Hi, How long does bank valuer take to call up for valuation and payment? Eg how many days or weeks after sign letter of offer. Thanks

Depends on workload but it should be within a week or you can always call them to schedule an appointment.

B4 they hand the report to you or bank, you have to settle the bill.

This post has been edited by mini orchard: Jun 24 2020, 02:42 PM

Many thanks for reply. I have request Banker to give me their contact, to contact them myself, but Banker say they not allow to release valuer contact to me. It had since been 2 weeks after signing the letter of offer. Perhaps MCO might cause more delay.

is depend on the bank when will they issue the letter of instruction to the valuer. Once the valuer receive the letter, they will arrange their staff to contact you for the appoitment to do site inspection.

Your banker talks rubbish. What so secretive of a phone number. Is business and not personal. Not even the office no ?

They have panels of few valuers and lawyets. You can choose who you want to engage as you are paying the bill. The reason the banker is not giving you the contact is he may be taking a cut from his favourite valuer. Others may not be giving him. Eventually the valuer still have to contact you and you will have his number.

If he still being difficult, speak to the manager or someone higher.

There are not many transactions now and business is slow.

This post has been edited by mini orchard: Jun 24 2020, 04:28 PM

I do feel weird when Banker avoided to provide the phone number, Banker say reason was they are contact with the valuer company boss, not sure which valuer is assign my case, so cannot give number. Yes I do realize I am paying the fees hence I have follow up with Banker each week. I will chase Banker again and push for it. thanks for the suggestion and advice.

I am not sure why the banker wants to do the coordination as though have nothing to do.

If i am banker, i will give the list of panel valuers and all i want is the report to process the loan.

A week after I signed offer letter, Banker say instruction already issued

Hi Pac Lease, saw ur reply in few thread at property, are you a valuer?

I'm guessing after both bank and you sign the loan agreement, the time taken for the bank to instruct the valuer and valuer to contact you. A week after possibly.

Morning sign loan agreement, afternoon valuer can go inspect property. Not complicated job or unless valuer staff busy which I doubt in current situation.

Signing loan agreement and valuation are two separate job. It does not depend on each other. Is only after the valuation, then the bank will disburse the loan.

This post has been edited by mini orchard: Jun 26 2020, 08:57 PM

Upon mini Orchard suggestion, I call up valuer office yesterday, Banker did not give out contact but did let me know valuer company name after I ask. Based on valuer office staff checking, valuer received instruction 5 days ago, while Banker let me know instruction issued 10 days ago.

The office staff let me know name of valuer in charge for my case, that i should receive call from valuer next week about appointment for inspection. Hope things move faster and more smooth after this .

Thanks for all sifus reply and suggestion.

hehe, im not valuer but im banker.

mine contacted me within 2 weeks after i signed the loan acceptance letter. But to produce the valuation report the valuer told me need to have a stamped SPA though...

thanks for sharing ...how long did the report took?

actually i'm going to sign my S&P next week... Maybe can update u again how long it takes for my valuer to come out with the report? Hahaha

are u seller or buyer? does buyer need to border about valuation?

Sure..that will be great... Thanks

I am buyer, mine is subsale. If validation report lower than selling price, buyer have to top up more $$

valuer is bank's panel or you appoint it?
my experience with Public Bank is they disregard 3rd party appointment of valuer. they only stick to its panel valuer

What message are you trying to conveyed ?

My case valuer came in after more than 2 month due to MCO.

nothing, just waste of time asking bank to engage other valuers.
you engage yourself provided that bank accept the valuer.

Normally there are few valuers in the panel list. Select one and get the job done.

my valuer contact me after I signed the SPA and loan agreement. then now vendor is outstation hence he no manage to evaluate on time. dono will have impact of delay or not...btw, banker just told me no worried as they have "verbal' confirm the unit value before the draft the letter offer....