MOT @ 700K because developer refuse to allow direct transfer?

market value is not determine by the bank but from register valuer. bank also will refer value provided by valuer. Also, bank was the party who provide loan to buyer. If borrower default the installment amount, then bank need to lelong their home. Sometimes is not easy for the bank to lelong the home.

As you can see, there is always auction property lelong in the market and the the price is way lower than market value.

Market/Bank valuation needed because if borrower default the loan, when going to auction bank can recover most of the loan amount from auction itself.

EG market value 500k, so loan is 90% of 500k = 450k. if borrower default and lelong the property it should be sell off at around this price, example 400-450k range. bank can already recover most of the loan amount already from auction itself

Imagine like your scenario willing buyer willing seller, market value 500k but seller sell at 800k, and bank loan u 90% of 800k = 720k, when lelong sell at 400-450k, bank still have to wait for the borrower to pay back the balance of around 300k.

Yeah 300K (the debt) is hard to get back from defaulter (auction unit owner), bank will sue them bankruptcy, the debt will still slowly collect back via insolvency department and pay to bank is not it?

not i want to rant about this matter lah, just feel like as property buyer sometime it pain right? haha

Direct seller. Property is 15 years old.

Mean the seller has not perfected the MOT all this while right? Or I missing something here

So the question:
1. Is it Bank Valuation = Market Value?
2. Is it  Market Value is based on the supply and demand of 1 area, or bank valuation determine the market value?
3. If Ali ready sold his unit at 550K, and will it be new market value? and how many unit sold at market at new price only will then become a new market value?
4. How to determine Bank value vs Market value vs Developer value?

It hurts more for the lender. What sort of bank are you if you willingly lend an amount of money for collateral that is worth less than it. The onus is on developers not to be morons.

We’re in the position we’re in because dumb buyers then liquidated everything they had or hit up family for extra money to make developers gods and unaccountable. This needs to stop.

Buying properties for investment isn’t really all that any longer, most should be seen as a form of forced savings and for the long haul.

There is one under laying principle most detractors forgot, for there to be property there needs to be land and as Mark Twain said Buy land it isn’t being made any longer.

Forex? It’s just fiat money, The Feds can print as much greenback as they wished. Also takes forever to make any profit and offering requiring huge amounts of capital.

Shares and stocks? You folks must be either too young or have a selective memory, heard of Enron? How about the 1997 Asian Financial crisis?

Crypto? Lol.

Detractors of property investments can come up with all kinds of stories but none can show me a period in the last 30 years where a choice unit 22x85 or 22x75 DSL house in Bangsar could be purchased for less money than the previous year. Value dropped? On paper maybe but could you actually BUY one at the supposedly “lowered price” and was a choice unit not one that faced a t-junction or near a mosque etc?

On a bad year maybe you don’t get to rent it out for what you expect to else after 5 years  if you want to hold it you can remortgage and do something with the money or if you sell then you would still make a healthy return.