Mar 23 2010, 06:36 PM
QUOTE(Tohsan @ Mar 23 2010, 01:57 PM)
Since its only 10% lower than the purchase price, just top up the differences by cash or your epf money since you have 3 + 1 months to settle the amount. Once you get your loan approve and together with letter of offer plus S & P, you can apply for your epf withdrawal to top up the differences.
Another option is apply loan to a few other banks, pick one that offer the highest loan amount.
i think that's easier said that done...10% cud be 10k, 20k, 30k, or 40k...and the monies could've been put aside for reno/moving in etc...Another option is apply loan to a few other banks, pick one that offer the highest loan amount.
valuation is normally quite a standard process if the valuation is done based on address search only, meaning valuer only give its value based on the address and surrounding location. its not take into consideration renovation done etc. if the house has reno done before, e.g. extension, kitchen, built-in cabinets, the valuation price will be higher. but also depend how long ago was those reno carried out.
probably that's why the seller selling at higher than market value price??
TS mentioned they paid deposit, and from my understanding, for sub-sale, deposits are non refundable. but then of course, if the seller is nice, surely can refund cos u can cite ur reason. not becos u have change of mind, its becos loan problem.
if i was TS, i will first try with few different banks, and their valuer. bankers wanna make the deal, so they will also try with their valuer to give higher value.
if all else kenot, then no choice but to talk to the seller whether they willing to drop selling price.
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