Malaysia Real Estate

eric_78 · Joined: 21 Aug 2008 Posts: 2

For completed properties, assuming the bank valuates the property lower than the selling price, the maximum loans would be on the selling price or bank valuation?
Second, does different banks have different valuation?
Also if the property is renovated, is the valuation still applicable.
Thanks for your help.

far83v2 · Joined: 23 Mar 2008 Posts: 73

grinepel · Joined: 04 Sep 2008 Posts: 9

Hye,
The bank will take whichever is lower. If ur valuation is lower than bank will take the valuation price. But of course u can ask for the valuer to do a valuation in ur property where sometimes the price can mark up a bit.

Thank You.

eric_78 · Joined: 21 Aug 2008 Posts: 2

Thank you for your all kind replies.

Is it possible to valuate the house when the valuer was not even physically present?
I have a interested party for my property, both husband & wife works with the bank & they claimed that the value is much lower than my asking price.
Should i get a independent valuer & what are the typical charges?
Many thanks

far83v2 · Joined: 23 Mar 2008 Posts: 73

Actually first banker will call the valuer through phone because valuer have their record on that property area. Normaly when customer want to apply loan they no need to instruct the valuer to calculate the value as this will take cost. Imagine what happen if they construct a valuer to do inspection and suddenly the loan not approved. Not only he got to pay the valuer but also he did not have the loan approve.

Therefore to prevent for waste money before they got the loan, they call the valuer first.

Property can increase value by factor :
1.) You have done renovation to your house and got approval.
2.) The area itself has increase the value.

Normaly if you want to call valuer they are free of charge. All you have to do is provide full address, land area and state renovation you made.

Thanks...