Say for example the selling offer price is same with bank valuation, this means is a good deal? Assuming the condition of the unit and other factors is okay.

yes

yes. if bank can value the same as the asking/selling price, go ahead

bank valuation is always a safe bet that you are not overpaying for a unit. It is almost always +- 30% lower than sellers price.

If bank valuation same as offer price, you don't need to top up. However, very rarely you get 100% or even 90% loan amount nowadays unless ur financial status is good. For example, I just sold my unit at RM350,000 and bank valued at RM310,000 with 85% loan to buyer so he needs to top up RM86k cash. Not alot of people can do that now

This post has been edited by 779364: Feb 26 2014, 10:46 AM

Good deal is below bank valuation. Learn the different. If you want to know what will be good deal is if same selling price with valuation, then you have to see whether the prop is come with full reno or not and is it fully furnished. Bank dont value that. thank me later

wa below bank valuation, got ah?

somehow agree.
but valuer did value renovation, but with conditions that it is justifiable (home appliance etc not included), and value taken max only at 50% of the reno cost.

is so so..
Good deal when the selling price is min 10% below bank valuation..

for me it's the opposite. good deal for me would be 10% above bank valuation!

think very hard to get that offer le

hard to find below bank valuation now

not easy also to also find out bank valuation especially some apartment/condo which got almost none supply

i just purchased a subsale house for rm230k got 20k less from the starting price put by the house owner..
the bank valuation report doesnt mention the actual house value it just stated the house value at rm230k is reasonable and advice bank to approve the loan ..
does that mean the actual house value is more than 230k?

he he.. depend on situation..

hard but still available... not for new project, go for subsale..

so to find out the bank valuation, cannot just listen to negotiator, one sided right? so got to JPPH to find out, is it? http://www.jpph.gov.my/V2/index3service.ph...mat=2&no_item=1

Need to pay how much to them to find out?

This post has been edited by ngaisteve1: Feb 26 2014, 12:21 PM

Agree with this.

How do u know what is the bank value price?
Lets say im buying property for 400K and apply 90% financing, and got approved.
Does that means the valuation price is 400K ?

I think got several ways. one way is the previous transacted price. i think those negotiator might know if he/she sold a few in that area. another way is info from bank. i think usually those seasoned negotiator got connected with the banker because they introduce customer to them for loan. so in return of favor, they might provide some verbal info on the valuation of the units.

lastly is find out from those who paid third party valuer to find out. this could be your friends/relatives or colleague kua

but problem is negotiator might 'tipu' you also.

This post has been edited by ngaisteve1: Feb 26 2014, 12:56 PM

What about bank lelong price? It is usually 20%-30% lesser than the market/selling price, right?