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This post has been edited by AiRseaL: Oct 10 2011, 11:48 PM
WTA: How to get loan higher then market value?, Bank market value lower thn seling price
WTA: How to get loan higher then market value?, Bank market value lower thn seling price
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Jan 17 2010, 05:05 PM, updated 15y ago
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#1
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236 posts Joined: Oct 2005 From: K.L. |
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This post has been edited by AiRseaL: Oct 10 2011, 11:48 PM |
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Jan 17 2010, 06:21 PM
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#2
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248 posts Joined: Dec 2007 |
QUOTE(AiRseaL @ Jan 17 2010, 05:05 PM) Hi all sifus here.. Sorry but why you want to buy a house which is 70k above the market value I want to buy a house selling for 490k. Bank value it onli 420k max on the market. Difference in that is almost 70k,, imposible for me to have so much money. So my question is how to get bank to value it at the selling price (490k) so that i can get 90% loan of the selling price? And why selling price so high and bank value it so low? Izit posible? |
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Jan 17 2010, 06:59 PM
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#3
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13,495 posts Joined: Dec 2006 From: KL, Malaysia |
@AiRseaL,
I don't think there's any way out here. |
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Jan 17 2010, 11:24 PM
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U should study the market value b4 taking the dive.
Then, u can 'do something' b4 the evaluation is out. U know, like 'be friends' with the valuer. (of cos, this is wrong ethically if not legally) Now that the evaluation is out. No way. U may try applying from another bank. BUT beware, the current price hike on property is thanks to the low interest rates. Economy is still heading south. |
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Jan 17 2010, 11:26 PM
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#5
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1,202 posts Joined: Jun 2009 |
ask for different valuer?
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Jan 17 2010, 11:32 PM
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3,188 posts Joined: Jul 2007 From: A place called "home" |
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Jan 18 2010, 12:09 AM
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#7
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1,345 posts Joined: Sep 2009 |
QUOTE(scorgio @ Jan 17 2010, 11:24 PM) U should study the market value b4 taking the dive. you mean current price hike is due to low interest?Then, u can 'do something' b4 the evaluation is out. U know, like 'be friends' with the valuer. (of cos, this is wrong ethically if not legally) Now that the evaluation is out. No way. U may try applying from another bank. BUT beware, the current price hike on property is thanks to the low interest rates. Economy is still heading south. Then what will happen if the interest rate is increased? Will it happen sometimes soon? |
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Jan 18 2010, 12:28 AM
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1,184 posts Joined: May 2005 |
QUOTE(AiRseaL @ Jan 17 2010, 05:05 PM) Hi all sifus here.. Look for other properties if you cannot afford this one, you are not committed to it yet, like you said, you want to buy.I want to buy a house selling for 490k. Bank value it onli 420k max on the market. Difference in that is almost 70k,, imposible for me to have so much money. So my question is how to get bank to value it at the selling price (490k) so that i can get 90% loan of the selling price? And why selling price so high and bank value it so low? Izit posible? |
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Jan 18 2010, 09:26 AM
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#9
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376 posts Joined: Dec 2006 |
QUOTE(AiRseaL @ Jan 17 2010, 05:05 PM) Hi all sifus here.. Try a different bank, some banks purposely value the property lower to reduce risk for them. Also most banks will be happy to provide personal loans if you buying house from them, pay off these loans fast tho since the interest will be high.I want to buy a house selling for 490k. Bank value it onli 420k max on the market. Difference in that is almost 70k,, imposible for me to have so much money. So my question is how to get bank to value it at the selling price (490k) so that i can get 90% loan of the selling price? And why selling price so high and bank value it so low? Izit posible? |
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Jan 18 2010, 11:06 AM
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1,818 posts Joined: Jan 2005 From: Kuala Lumpur |
QUOTE(sheakhu @ Jan 17 2010, 06:21 PM) Usually, the renovation cost that makes owner markup the price very high, to recover his money back. But when it comes to valuation, the valuer takes only a small percentage of the renovation cost in their valuation.. Well, this is not answering the main issue, but just something I want to share.. |
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Jan 18 2010, 03:00 PM
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236 posts Joined: Oct 2005 From: K.L. |
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This post has been edited by AiRseaL: Oct 10 2011, 11:49 PM |
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Jan 18 2010, 03:52 PM
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3,589 posts Joined: Mar 2005 From: Bolehland |
I thought now for subsales, all bank offer BLR-1.8% without ZEC?
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Jan 18 2010, 04:23 PM
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236 posts Joined: Oct 2005 From: K.L. |
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This post has been edited by AiRseaL: Oct 10 2011, 11:53 PM |
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