why we need to pay for the valuer report when we apply loan from banks?
it is unfair to borrower to pay the above report as bank can always reduce the loan amount if they dun believe with the purchase price. some purchases dun mind to reduce their loan amount according to bank wants. (if they can waive the valuer fee), after all we cant borrow 100% of the purchase price.

eg a prop per SPA is 1mil , bank loan margin at 80% = 800k. if bank dun believe the prop worth 1mil, they always can reduce loan margin to 60% to loan only 600k. in fact they can check with many prop portal eg iproperty etc about the market value.

Yes need to pay but usually its absorbed into your loan or misc fees.

Bank has to do their own valuer else any ah chu or ah kau also can value their property higher to get higher loan.

She's right. ah ko & ah mau valuers!

The problem is people want the loan margin to be at 90%. They cannot afford anythign lower than that.
Even 70% also got some speculator complaining here.


This post has been edited by Drian: Mar 1 2011, 03:20 PM

some purchaser dont mind, but majority of them does. Valuation fees vs Margin, which do u think u'll have to fork out more?


Prop portal doesnt justify the market value of a property.

do borrower have the choice to avoid valuer fee by accepting lower loan margin?? (until margin that bank are satisfied with)
i dun agree to pay extra 4k to valuer for extra 10-20% margin..

prop portal - at least they can judge loan margin 60% are safe. (eg almost half price from average prices)

Wah you dont mind pay high downpayment in hundreds of thousand but make so much noise for rm150-200 Valuation fees.
People pay for re valuation if not happy with lower bank valuation coz the want higher loan. Bank valuation is free. But the valuer also must be panel with the bank..

prop abt 1mil need to pay about 4k which is our hard earned $.
as i said, i dun mind to pay another 100k if the loan amount reduce from 800k (80% margin) to 700k (70% margin). pls take note that 100k extra loan u need to pay interest too. if u hv 100k extra in FD why not offset the loan and save bank interest and 4k valuer report??

the waiver for valuation report is subject to bank's approval, but yes its possible and has been done before BUT only limited to certain circumstance. (ie, top-up loan back to original limit etc)

Waiver of VR with a lower margin is possible, but again as i mentioned, subject to bank's approval.

prop portal - where property prices are posted up by agents and owners without a proper justification. i higly doubt the bank would use them as reference for risk management.

Yes u r right but for some others, the 100k extra can put down for other prop investment. Of course for own stay we put more la.. Anyway coming back to valuation cost, how come its 4k?? Its that valuation fees or undertable money?? Very different u know..

yes... agreed

how do they know what to believe if they do not have a valuer?


loan 1m, valuation fee = 4k? are you sure? you should be able to get much much better rates la.... go ask around...

RM 4k for RM1mil valuation report is kinda on the high side.

which valuer quoted u this fee?

i m refering to http://www.lppeh.gov.my/fees.html

my condo is 1.2 mil
1 mil is oredi 3.5k

i cant recalled wat is the exact fee that banker told me, i think abt 4k..

ya... that table is there... but for 1m+ property, no valuer follows the fee scale la... sure got big discount... ask!

Many many years ago.

A bank's branch manager have absolute say in loan application. As predicted, many abused the power for personal benefit.

Fast forward to 2011. To reduce unwanted staff influence & reduce operating cost. Many banks set-up regional centre. These centres don't deal directly with clients/applicants. They deal only with data & document processing.

Thus valuer became part of the chain. The evaluation report became a recommendation document. Banks let customer absorbed part of the cost. In return, they offer u stuffs like rebate, free gifts, free CC. It's all part of the biz. When u're rich, bank's ur friend. When u're struggling, bank's ur foe.

This post has been edited by scorgio: Mar 1 2011, 08:07 PM

" Banks let customer absorbed part of the cost" --bank absorb most of it??

mean valuer fee can be much lower than published rate? any idea how much is the discount? 4k to become 1k??

It's in thousands, not just a few hundreds as you said. I just did it and the report was rubbish. If not for bank, I would scream them.

How come I did my valuation once at henry butcher for rm150 only. No under table needed for me. Maybe I kenal so cheaper is it..But got official receipt wor.. Which valuer charge u so much?? Care to share so we boycott

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Added on March 1, 2011, 8:47 pmWah I should be thankful as I always call my bank officer to valuate properties that im interested b4 i apply for loan. One phone call and i get the valuation max 1 day later. All for free only. But only verbal la not printed one. I usally ask them check 10-20 times b4 I buy one. Wah now only realised I am abusing their service... Public bank is the best..

This post has been edited by henryhing: Mar 1 2011, 08:48 PM

It is daylight robbery, I think it is meant to enrich their business partners.

The valuation report is not necessary in my opinion.

I was charged for rm 570 'professional fees' which value the property at such low rate it is ridiculous.

I think these valuers don't know how to valuate a property and there are so many mistakes in the so-called professional report.

Furthermore, my bank lawyer don't pay for it, i have to pay for it directly.

Where can we as buyers complain about this fleecing of our money ?



This post has been edited by jalsrix: Mar 1 2011, 09:00 PM