In Singapore, the buyer typically obtains a valuation report from a bank or financial institution for loan purposes. This report is confidential and not usually shared with the seller. However, there are ways for a seller to get an estimate of their flat's valuation:
1. **HDB's Past Transactions Data:**
You can refer to HDB's Resale Flat Prices portal to check recent transacted prices of similar flats in your area. This can give you a good indication of the market value for your flat.
**Website:** [https://services2.hdb.gov.sg/webapp/BB33RTIS/](https://services2.hdb.gov.sg/webapp/BB33RTIS/)
2. **Property Portals and Valuation Tools:**
Many online property portals like PropertyGuru, 99.co, and SRX offer free valuation tools. These tools use algorithms and data analysis to estimate your property's value.
3. **Engage a Property Agent:**
A property agent can provide a more accurate valuation based on their experience and knowledge of the local market. They have access to recent transaction data and can compare your flat to similar properties.
4. **Directly Ask the Buyer (Not Recommended):**
While you can technically ask the buyer for their valuation report, it's not common practice, and they are not obligated to share it with you. It might even create unnecessary tension in the negotiation process.
5. **Requesting from HDB (Not Possible):**
HDB does not provide valuation reports to sellers. The valuation is conducted for the buyer's loan application, and the information remains confidential.
**Recommendation:**
The best way to estimate your flat's value is to combine information from various sources:
* **Check HDB's past transactions data.**
* **Use online valuation tools.**
* **Consult with a property agent for a professional opinion.**
By using these resources, you can get a good understanding of your flat's market value and make informed decisions during the negotiation process.
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