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 Selling price vs Bank Valuation

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LoveMeNot
post Feb 28 2014, 11:06 AM

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QUOTE(ngaisteve1 @ Feb 27 2014, 10:51 PM)
need to pay anything?

Btw, is forced sales value = lelong value?
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My CIMB loan valuer cost me RM1150.
TSngaisteve1
post Feb 28 2014, 12:26 PM

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QUOTE(LoveMeNot @ Feb 28 2014, 12:06 PM)
My CIMB loan valuer cost me RM1150.
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wow that's a lot. last time, mine is rm700
LoveMeNot
post Feb 28 2014, 02:06 PM

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QUOTE(ngaisteve1 @ Feb 28 2014, 12:26 PM)
wow that's a lot. last time, mine is rm700
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Now I'm wondering if the charged differs greatly from one bank valuer to another hmm.gif hmm.gif
tomlee1210
post Feb 28 2014, 02:09 PM

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QUOTE(shahrul_sama @ Feb 26 2014, 12:11 PM)
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?
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rclxms.gif rclxms.gif rclxms.gif may i know which area you bought ? can share ? thumbup.gif
alpha team
post Feb 28 2014, 03:42 PM

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QUOTE(kochin @ Feb 26 2014, 11:53 AM)
for me it's the opposite. good deal for me would be 10% above bank valuation!  wink.gif
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why?
alpha team
post Feb 28 2014, 03:49 PM

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[quote=brother love,Feb 26 2014, 11:04 PM]
Me learned not to trust those valuers valuation, they based their prices on OLD tramsacted prices and earns easy money snapping few photos, let me tell u, me and undoubtly ,any investors missed many gud poperties due to valuer unable to matched the asking prices, later a year or two the mv gone up 50%++
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[/quote
not agreed. property valuer is professional, they are governed by professional body.
alpha team
post Feb 28 2014, 03:55 PM

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QUOTE(ngaisteve1 @ Feb 27 2014, 10:51 PM)
need to pay anything?

Btw, is forced sales value = lelong value?
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force sale value is the value that the property worth should it need to be sell immediately.
lelong value is the value set by banker for auction.


TSngaisteve1
post Feb 28 2014, 03:56 PM

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QUOTE(alpha team @ Feb 28 2014, 04:42 PM)
why?
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meaning even above 10% already very hard to find lo biggrin.gif
alpha team
post Feb 28 2014, 04:00 PM

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QUOTE(ngaisteve1 @ Feb 28 2014, 03:56 PM)
meaning even above 10% already very hard to find lo biggrin.gif
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ya meh? no la. I dun think so

SUSUFO-ET
post Feb 28 2014, 04:02 PM

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QUOTE(alpha team @ Feb 28 2014, 03:42 PM)
why?
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The demand drives the property price 2x/3x faster than market (Valuer) reaction
The essence of choosing a good property : Dun be greedy
Good property in good location does not come cheap, adverse thought needed

This post has been edited by UFO-ET: Feb 28 2014, 04:04 PM
shahrul_sama
post Feb 28 2014, 04:22 PM

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QUOTE(tomlee1210 @ Feb 28 2014, 02:09 PM)
rclxms.gif  rclxms.gif  rclxms.gif  may i know which area you bought ? can share ?  thumbup.gif
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bdr rinching semenyih...
my44
post Mar 1 2014, 06:58 PM

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QUOTE(ngaisteve1 @ Feb 28 2014, 10:09 AM)
i wonder why after bank valuation, still need to pay rm700-rm800 to a valuer company hmm.gif
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Haha. Bank valuation is actualy this appointed company's valuation lah. Bank, in itself, doesn't make valuation and only depend on 3rd party service. Macam outsourcing lah.

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