HDB Valuation

[sgpropertyblog]

How accurate is the valuation from SRX & Urban Zoom?

its just an indicative, not 100% accurate.. probably 60-70% accuracy?? i'm just guessing, i hv not go n do any research on how accurate it is as i dun normally use these..

 

[hwmook]

How accurate is the valuation from SRX & Urban Zoom?

I guess it depend on location. I tried both and it gave me very different for my property so which one is accurate? Anyway, i am doing refiancing so i am getting my property valued, let you know which one is more accurate when i get my valuation.

 

[g_t2006]

The first valuer accidentally divulged[!/b] some information to the buyer agent and seller agent which wasn't supposed to be known to valuers since valuation are supposed to be independent. Knowledge of such information would result in inherent bias in the valuation.

Huh? How does the valuer disclose information that he don't know?

Or you mean the valuer knew something he's not supposed to kmow and let people know that he know (the info)?

 

[light84]

Huh? How does the valuer disclose information that he don't know?

Or you mean the valuer knew something he's not supposed to kmow and let people know that he know (the info)?

I shan’t not go in details.

Just know that valuation are contestable in certain special circumstances ... Basically same as what someone else mentioned in this thread

 

[autumninthecity]

Been stressing out about the valuation for my resale flat in Tampines and it turns out we have to pay 20k COV

Thought I would share how accurate the calculators were after getting the valuation result, tho your mileage may vary:

• Urban Zoom: Accurate
• SRX X-value: Overestimated by ~$8k
• Edge Fair Value: Underestimated by ~$20k

 

[UptheToon]

Hdb valuation only made known to the buyer? Seller wont know the hdb valuation?

 

[harky]

Urban zoom seen a bit high for my unit..

Lol but for buyer will want lowest, seller want highest.

Been stressing out about the valuation for my resale flat in Tampines and it turns out we have to pay 20k COV

Thought I would share how accurate the calculators were after getting the valuation result, tho your mileage may vary:

• Urban Zoom: Accurate
• SRX X-value: Overestimated by ~$8k
• Edge Fair Value: Underestimated by ~$20k

 

[harky]

Ya, unless buyer tell seller

Hdb valuation only made known to the buyer? Seller wont know the hdb valuation?

 

[marc2002]

I basically take recent txn for the block to calculate avg psf as a reference point.

Just offered for a unit over the weekend. If based on same type of unit (3R corner) last txn, then i am almost 50k over. But if i use avg psf, then its about 15-20k over valuation.

Anyway the valuer going to the seller house tomorrow, probably wonder why the difference so big. But then altho the unit is 40yrs old, the unit had just had a full reno 5 yrs ago - seller just got MOP. I might appeal via sisv if the price is too far off.

So now pray can meet my offer or below 10k cov *pray*

 

[harky]

40yr.... not wonder.....

I basically take recent txn for the block to calculate avg psf as a reference point.

Just offered for a unit over the weekend. If based on same type of unit (3R corner) last txn, then i am almost 50k over. But if i use avg psf, then its about 15-20k over valuation.

Anyway the valuer going to the seller house tomorrow, probably wonder why the difference so big. But then altho the unit is 40yrs old, the unit had just had a full reno 5 yrs ago - seller just got MOP. I might appeal via sisv if the price is too far off.

So now pray can meet my offer or below 10k cov *pray*

 

[shadow84]

Been stressing out about the valuation for my resale flat in Tampines and it turns out we have to pay 20k COV

Thought I would share how accurate the calculators were after getting the valuation result, tho your mileage may vary:

• Urban Zoom: Accurate
• SRX X-value: Overestimated by ~$8k
• Edge Fair Value: Underestimated by ~$20k

Urbanzoom accurate till the last digit or at least for 1st 3 digits?

 

[Best of the best]

What it means if valuation is lower than what I offer to the owner?I offer 250k but came out only 240k.

 

[ansarsali]

Mean u need to pay COV of $10k

What it means if valuation is lower than what I offer to the owner?I offer 250k but came out only 240k.

 

[kelvin.wolfbane]

What it means if valuation is lower than what I offer to the owner?I offer 250k but came out only 240k.

You need to pay owner 10k COV.

But on a side note if its 10k difference then usually the valuer will try to match your purchase price. Unless there is some major issue with the unit

 

[edrickmark]

Can check : what about if I am the owner and agree price is $300K, after valuation the price come out $320K ?

 

[vinz]

Suck thumb.

U decide your selling price before hand (based on market price)

If you decide to sell lower, then whose fault is it?

But the thing is this won't be happening as long it's hdb at this moment in time.

HDB will just value your flat based on the transacted price, or market price (whichever is lower).

They won't go about creating this type of scenario where seller may want to back out (legally seller can't back at once sign the otp contract).

 

[Polar Bear King]

Can check : what about if I am the owner and agree price is $300K, after valuation the price come out $320K ?

cancel OTP pay back buyer double the fee lor
then go find another buyer for $320k or higher

 

[autumninthecity]

Urbanzoom accurate till the last digit or at least for 1st 3 digits?

First 3 digits, rounded down the last 3 digits.

 

[harky]

u wont know the valuation price unless buyer tell u..
i dont think buyer will tell u the valuation price.

Can check : what about if I am the owner and agree price is $300K, after valuation the price come out $320K ?

 

[OneMantou]

Typically those that need onsite valuation, how many work days after that would valuation report be provided in the portal?