Hi Sifus,

I need your expertise.

I am planning to sell off my house.

I have contacted few agents to check market value of my house to determine the selling price.

What happen is all agents got back with different market value and some is very huge diferrent i.e. RM100K.

When i question them why other banks offer lower/higher market value and they said it is depends on the banks. Some banks can offer higher/lower market.

So, my question is which market value i should follow? Dont we have standard market value?

u can check brickz.my

valuation depends on the valuer itself, certain valuers only rely on last transacted price
certain valuers, they check on the renovation cost with approval etc..

If bank A have higher valuer, so why not sell at the said price.

Thank you for you info and appreciated.

For house there is no such thing as fix market value, it is very subjective. It involve too many factors.

Thank you. I will go with highest market value then

Ya, that will be a good start.
Good luck ya.

Why not hire a valuer. Spend some $$$ & get a valuation report
not satisfy... hire another valuer...

Thank you for ur advise

may i know how to hire a valuer?

call the valuation company , there are couple of famous/reputable ones like JS Valuers, raine & horne.

engage them to conduct a valuation on your property. their fees would be depending on the value of your property.

With that, can we use for loan application? let say, purchase price is 200K, but value is 250K, can we apply loan based on 250K ?

loan always apply based on SPA price.

Bank sometimes give lower margin because their valuation is lower than the SPA price.

They won't give u more than 90% even if their valuation is much higher than your SPA price.

so if spa price is 250K. we can apply 90% loan based on this? eventhough actual buying price from owner is 200K (should not be stated not stated in SPA right?)

Yes
200k stated in another piece of paper

Then, how the extra 50k from bank loan can be credited to the buyer's account?

1. Different banks use different valuers

2. Different agents use different valuers, some of them only use 1 valuer too.

3. As a seller you can sell the house at which ever price you want, but keep in mind that the maximum valuation should be the figure that the banks' panel valuer value that house at. This is because your buyers would most likely be buying the house using a bank loan, and they can only get the maximum of 90% (or 70%) of the maximum valuation (or the SPA price, whichever is lower) of the house.

4. In addition, there is no such thing as "bank valuation", the term you are looking for are the valuation by the banks' panel valuers. Hence the confusion. Each bank can easily have a list of more than 20 valuers.

not credited directly to buyer account.

refer to ur lawyer, they know how to do it.