Hi hopefully someone can answer this..

I’m currently in the midst of buying a property from my wife for personal reason…

a bit of description..3000sqft, 2 storey bungalow on a agriculture land (1/2 acre = 20000 sqft) in bangi selangor..

At first place my expectation would be the total value would be around 1.2m including the land.. whereby house rate house price 600k & land around 400k (rm20/ sqft).

Then i got an loan approval from public bank.. the can only offer 810k for the whole property including the land.. in which i accept..

Then later the bank appoint private valuator for formality & the valuer give my property fair value around 1 million.. ok fine we are ok.

After going through the s&p and signed already.. lawyer send it to lhdn for duty stamp valuation.. then lhdn pass to JPPH (government valuation) and they come up with market value of 1.62 milllion 😮😮.. they duty stamp sky rocketlah from 17k to 49k.

So my question.. why so different between bank MV (810k) & government valuation (1.6M).

I’m ok to buy at higher price= more cash out for my wife( we can invest elsewhere).

Can the bank revise the offer loan according to value put by jpph? Or can i apply the loan with other banks?? I’m thinking of possibility.. tq