Anyone Done Valuation Since The New Ruling

[pixie 0]

Would like to understand if there is any impact on the valuation since the new ruling?

I have a valuation done in week 1 of Sept, and thinking if i do now, will it increase? or valuers also value lower due to new ruling.

Anyone recently done a valuation and has comparison with the previous?

[bepgof 20]

Would like to understand if there is any impact on the valuation since the new ruling?

I have a valuation done in week 1 of Sept, and thinking if i do now, will it increase? or valuers also value lower due to new ruling.

Anyone recently done a valuation and has comparison with the previous?

Below may appear a bit "difficult to digest" to some, however, this issue has been like something get stuck in my throat especially at this juncture, just to share my view: welcome all opinions.

Valuation is done by "Comparable Sales Method" and "valuation responsibilities disclaimer". See below(July 2009):

http://img839.imageshack.us/img839/5613/va...reportpage3.jpg

http://img716.imageshack.us/img716/8237/va...reportpage6.jpg

Meaning that: valuer done valuation and at end of report says that the valuer holds no responsibilities in whatever respects which may induce or lead to a legal action in the subject. = I said you worth only $1 based on "comparable sales method" and what I have said holds no responsibilities to further legal action which may be induced or resulted based on what I've said on your worthiness. However, in actual fact, the "worthiness" I commented on you, decide others' decisions. Is this fair and just?

That was why I raised the question of "conspiration" between valuers and policies. How "independent" are these valuers?

Personally believed this "market sentiment" plays a role (to what percentage?) in valuation process too. Those stock market investors well understood this. The same sotck, in "cold period", worths 10cent per share, but may worth $1 per share during "hot period". The timimg between 2 periods could be as little as a couple of weeks apart. Why like that? Market forces? A wise investor will always first based information available and decide its "intrinsic value", rather than the "extrinsic value".

There are always some "subjective" elements been involved in home valuation process, that was why the "disclaimer" comes in. The prices done in similar vicinity....only provide as "yardstick" or "base", the value of "conditions" of house are always "subjective" and as a layman, I would say, the valuation of "conditions" of house, should not be more than 10% of the total valuation price, in HDB resale (for pte resale, may raise this element, to not more than 40%), COV decides the conditions of house. The "similarities" of houses are difficult to define and can not be compared like an apple to an apple at all.

What I could say is the valuers are trying, at their best knowledge, as objective as possible, to decide the value of house, with ALL factors being taken into consideration. Question is who knows?Any channel to know?

Edited October 3, 2010 by bepgof

[neubie 2]

Below may appear a bit "difficult to digest" to some, however, this issue has been like something get stuck in my throat especially at this juncture, just to share my view: welcome all opinions.

Valuation is done by "Comparable Sales Method" and "valuation responsibilities disclaimer". See below(July 2009):

http://img839.imageshack.us/img839/5613/va...reportpage3.jpg

http://img716.imageshack.us/img716/8237/va...reportpage6.jpg

Meaning that: valuer done valuation and at end of report says that the valuer holds no responsibilities in whatever respects which may induce or lead to a legal action in the subject. = I said you worth only $1 based on "comparable sales method" and what I have said holds no responsibilities to further legal action which may be induced or resulted based on what I've said on your worthiness. However, in actual fact, the "worthiness" I commented on you, decide others' decisions. Is this fair and just?

That was why I raised the question of "conspiration" between valuers and policies. How "independent" are these valuers?

Personally believed this "market sentiment" plays a role (to what percentage?) in valuation process too. Those stock market investors well understood this. The same sotck, in "cold period", worths 10cent per share, but may worth $1 per share during "hot period". The timimg between 2 periods could be as little as a couple of weeks apart. Why like that? Market forces? A wise investor will always first based information available and decide its "intrinsic value", rather than the "extrinsic value".

There are always some "subjective" elements been involved in home valuation process, that was why the "disclaimer" comes in. The prices done in similar vicinity....only provide as "yardstick" or "base", the value of "conditions" of house are always "subjective" and as a layman, I would say, the valuation of "conditions" of house, should not be more than 10% of the total valuation price, in HDB resale (for pte resale, may raise this element, to not more than 40%), COV decides the conditions of house. The "similarities" of houses are difficult to define and can not be compared like an apple to an apple at all.

What I could say is the valuers are trying, at their best knowledge, as objective as possible, to decide the value of house, with ALL factors being taken into consideration. Question is who knows?Any channel to know?

well said.... that's why i always believe,

price != value but

price = perceived value

[pixie 0]

Hmm so now

if (valuers.happy) = high valuation;

else low valuation

or they will still based on the previous few months?

Anyone done recently?

[dinobros 1]

i redid mine 1 week after the announcement. it increase by 10k. however the original one was done 2 months ago. And in the past 2 months there are relatively high transaction in the block. So i recommend you to study the trend of resale in your block to see if ur valuation is reasonable. Anyway its juz a bet of $180.

I will say just do it and see how it works out.

[pixie 0]

i redid mine 1 week after the announcement. it increase by 10k. however the original one was done 2 months ago. And in the past 2 months there are relatively high transaction in the block. So i recommend you to study the trend of resale in your block to see if ur valuation is reasonable. Anyway its juz a bet of $180.

I will say just do it and see how it works out.

Thanks dino! =)

$10K is a good saving!

[Jgal 0]

i dun think its advisable to do valuation again cos most probaby will be higher.

if owner is eager to sell and wants a better price, they will take this chance to increase price.

if owner is not eager to sell, when they see that price is still increasing , they will take the chance of not sellnig the house and wait a while longer for it to max out.

if i were you, once beaten twice shy, wont try to do valuation again. :| unless you are paying 50-60k cov, i see a high chance that seller backout from the sale again.

why unless 50-60k , then do valuation again ? cos' seller dun see that they could get a better deal that that.. 50-10 , still 40k.. still high cov.

Edited October 6, 2010 by Jgal

[mel77 1]

i dun think its advisable to do valuation again cos most probaby will be higher.

if owner is eager to sell and wants a better price, they will take this chance to increase price.

if owner is not eager to sell, when they see that price is still increasing , they will take the chance of not sellnig the house and wait a while longer for it to max out.

if i were you, once beaten twice shy, wont try to do valuation again. :| unless you are paying 50-60k cov, i see a high chance that seller backout from the sale again.

why unless 50-60k , then do valuation again ? cos' seller dun see that they could get a better deal that that.. 50-10 , still 40k.. still high cov.

don't really agree with your point of sellers after seeing the valuation goes higher will take this chance to increase price. Once OTP done and price locked in, the re-valuation (up or down) is in mat'l to the seller.

Just that will need the seller to agree for re-value.

** I asked my buyer if he wanted to re-value my place as the valuation had gone up.

[Jgal 0]

mel77 : hee hee.. that's because you already bought a place at a great price and the new valuation for your current is not out yet.

If you know your buyer is paying no COV or less than 10k for your current place, i think you will still feel the pinch. However, you can always consolate yourself for buying your new house at a lower price.

why i advise pixie as such is because, she keep saying that she has all her wedding plan etc ard her purchase of the house, she may not want another "mishap" again.

[mel77 1]

mel77 : hee hee.. that's because you already bought a place at a great price and the new valuation for your current is not out yet.

If you know your buyer is paying no COV or less than 10k for your current place, i think you will still feel the pinch. However, you can always consolate yourself for buying your new house at a lower price.

why i advise pixie as such is because, she keep saying that she has all her wedding plan etc ard her purchase of the house, she may not want another "mishap" again.

No lah! For me i sold my place first. But when it was nearer to 1st appt, i asked my buyer if want to re-value as the valuation around my area generally has gone up by 10k.

As for my new place, we were prepared to pay the 50K COV but as the 1st appt was like 12 weeks away decided to place the $180 bet to do a re-value and was totally surprise with the increase. kekekeek!!!

[pixie 0]

No lah! For me i sold my place first. But when it was nearer to 1st appt, i asked my buyer if want to re-value as the valuation around my area generally has gone up by 10k.

As for my new place, we were prepared to pay the 50K COV but as the 1st appt was like 12 weeks away decided to place the $180 bet to do a re-value and was totally surprise with the increase. kekekeek!!!

hehe thanks all =) We decided to go for the valuation and take a bet on the $180.

Hope hope the valuation went up again and lower COV for us.

The final price is locked down on OTP so there is no variable COV, as what advised by our agent.

[Jgal 0]

Seller can block you from using the new valuation by stopping you from altering the otp date.

Any case, good luck.

[bepgof 20]

hehe thanks all =) We decided to go for the valuation and take a bet on the $180.

Hope hope the valuation went up again and lower COV for us.

The final price is locked down on OTP so there is no variable COV, as what advised by our agent.

Revaluation = 羊毛出在羊身上。

Edited October 11, 2010 by bepgof

[Warrior88 0]

Seller can block you from using the new valuation by stopping you from altering the otp date.

Any case, good luck.

Think your are right. pixie is not familar to the documentation. Beside OTP, bank document also need to change in terms of loan amount and LOF date.

[therat 18]

I thought once LO has sign. Cannot change the loan amount?

Unless cancel the LO and re-sign a new LO

If cancel, got cancel fee , right?