ohh... i see i see. thank you. so that he can get the commission for intro the bank

thank you thank you again for answering my uncertainties.

I see. i initially thought the bank will evaluate the house. not the sale person. now I get a clearer picture that all this is depends on the person. not a real value of the house.

Bank A can say Rm 800k, Bank B can say, RM 900k, bank C can say Rm 500k. Now i get it.

The price you see on sale listings are suka² put by the seller, may not necessarily reflect the actual market value. They're considered "asking price".

For market value you need to see property valuer's report, either through bank during loan application process or you pay valuer yourself. I've kena cases during my journey as a buyer where the value given by bank/property valuer is lower than the asking price so it's hard to get comfortable loan margin, so I had to cancel my booking 😅

Yes.
Now got one agent say one of the house im interested, let say Rm 700k. I offered 650k. he say cannot because "bank valuation is Rm 700k. The owner wouldnt agree".

I wanted to know can he say like that straight away without telling the owner? he didnt say non-negotiable. he say bank value is Rm 700k.
Or he wanted to sell the house higher price to get higher commission?

secondly, again, is he using certain tactic to persuade buyer by saying "bank valuation?" .

usually owners will have a hard limit that cannot be negotiated lower, that's why agent may say owner wouldn't agree, because owner really wouldn't agree, and it's possible that agent is being truthful in saying bank valuation at 700k

again, surveying similar house listing and transacted price history in the area will tell you if agent is being truthful or lying, because banks/property valuers use similar criteria to value property (transaction history and current marketed prices of nearby properties)

This post has been edited by DragonReine: Oct 25 2021, 04:00 PM

Guys, do i still able to enjoy the hoc benefit ? if i currently have property under my name together with my brother due to my father has passed away few years back.

ok thank you.

HOC can be enjoyed by non-first time hownowners like your case, since there is no express/explicit restriction that it must be for first time homeowner. Just that you do not qualify for any first time homeowner schemes like Skim Rumah Pertamaku etc.

The scheme rumah pertamaku is for 100% loan and no down payment?

Up to 110% financing, subject to T&C

official site: https://www.srp.com.my/en/