hdb valuation need to tell seller agent?

[Blue Blood]

ask u all ah, first time potential resale hdb buyer here. after i get the valuation from hdb hoh, am i obliged the show the valuation report to the seller? or tell them the value of their flat?

hdb site never say such things

 

[cheeky_hippo]

yes, den they will decide if they wanna go ahead with the purchase

 

[NatureKeeper]

No. Keep to yourself. Do not tell.
You (buyer) paid for the hdb valuation after agree with price and getting otp with seller.
It is for your information to see if you can accept the COV (if any)

The current resale market is already on 'daylight robbery' mode
Why give such info to seller/seller agent to give them a chance to cancel/void the current agreement to increase selling price and COV to the next buyer?

 

[Blue Blood]

yes, den they will decide if they wanna go ahead with the purchase

but in this case, im the buyer. the seller dont know their valuation right?

 

[KarmaStrikesBack]

No. You (buyer) paid for the hdb valuation after agree with price and getting otp
It is for your information to see if you can accept the COV (if any)
Why give such info to seller/seller agent to give them a chance to increase selling price and COV?

If seller know he kanna makan and decide not to go ahead, is there any penalty besides returning the otp to buyer?

Wuhan, virus city of China HardwareZone Forums app

 

[KarmaStrikesBack]

After i bought liao i will tell.

Wuhan, virus city of China HardwareZone Forums app

 

[civicguy]

You dont have to tell if you are the buyer.

Dont have so many conspiracy theories or think left think right.

 

[NatureKeeper]

but in this case, im the buyer. the seller dont know their valuation right?

Yes. They don't know.

If seller know he kanna makan and decide not to go ahead, is there any penalty besides returning the otp to buyer?

Wuhan, virus city of China HardwareZone Forums app

No penalty. Just seller return otp money but buyer wasted revaluation money
and time for nothing. Buyer semula again

[Incorrect info for addon,ignore- See post 28]
Add-on: just did a quick search - it seems only buyer can accept or reject. Seller cannot cancel as otp is issued

 

[weathersohot]

The seller cannot say don’t sell after valuation. If he does, then he broke the legal agreement.

The OTP is for buyer to decide whether to buy , not for seller to decide

 

[plexxor]

No need to tell seller

Sent from The Matrix using GAGT

 

[Laneige]

I don’t know but wana ask is yr valuation price abt the same as previous sold prices in the Blk etc
Thanks

 

[Darwinson]

Aiya. The valuation report nothing special. It’s very similar to what SRX projects. Also for some low value flats nobody really come down to inspects. I think alignment of flat and locality has more points than the renovation of the house. Most seller know their house value. Either a buyer revealed to them agent give good estimate

 

[weathersohot]

I don’t know but wana ask is yr valuation price abt the same as previous sold prices in the Blk etc
Thanks

Most of the time yes, but may not be. I still bought the house with $30k COV

On the surface people will think the house is actually valuated at the price I bought

 

[Lss]

Valuation affects the loan amount. So if they offer too high can't get enough loan. The deal may fall through.

 

[KarmaStrikesBack]

The seller cannot say don’t sell after valuation. If he does, then he broke the legal agreement.

The OTP is for buyer to decide whether to buy , not for seller to decide

So whats the penalty for breaking agreement?

Wuhan, virus city of China HardwareZone Forums app

 

[Blue Blood]

then what u all usually tell the seller if they keep asking about the valuation?

 

[KarmaStrikesBack]

then what u all usually tell the seller if they keep asking about the valuation?

Just show them since they cant back out.

Wuhan, virus city of China HardwareZone Forums app

 

[virtualape]

you pay for it so no need to disclose. if its higher than what has been 'agreed', you got a bargain.

if you think the valuation is low and it affects the amount of loan you can take , you can choose to let it lapse and look for another unit while forgoing the deposit.

normally the agents will 'know' how much its worth +/- abit. hdb website can also check.

 

[virtualape]

then what u all usually tell the seller if they keep asking about the valuation?

just say the valuation is for you to take loan. already agreed on the price for the seller to issue the otp. you just need to settle the remaining deposit.

think the seller thinks/know they are selling below valuation.

i got mine 30k below valuation. bo bian, seller already issued otp. the transaction was smooth though. no hiccups.

 

[batniss]

ask u all ah, first time potential resale hdb buyer here. after i get the valuation from hdb hoh, am i obliged the show the valuation report to the seller? or tell them the value of their flat?

hdb site never say such things

No need share at all