About MOC/MOT
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 May 25 2022, 10:05 PM
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#1
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Junior Member
27 posts Joined: Oct 2004  
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Hi apologies if this question has been asked before. LHDN sent a letter requesting for payment of the MOT stamp duty and I notice that the market value stated in the letter is different (higher) than the market value assessed by the property appraiser. Is this normal?
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May 26 2022, 11:16 AM
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#2
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Junior Member
27 posts Joined: Oct 2004
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QUOTE(mini orchard @ May 26 2022, 07:38 AM) Yes. Thank you for the explanation, really appreciate it.Private appraiser valuation can be subjected to 'manipulation' and so is SnP price. One can buy a property 'below market price' for various reasons but for mot payment, govt valuation overrides all prices. However, if buyer buys above market price, that price will be use for mot calculation. Meaning ... mot payment is SnP price or govt valuation, whichever is higher. Private valuation is for bank loan purpose and nothing related to mot. Is for the bank to assess the risk on the % of loan to be approved  |
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