the valuation fee is between $400 and $500 but it could be higher in some cases when the licensed appraisers are required to perform more tasks related to the appraisal, for example, floor space measurements. Some lending banks absorb the valuation fees on the conditions that there is to be no full resumption before the loan matures.
Hope this answers your question.
Team PropertyGuru Read More
Valuation of a private property can be done by engaging a property valuer to visit your place at a cost to evaluate the property. Alternatively, if you are only looking at an indicative valuation, simply sms your property full details to me and I can get it sorted out for you.
For resale HDB, your valuation report will only be done upon securing an offer from your prospective buyer, where assigned valuer will visit your property for assessment, if buy requires to take up a housing loan. Otherwise there is no valuation required. All HDB valuation costs shall be borne by the purchaser.
Do you have any further questions which I may assist?
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