Property Valuation
What is valuation? Â
It is the market price of a property that is valued based on a combination of factors such as the surrounding transacted price, balance lease and renovation/condition of the property. Â
Why is it important?Â
The maximum amount of loan that you will be able to get is based on 75% Loan to Value (LTV) of the valuation. In the event the selling price of the property is higher than that of the valuation, you will need to pay the excess in cash ie Cash over Valuation (COV).Â
How do I know what is the valuation of my property?Â
You may visit HDB / URA website to download the recently transacted pricing of properties near your desired unit for an estimate. Â
In the sale of the resale HDB, upon issuance of OTP, if the selling price is above the recent transactions, a HDB valuer will usually be dispatched to inspect the unit and provide a valuation.Â
Alternatively, feel free to contact me for your property valuation. You will receive 3 valuations across different platforms for comparison. In addition, I will provide a report on the recently transacted pricing of similar units nearby for your reference. Â