HDB Valuation

[myrick]

Hi all, which is the best website to check on latest estimated HDB valuation?

Will this differ alot from the actual valuation? Will not want to have any heart attack after signing the OTP. Will the covid19 has a major effect?

 

[SethNg]

Hi all, which is the best website to check on latest estimated HDB valuation?

Will this differ alot from the actual valuation? Will not want to have any heart attack after signing the OTP. Will the covid19 has a major effect?

There's no one best website to check on the valuation, as at the end of the day final valuation is dependant on the HDB officer(different HDB officers may give you different valuation as well)

Recommend checking out all the valuation tools available to get a comprehensive estimation (Edgeprop, SRX, urbanzoom etc)

 

[harky]

if i give 275K

valuation is 270K

i still need to pay COV of 5K?

 

[ansarsali]

Yup, cov of 5k

if i give 275K

valuation is 270K

i still need to pay COV of 5K?

 

[harky]

there no way to know the valuation than..

even there is transacted prices, we dont know how much is the cov

 

[shadow84]

there no way to know the valuation than..

even there is transacted prices, we dont know how much is the cov

If the agreed price is just a bit higher than last fee transactions of same room type in the area, valuer will usually match valuation price to agreed price. How much difference is acceptable is of personal discretion from the valuer.

 

[myrick]

If SRX and Urban zoom both give me 550k-570k, will it end up 500k? Or it will be +/- $10k thing?

 

[sgpropertyblog]

If SRX and Urban zoom both give me 550k-570k, will it end up 500k? Or it will be +/- $10k thing?

The best is to check the latest transaction in that area.. if the last few units sold is around your purchase price, then most likely the Valuation will be able to match.. however, it also depends on the facing of your unit, interior condition, any renovation done ? etc..

based on my own personal experience, the last 2 units i transacted in Hougang & Punggol just less than 2 weeks ago, the Valuation can match..but both my units are newly MOPed units, not sure about yours though..

 

[Squaredot]

from what I learn from friends who bought or sold hdb under "new system", usually the valuer will match the agreed price unless price is way out and not justifiable to the valuer.

 

[Polar Bear King]

just check SRX on my cityview unit which i sold for $950k
last month it dropped to $934k
now is $924k

 

[momoksan]

from what I learn from friends who bought or sold hdb under "new system", usually the valuer will match the agreed price unless price is way out and not justifiable to the valuer.

I think before we even talk about valuation, your potential buyers will already know how much your unit worth based on the past transaction (probably in the last 1 or 2 quarters).

If your neighbor @ 10th floor sold their unit at 500K. it will be tough for you to get something > 500K if your unit is @ 5th floor.

 

[kelvin.wolfbane]

Hi bros,

Have a situation here to seek your advice

Am looking at a heavily renovated unit.
Seller wanted 520k
We offered 500k and the seller agent replied saying "the owner asking if that is our best offer??"
I called him and ask him again if there's any other offers but he refuse to tell me, saying that it's for fair competition.

I don't get his mindgame here, cause we are thinking if there's any better offer than us he would have told us. Cause we have expressed obvious interest in the unit. And which agent doesn't want to earn more commission??

As to the question of the valuation. We checked the last 12 months transacted price to be around 480 to max 495k. Our unit is using quartz kitchen top and high end homogeneous tiles and whole unit is totally renovated with lots of built in stuffs.

Any ideas will all these be factored in during valuation?

Will we have an heart attack in COV when valuation is out? We are prepared to pay 20k COV. How safe are we?

 

[Dominum]

Hi bros,

Have a situation here to seek your advice

Am looking at a heavily renovated unit.
Seller wanted 520k
We offered 500k and the seller agent replied saying "the owner asking if that is our best offer??"
I called him and ask him again if there's any other offers but he refuse to tell me, saying that it's for fair competition.

I don't get his mindgame here, cause we are thinking if there's any better offer than us he would have told us. Cause we have expressed obvious interest in the unit. And which agent doesn't want to earn more commission??

As to the question of the valuation. We checked the last 12 months transacted price to be around 480 to max 495k. Our unit is using quartz kitchen top and high end homogeneous tiles and whole unit is totally renovated with lots of built in stuffs.

Any ideas will all these be factored in during valuation?

Will we have an heart attack in COV when valuation is out? We are prepared to pay 20k COV. How safe are we?

If they ask like that the amount is probably below their expectation but no other higher offers. Still got more room to lowball imho.

 

[kelvin.wolfbane]

If they ask like that the amount is probably below their expectation but no other higher offers. Still got more room to lowball imho.

Really? We were thinking of that too but we really like that unit so decide not to take the risk. Well he's gonna get back to me tomorrow night so we shall see

 

[ansarsali]

Ya it may not be the seller expected price. Agent may also ask other potential buyers for offer too.

Really? We were thinking of that too but we really like that unit so decide not to take the risk. Well he's gonna get back to me tomorrow night so we shall see

 

[light84]

Hi bros,

Have a situation here to seek your advice

Am looking at a heavily renovated unit.
Seller wanted 520k
We offered 500k and the seller agent replied saying "the owner asking if that is our best offer??"
I called him and ask him again if there's any other offers but he refuse to tell me, saying that it's for fair competition.

I don't get his mindgame here, cause we are thinking if there's any better offer than us he would have told us. Cause we have expressed obvious interest in the unit. And which agent doesn't want to earn more commission??

As to the question of the valuation. We checked the last 12 months transacted price to be around 480 to max 495k. Our unit is using quartz kitchen top and high end homogeneous tiles and whole unit is totally renovated with lots of built in stuffs.

Any ideas will all these be factored in during valuation?

Will we have an heart attack in COV when valuation is out? We are prepared to pay 20k COV. How safe are we?

Dun get so emotional, is bad for negotiating

Agent is ethical so he wun tell you what others offer, otherwise he can play u easily if u look so desperate by telling u someone offered $Xxx, u willing to bid higher?

You can nego say u willing to offer 510 but OTP pay less, say $100 cos u scared valuation too low, need to pay a lot of COV, see what they say?

U got agent friends u can ask them log in to SRX, see what’s the valuation for the recent transactions?

Renovation not counted in valuation. But if the renovation is so well done, I think 20k or 30k COV is okay considering u dun have to have hassle of renovation plus can move in straight, maybe just clean and touch up a bit. Otherwise u reno, can be easily 50 to 100k plus 3 months of renovation and the stress of dealing with ID or contractors

 

[kelvin.wolfbane]

Dun get so emotional, is bad for negotiating

Agent is ethical so he wun tell you what others offer, otherwise he can play u easily if u look so desperate by telling u someone offered $Xxx, u willing to bid higher?

You can nego say u willing to offer 510 but OTP pay less, say $100 cos u scared valuation too low, need to pay a lot of COV, see what they say?

U got agent friends u can ask them log in to SRX, see what’s the valuation for the recent transactions?

Renovation not counted in valuation. But if the renovation is so well done, I think 20k or 30k COV is okay considering u dun have to have hassle of renovation plus can move in straight, maybe just clean and touch up a bit. Otherwise u reno, can be easily 50 to 100k plus 3 months of renovation and the stress of dealing with ID or contractors

Yea we know, we did tell the agent that we offer higher but the option fee be lower. And he himself first mentioned this during our first viewing too.

Anyway the owner is a Interior Designer himself and he did all his home ID himself. The agent apparently said that the owner calculated his ID cost to be around 90k. Which means fair enough from what I saw. So ya, we both also was thinking what you said. Us paying 20k COV for that house is still a steal from the looks of his ID

 

[shadow84]

I dunnoe if the format for HDB and private valuation are the same but this was in my valuation report.

8. Accomodation

Living/dining areas with attached balcony, kitchen, master bedroom with an attached bathroom, 2 other bedrooms and common bathroom.

9. Finishes

Resilient vinyl, parquet, timber deck and homogeneous tiled flooring, emulsion paint, wallpaper, glass panel and homogeneous tiled walls, emulsion paint, false ceiling with concealed and downwards lighting.

Nowhere states the condition and type of reno though. So, dun get pressurized by agent saying Owner spent $XXXk on reno coz its nt included in the valuation report. You will be paying COV for it, or bluntly speaking, paying partial for his reno.

 

[harky]

but the house he used already

seller agent is lady or guy?

Yea we know, we did tell the agent that we offer higher but the option fee be lower. And he himself first mentioned this during our first viewing too.

Anyway the owner is a Interior Designer himself and he did all his home ID himself. The agent apparently said that the owner calculated his ID cost to be around 90k. Which means fair enough from what I saw. So ya, we both also was thinking what you said. Us paying 20k COV for that house is still a steal from the looks of his ID

 

[kelvin.wolfbane]

but the house he used already

seller agent is lady or guy?

Guy lol

but i would argue in his position that he really maintained his unit well. All his reno are in tip-top condition, and the materials he used arent cheap too from what i know, 800x800mm homo tiles for all 1000sqft, homo tiles for 2 bathrooms walls, quartz kitchentop, L box lighting, Blum hinges for all kitchen cabinet... etc

damn cant wait till tonight for his reply lol