Outline ·
[ Standard ] ·
Linear+
valuer report, need to pay?
|
merce
|
 Mar 1 2011, 03:21 PM
|
|
QUOTE(lucerne @ Mar 1 2011, 03:08 PM) 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. some purchaser dont mind, but majority of them does. Valuation fees vs Margin, which do u think u'll have to fork out more?  QUOTE(lucerne @ Mar 1 2011, 03:08 PM) 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. Prop portal doesnt justify the market value of a property. |
|
|
|
|
|
merce
|
Mar 1 2011, 03:55 PM
|
|
|
QUOTE(lucerne @ Mar 1 2011, 03:31 PM) 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) 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. |
|
|
|
|
|
merce
|
Mar 1 2011, 06:18 PM
|
|
|
RM 4k for RM1mil valuation report is kinda on the high side. which valuer quoted u this fee?  |
|
|
|
|
|
merce
|
Mar 2 2011, 09:11 AM
|
|
|
QUOTE(henryhing @ Mar 1 2011, 08:42 PM) 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
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.. how much was the property value? the Fees varies according to property value. the higher the property value the higher the fee.
Added on March 2, 2011, 9:14 amQUOTE(jalsrix @ Mar 1 2011, 11:00 PM) All BLOOD SUCKERS ! What is so professional about valuing a property to cost so much ?  Just get the average price of last 3 months sale transactions. I can do it for rm 100.  we can all do it for free, but only they have license and cert.  This post has been edited by merce: Mar 2 2011, 09:14 AM |
|
|
|
|
Quote
0.0147sec
0.83
6 queries
GZIP Disabled