Asked by Anonymous
We would like to buy a HDB resale flat that we are fond of it. We have no agent to represent us as we do not find it necessary. We have viewed the house and provide our offer. After a few rounds of counter offering, seller agent suddenly send us a few recent news article about 1 in 3 buyers paying above COV and told us that it will be the trend and property prices will be expected to keep on increasing every month. And told us that they have engaged an "official valuer" and the valuation is at a certain amount and told us that our offer has to be higher than this valuation to be considered.
Understand that it is a willing buyer and willing seller basis, would like to find out if it is right for seller agent to do this or she just been unethical?
My understanding is that HDB valuation final say is when buyer request HDB after OTP. All our research on that property, valuation will only be about 10% lower than the "official valuer". If we follow her, it will be 10% more than valuation for a >$1m property. I know at the end of the day, we can reject the OTP because of the COV but its a waste of time and money.
Understand that it is a willing buyer and willing seller basis, would like to find out if it is right for seller agent to do this or she just been unethical?
My understanding is that HDB valuation final say is when buyer request HDB after OTP. All our research on that property, valuation will only be about 10% lower than the "official valuer". If we follow her, it will be 10% more than valuation for a >$1m property. I know at the end of the day, we can reject the OTP because of the COV but its a waste of time and money.
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