Valuation

[quoo 0]

I've seen valuation reports with the seller's and others with the agent's. I think it's whoever paid for it la. Anyway if it's the agent pay for it later on buyer have to return one. that's what happened with mine. seller din wan to pay for valuation then agent went to pay for it cos she found it hard to market without valuation. pengs

oh i see, where did you buy your resale flat & how much did you pay for it ? are you the 2nd or 3rd owner of the resale flat ? I have seen some resale flat like >35yrs..and i will be 3rd owner..so abit worried to buy

Edited September 1, 2008 by quoo

[yokine9a 1]

I bought my resale flat as the 2nd owner. It is > 35 yrs old liao. All the 3-room flat in TPY are > 35 yrs old but sales are still going strong

The only thing you need to worry is when you want to sell the flat. Banks are not willing to grand loan if the flat has < 60 yrs lease, so a potential buyer of your flat can only get loan from HDB. You might have smaller bargaining power then.

[quoo 0]

I bought my resale flat as the 2nd owner. It is > 35 yrs old liao. All the 3-room flat in TPY are > 35 yrs old but sales are still going strong

The only thing you need to worry is when you want to sell the flat. Banks are not willing to grand loan if the flat has < 60 yrs lease, so a potential buyer of your flat can only get loan from HDB. You might have smaller bargaining power then.

hi yokine,

Care to share which area you bot ? You can PM me, if you find inconvenient to disclose here I have viewed some units at TPY Lor7/8 area..all built in the early 1970s..and i am going to be the 3rd owner..which i am abit worry already..and now u mention about the loan part, makes me more worried..if a flat has <60yr lease, where can we loan from ? only HDB ? but i am no longer eligible for HDB loan as this will be my 2nd flat

Edited September 1, 2008 by quoo

[yokine9a 1]

I bought a 3-room flat in TPY. Don't intend to sell it within the next 10 yrs.

I think you can still get a bank loan if you are buying now. But be prepared to live in that unit for many years, until it is selected for en-bloc

For old flats with upgraded work done, I do not expect them to last another 30 more yrs, cos structural wise, they are very old liao. Hopefully, HDB will tear them down within 20 yrs' time.

[sgbestproperty 1]

Is there any difference in the valuation price done by HDB officer (via seller) or by agent ? Can a flat have more then one valuation report ?

i believe HDB has appointed their panel of valuers for determing valuation etc....so the choice is not up to us now.