HDB Valuation

[KnobKnob]

I just submitted a request for valuation , anyone know how will we know if a valuator is being called down to the unit?

As in will a email be sent to us , or the valuator will call you that he/she is will be going down to the unit? Or no notification given? ( as the valuator will settle the physical inspection with the seller)

for me the valuator actually called me(buyer) accidentally

Sent from Samsung SM-G975F using GAGT

 

[FishandWater]

Offered 335k

But nearby no transaction only minor transaction
Only one transaction on Jan 2021 same block at 338k.

So was hoping based on that can match

 

[Mamimeow]

Bukit Panjang

Hi Digiet
Dont mind sharing how old is the unit u bought and at which level?

 

[Kevin10]

What are the chances of valuer being activated but yet still valuation matched ?

 

[sherica]

What are the chances of valuer being activated but yet still valuation matched ?

the resale i bought valuation matched. we all quite stunned but happy of course.

 

[gravity_infinity]

well 200m within my units selling 310k to 330k for 68sqm in jan 2021. but valuation came back 300k for a 75sqm unit. guess how much cov i have to pay?

for info jun 2020 two units sold for 310k for ,75sqm for my blk. and in nov 2020 for 345k for a 83sqm uNit.

 

[Kevin10]

the resale i bought valuation matched. we all quite stunned but happy of course.

As in the valuer went down and it matched or valuation matched within 3-4 days ?

 

[Kevin10]

well 200m within my units selling 310k to 330k for 68sqm in jan 2021. but valuation came back 300k for a 75sqm unit. guess how much cov i have to pay?

for info jun 2020 two units sold for 310k for ,75sqm for my blk. and in nov 2020 for 345k for a 83sqm uNit.

30-50K ?? depending on your offer..

 

[gravity_infinity]

30-50K ?? depending on your offer..

my point is the valuation is coMpletely based on nothing.

all recent transactions for a 68sqm unit is sold for 310k to 330k and they value the 75sqm unit for 300k. and all years lease are similar.

 

[Amber2012]

My next door unit (a few sqm smaller), the valuation difference is 55k compared to mine. Same block, same floor, they bought it half year ago. Both no COV.

But I will not even consider their unit (if I were to be looking for a unit back then) due to its layout and other factors.

And their seller sold it at that price because they were running out of time (committed to another property).

Plus many many other factors that contribute to a valuation. These are being shared in this thread many times.

 

[Kevin10]

this valuation is making buyers headache, haha. Moreover with the recent hot resales market and the up trend of price, we wont know how much diff the valuation will be. Just like me currently, valuer was activated, now praying not a big sum of COV. haha

 

[sherica]

As in the valuer went down and it matched or valuation matched within 3-4 days ?

for my selling valuer got come down my house but of course we wont know the value.

for my buying i dont know got valuer go down anot but valuation matched my offer. everyone including their cats are saying now resale sure got COV but not for our case.

 

[Kevin10]

for my selling valuer got come down my house but of course we wont know the value.

for my buying i dont know got valuer go down anot but valuation matched my offer. everyone including their cats are saying now resale sure got COV but not for our case.

You will received an sms from the valuer if valuer is activated, so meaning , for your case, no valuer was activated and valuation matched.

And to be honest, yes, alot of resale flats need COV for now but of cos, there are some agents/sellers are willing to sell at a reasonable price rather than the hiked up price thus higher chances of Valuation matched I guess.

For my case, i received an sms from the valuer with regards to the date that she is heading down to valuate the house.

 

[sherica]

You will received an sms from the valuer if valuer is activated, so meaning , for your case, no valuer was activated and valuation matched.

And to be honest, yes, alot of resale flats need COV for now but of cos, there are some agents/sellers are willing to sell at a reasonable price rather than the hiked up price thus higher chances of Valuation matched I guess.

For my case, i received an sms from the valuer with regards to the date that she is heading down to valuate the house.

i see thanks for the info and good luck to you bro!

 

[Kevin10]

i see thanks for the info and good luck to you bro!

Thats my guess only, not sure if really accurate, haha. Thanks for the well wishes !

 

[Mamimeow]

Hi All
I thought to share with u all of my exp. My nerve wrecking moments finally over! I realized that it is very hard to gauge the valuation even if u based on all kind of platforms like SRX, URBANZOOM & EDGEPROP even on the past transactions! Just bought a unit in Jurong West after struggling for more than a month after my current house is sold. Im doing contra so need to get a house asap.

Also, the resale trend currently is tremendously changed and differs to the past last few mths trend. Price is also ridiculous! I've nvr imagine that JW area is such in high demand where buyers willingly pay high COV for it. Everytimes after viewing a house, it was sold immediately to other buyer (same batch with me when viewing) and i always lost the deal because im not prepared to pay for COV. Mostly made the deal immediately!

I bought a unit at 465k after much negotiation with the owner. My selling agent really did a good job helping on the nego. Btw, i DIY my buying part. Even for selling he really did a good job to fetch my asking price in short period of time. He's my 3rd agent, the last 2 agents failed to get my hse sold. FYI, my current house is a MOP flat so there are alot of competitors selling at same time and my unit was on 2nd floor and it was VERY challenging to sell!

Ok, back to COV subject.
I bought a 1464sqft unit at 465k level 7.
Last transaction at same blk was in Jun 2019 at 425k level 4.
Last transaction within 200m:
Mar'21 was 440k level 4-6
Feb'21 there were few transactions btwn 430k-445k level 4-9.
Thr's one transaction sold at 475k in last Jan'21.

Estimated value by:
461k by SRX
464K by EDGEPROP
440K by URBANZOOM that gave me a SHOCK!

My agent advised me to mentally prepare of at least 5-10k for cov due to his recent experience for his buyer whom unfortunately got to pay 22k COV while the last few recent transactions price shows even lower than the offered price.

So, with heavy heart, im prepared to set aside 5k-10k as there were so little supply of flats in JW that meets my requirements to choose. The unit i bought was the nicest & decent compared to all other units i viewed.

I submitted the value request on Thur evening at 8pm. Im prepared that HDB will assigned a valuer to come as there were no recent transaction at same blk. So i targetted probably abt 7-10 working days to receive the report.

I lost my sleep thinking abt the COV. My hand started to itched to login into HDB resale portal & checked in early morning at 7am on Monday. Meaning, it was just 1 working day after my submission. To my surprised, it was completed & it MATCHED my offered price! Only god knows how happy i am.

I wish all of u here good luck & will have a smooth journey on buying yr house without COV!

 

[zackontherun]

Hi All
I thought to share with u all of my exp. My nerve wrecking moments finally over! I realized that it is very hard to gauge the valuation even if u based on all kind of platforms like SRX, URBANZOOM & EDGEPROP even on the past transactions! Just bought a unit in Jurong West after struggling for more than a month after my current house is sold. Im doing contra so need to get a house asap.

Also, the resale trend currently is tremendously changed and differs to the past last few mths trend. Price is also ridiculous! I've nvr imagine that JW area is such in high demand where buyers willingly pay high COV for it. Everytimes after viewing a house, it was sold immediately to other buyer (same batch with me when viewing) and i always lost the deal because im not prepared to pay for COV. Mostly made the deal immediately!

I bought a unit at 465k after much negotiation with the owner. My selling agent really did a good job helping on the nego. Btw, i DIY my buying part. Even for selling he really did a good job to fetch my asking price in short period of time. He's my 3rd agent, the last 2 agents failed to get my hse sold. FYI, my current house is a MOP flat so there are alot of competitors selling at same time and my unit was on 2nd floor and it was VERY challenging to sell!

Ok, back to COV subject.
I bought a 1464sqft unit at 465k level 7.
Last transaction at same blk was in Jun 2019 at 425k level 4.
Last transaction within 200m:
Mar'21 was 440k level 4-6
Feb'21 there were few transactions btwn 430k-445k level 4-9.
Thr's one transaction sold at 475k in last Jan'21.

Estimated value by:
461k by SRX
464K by EDGEPROP
440K by URBANZOOM that gave me a SHOCK!

My agent advised me to mentally prepare of at least 5-10k for cov due to his recent experience for his buyer whom unfortunately got to pay 22k COV while the last few recent transactions price shows even lower than the offered price.

So, with heavy heart, im prepared to set aside 5k-10k as there were so little supply of flats in JW that meets my requirements to choose. The unit i bought was the nicest & decent compared to all other units i viewed.

I submitted the value request on Thur evening at 8pm. Im prepared that HDB will assigned a valuer to come as there were no recent transaction at same blk. So i targetted probably abt 7-10 working days to receive the report.

I lost my sleep thinking abt the COV. My hand started to itched to login into HDB resale portal & checked in early morning at 7am on Monday. Meaning, it was just 1 working day after my submission. To my surprised, it was completed & it MATCHED my offered price! Only god knows how happy i am.

I wish all of u here good luck & will have a smooth journey on buying yr house without COV!

Just to share mine as well for toh yi gardens 4 room. Mine is quite similar to yours. There were only two transactions in this block recently. One for level 4 sold at 620k in Sept 2020 and the other unit at level 2 (well renovated) sold for 643k (3k COV). We offered at 655k level 6. Hoping for the best. It's been more than a week and the suspense is killing me. Valuator came down on Friday 3pm. Does hdb really need that long for the valuation?
Valuation submitted: 05/04/21 night

 

[zzzzzzz]

Just to share mine as well for toh yi gardens 4 room. Mine is quite similar to yours. There were only two transactions in this block recently. One for level 4 sold at 620k in Sept 2020 and the other unit at level 2 (well renovated) sold for 643k (3k COV). We offered at 655k level 6. Hoping for the best. It's been more than a week and the suspense is killing me. Valuator came down on Friday 3pm. Does hdb really need that long for the valuation?
Valuation submitted: 05/04/21 night

usually take long = higher chance got cov liao
mine also took sometime to come out in the end kana cov

 

[zackontherun]

usually take long = higher chance got cov liao
mine also took sometime to come out in the end kana cov

Sad but it make sense for them to justify the valuation

 

[zackontherun]

Btw just a question, can seller say they don't want to sell after OTP issued?