Do note that you will need to sign up for a free account in order to use this tool. The Request for Value will determine the flats value and form the basis for your CPF usage and/ or the reference for the housing loan amount from HDB or the financial institution (FI), unless otherwise advised by the FI. I started consulting with Garry when my earlier home loan was near its lock-in period and I wanted to evaluate offers. If you are looking for the best value for yourself, do check out our HDB selling service at very Negotiable Commission Rates. Thanks to him that make the process smoothly. Your downpayment, in this case, is significantly higher. Important Notes: You can also check the resale transacted prices using the HDB Map Services It allows you to search for: Resale transacted prices within 200 metres from any HDB Block or DBSS Site/Project Resale transacted prices for all flat types in each block Firstly, itll determine how much buyers can use from their CPF funds to pay for the resale flat. This service enables you to check the transacted prices for resale flats within the past 2 years. He also justify the reasons on the pros and cons of these two rates. Very professional and responsible. Service was really good and the. We worked with Gary Lim.He was quick at responding, eager to help ensure we got what we needed to close our deal. the bank, and due to the higher rates that it was locked in at, I asked for her help to look at the possibility of refinancing at lower rates.She was very prompt and meticulous. Suppose your resale HDB flat is valued at $700,000, your HDB loan would be 90% of the loan-to-value figure: If youre getting a bank loan or 75% for the same flat, it would also be based on the same loan-to-value amount. Greatly appreciated her, help in guiding me to fill up the application form and answer my queries. He also. Transact with us at your convenience. Garry is the consultant, whom I had liaised with. Getting a resale flat isnt just as simple as negotiating the right price with the seller. Every process were guided step by step. And with this, you can easily do your own research preparation, before you meet up with property agents to discuss about your HDB resale plans. What is a Zestimate? During that time I met Sin Ling through a referral, she calmed us down patiently and stayed up to help us. Strongly recommended! In this case, an HDB resale valuation can help be somewhat of a guiding benchmark that'll allow you to haggle over the property's price with . Garry, thanks for your service! Strongly recommend for anyone looking to save the hassle and to get the best deal, look for Gary. Garry from FinanceGuru was very helpful and provided a detailed analysis on the different loan options. Most importantly I was able to complete the entire loan process quickly and effortlessly with his help. Again, best to check via IRAS myTax. Fabian professionalism made process a breeze. He was patient and understood what we need. He had seriously considered my refinance. He was the most professional and knowledgeable mortgage. criteria before recommending the most suitable loan available. For HDB housing loans, you can loan up to 90% of the purchase price/property value and have to pay 10% in downpayment. Through his wonderful network, he was able get in touch with the different bankers very quickly and made sure that I got the best deal in a short turnaround time. Case Study 1: 4-Room HDB Flat for Own Stay. Highly recommend Fabian. HDB will then decide whether a valuation of the flat is required to determine the value of the flat. If the rate is the same for these similar companies, dont you agree with me that service will be the next important factor? He response to my queries fast. After granting the Option to Purchase, sellers will need to agree to undergo HDB Valuation procedures. Highly recommended, Special thanks to Mark for the effort, always willing to go the extra miles to find the best deal for me. and correctly. Our questions & doubts are also well answered. Discover the many shops around HDB towns. The AV revision is part of IRAS' annual review of properties to compute the property tax payable. According to the Ministry of Manpower (MOM) and Central Provident Fund Board (CPFB), the $13,000 threshold should cover all HDB flats, as well as some smaller private residences. We go to great lengths to present you with the best deals and help you to break down the various mortgage jargons. He was friendly, approachable, patient and. You wont be able to use CPF or home loans to cover this amount, and youll need to pay the balance to the seller. Think of my best interest and find the most suitable home loan rates for me. Thankful to Winnie Teo who has relentlessly helped me sourced for the most suitable loan packages and had my best, interests at heart to recommend what I need. Thanks for Garry Lim always think of my best interest and find the most suitable home loan rates for me. If you require a certified appraisal for any property sale, purchase, mortgage, accounting, internal transfer, etc., please order a full inspection and valuation report HERE. I am glad that I click on the link. Jay Lim Associate Marketing Director This is where you can get guidelines, instructions, and news about your flat and neighbourhood. I had already done my homework and knew exactly what I was after, and Sin Ling was particularly enthusiastic and helpful in getting the ball rolling immediately to secure the best floating rate mortgage and law firm. I would highly recommend Leonard Cheah. 11pm. I like his consultative approach when he start to understand my thoughts and planning 1st before he match the most suitable package. The Inland Revenue Authority of Singapore (IRAS) will be revising the Annual Values (AVs) of HDB flats upwards by 4% to 6% with effect from 1 January 2022, in line with the increase in market rentals. HDB resale properties with a close proximity to schools and MRT stations. Government agencies communicate via Really appreciate the patience and the thoughts of always thinking from my point of view. The processing fee for each Request for Value is $120 (GST inclusive), paid for by the buyer. Through comparing listings (not very accurate) By checking caveats lodged with URA. After the Request-for-Value is submitted, the processing fee paid is non-refundable. It is literally a first come first serve basis for my selection as I was in a hurry to kick off my resale application.Mr Garry clearly explained the various mortgage rates and unbiasedly recommended me two competitive bank rates suited to my risk profile. Thank u Jasper! After a seller and buyer agree on a price and the Option to Purchase (OTP) is granted, HDB will assign a valuer to the flat to determine its valuation. Click here to obtain yourComprehensive HDB Flat Value Report.. And if youve got more questions on your HDB resale to ask us, well give you all the answers too! Will contact you again, Thanks Fabian! Typically, HDB valuation is calculated based on the market value of the units in the same area. Shout out to Winnie, very patient and helping out and explaining the alternatives, and even after my loan was approved, she still helped with questions. Whether you are buying, selling, or already living in an HDB flat, everything you need to know about residential properties is housed here. No time to read, search and analyze your flat value data? He also made sure they had all the correct information and was very prompt in his follow up until the loan was approved. It made our experience really good & hassle free. If you have engaged the services of a salesperson, your salesperson may make the Request for Value on your behalf via e-Resale or Estate Agent Toolkit (for agencies which are subscribers). Get a non-obligatory assessment and loan product recommendations today.. Great leg work from Garry Lim! Once youve received the valuation figure, you should submit your resale application as soon as possible. , service was really pleasant and hassle. The core basis on how HDB determines your flat value, is pegged to the surrounding transacted prices of your flat. On a side note, if you are purchasing a property, you can check the current and past 5 years AV value of the property from IRAS at $2.50 a search. Not only thinking of our interest he helps us throughout the loan application and make it so easy. Highly recommend Jasper and Finance Guru. * A resale application is considered complete only when HDB receives both buyers and sellers portions of resale application and the necessary supporting documents. Trusted websites. Learn more about how you can optimise your home loan and uncover potential ways to save you money and time. I truly appreciated for his timely response and most importantly, not pushy!As a satisfied client, I highly recommend Fabian and his team. (Because theres no benefit for yourself by getting confused with so many valuation figures when at the end of the day, it is still HDBs Valuation Report that is final). Find out how to manage the payment matters for your HDB housing loan using these instructions, guidelines, and tools. HDB resale properties located in areas poised to benefit from URA announced expansion and development. Different institutions have different regulations. Appreciate Jasper for looking out for our needs and advising us on timing to secure the rates before it headed up.Many thanks to Jasper and team once again!Immanuel, Firstly, I would like to commend FinanceGuru, Mr Garry for being the fastest one to contact me (half a day) after I had. The HDB Valuation will influence several things. enquiries with prompt response. I would highly recommend engaging a broker to close a property purchase as they have the expertise to manage the bankers and lawyers! He provided answers to my queries promptly. Sin Ling from FinanceGuru helped us with our home loan refinancing. position where my OTP deadline was halfway through and I was still missing crucial documentation. This section details how you can do so. Will definitely engage them again when it's time for me to refinance my home loan! Step 4: Check the outcome of the HDB valuation whether it matches or is below the sale price. How to find the value of your home? So, looking at the transacted prices of similar units around your HDB cluster, will give you a very good gauge on how much your flat can sell for. adminstrative work required by us was almost hassle free. He was patient to understand my needs and advised me with the right offers for me. The Housing & Development Board (HDB) is Singapore's public housing authority and a statutory board under the Ministry of National Development. If a valuation of the flat is required, the appointed valuer will contact the flat seller to arrange for a flat inspection. Heres how HDB decides the value of your flat . Two thumbs up for his service! Able to advise on the home rates . Here's how HDB decides the value of your flat - The core basis on how HDB determines your flat value, is pegged to the surrounding transacted prices of your flat. Always put us on the best interest and found the most suitable home loan package for us. As a result, this caused prices to shoot up drastically and made HDB flats more expensive than they should be. He did his homework very well and have all the. I think it is advantageous to have a broker who have a good relationship with various parties so that hiccups are minimised.Thinking about it, settling the bank loan (without in-principle approval) and the first resale submission within less than 2 weeks for a DIY homebuyer is a feat and Mr Garry plays a big part in all of that. services that he had provided us. We develop public housing to provide Singaporeans with affordable, quality homes, and a better living environment. The remaining AV will be taxed at the lowest tier of 4%. Feedback is prompt, detailed yet simplified. He. Please click the "Accept" button if you agree and accept the, You can also check the resale transacted prices using the, Resale transacted prices within 200 metres from any HDB Block or DBSS Site/Project, Resale transacted prices for all flat types in each block, All other related information to the block (EIP/SPR Quota, Upgrading Programmes and Distance Enquiry for CPF Housing Grant). Garry was super helpful n prompt in the entire process. Deciding between a bank loan vs an HDB loan? In the past, processes were different as the selling price of the HDB was decided only after the HDB Valuation. The HDB property valuation will determine the amount of CPF savings, housing loan, and the COV to pay for your resale flat. Case Study 2: 4-Room HDB Flat, Fully Rented Out. Step 5A: Valuation matches - Exercise the OTP by making the cash/cheque payment to the seller. Its easy peasy lemon squeezy. Whether you are buying, selling, or already living in an HDB flat, everything you need to know about residential properties is housed here. You will need to obtain approval from HDBto rent out your whole flat or spare bedrooms. You can find out more about the types of HDB car parks, important car park information, and parking offences. Will definitely. They. Thanks again fabian. He also simplified financial technical terms to aid our understanding. Focusing on nurturing a strong family and community spirit, public housing policies and schemes are formulated to meet changing needs and aspirations. You can check it out here: HDB Resale Flat Prices. Garry answered my queries patiently, promptly and correctly and best thing is I saved my interest for my house. He cleared all our queries promptly and correctly. definitely look for you again in few years time. Great proposals and valuable insights on the pro/cons. But, we will just share with you the most trusted and commonly used online property valuation tool. Prompt response from the teamThanks to Thea who manage to secure me a very good deal. 1 Answer Geryl Lim Replied 22 Nov 2022 IF you are enquiring if your name has been registered as tenant with HDB, you can try visiting this link to fill up the necessary details. service. Thanks Leonard! Simply put, your sale proceeds from selling your flat is the purchase price that you set, less the following if applicable: 1. They know what they are talking about and that. You may pay via: To submit an HDB Valuation request, you must submit the Request-for-Value with an attached scanned copy of page 1 of the Option to Purchase. Highly recommend. Consultation is Free and No Commitments Required. information only on official secure websites. I was able to save a lot of hassle contacting different bankers and find the most suitable home loan rates for myself.I definitely will recommend him and look forward to find him to help if there is any future requirement on home loan. All transacted prices are transparently published on HDBs website. He is willingly to share the pro and the con of converting my house loan from HDB to bank loan. Now that you know how property agents advice HDB sellers on their flat selling price, you can use these 2 methods to do a little pricing homework, before you consult your trusted agent on your property plans.. And we assure you that there will be no shocks or surprises when setting your desired selling price with your property agent. his trade and has provided me with valuable advise and guidance. With his help, we are confident that we have made the best decision out of all the options available.We will definitely highly recommend Jasper to our friends in the future!Josiah and Shelia, Garry is responsive and helpful. You can see what are the nearby blocks here:HDB Map Services. Loan-to-Value (LTV) The HDB housing loan LTV can be up to 90%. A bank loan, on the other hand, has a maximum LTV of 75%. The data is based on registered resale applications and is updated daily. If you are using cash only (i.e., no CPF usage and no housing loan) to pay for your flat purchase, you do not need to submit a Request for Value. Learn about the various types of season parking you can apply for if you require a long-term parking arrangement. Documents were reviewed and submitted in a short couple of days period. Share sensitive I'll also tell you a little about the bank or HDB's valuation, and how it can affect you if you can't check the transaction history. Highly, Excellent work from the team from Financeguru! Thumbs up to his excellent service :), Jasper is very professional and responsive whenever i contact him. i will highly recommend fabian from finance guru should you require any refinancing issues. go.gov.sg/open). Free Home Value Estimator | Zillow How much is my home worth? He provides answers to our. You and the flat sellers must submit the respective portions of the resale application* during this 3-month period. Good research and good service. Do credit history matter when you apply for a home loan in Singapore? websites (e.g. His property is estimated to fetch a monthly rental of $2,500. .gov.sg My home loan was still under the lock-in period by. Mark had been the most helpful and always willing to go the extra mile. Fabien Li communicated very well through whatsapp due covid 19 restrictions. Thank you & appreciated , Sin Ling from FinanceGuru made our home loan application process easy. The amount of CPF savings you can use, loan amount you may take, and Cash-Over-Valuation (COV) to pay. Communication was crystal clear and the process was, would recommend Garry to anyone who wants to engage the service of finance guru. It was crucial for my wife and I to make a wise and informed decision, and Jasper helped set the stage for that in a very short amount of time.His timely response assured us that he was always on top of things and giving our case a close watchful eye. Once that is solved, I went on the process of applying housing loan. Will definitely engage and recommend him for future transactions. John recently purchased a 4-room BTO HDB flat with his wife and their newborn son at Punggol. If you are, youll need to be familiar with the HDB valuation. He has provided us a lot of information based on his knowledge. Today, we are going to transparently share with you how property agents determine how much a HDB flat can likely sell for. thanks a million Garry , Was served by Garry. Professional service with sound advice, for a peace of mind! You can proceed to step 6. patient and took time to understand the situation before speaking to his team of bankers. Thank you. knowledgeable and polite in answering all my questions. on FB and honestly also few other platforms that claim to give good assistant on home loan refinance. Swift response from Garry and timely reply to my queries. bank and lawyer firm). Prompt response and good service rendered by the consultant on our home loan application. She is very patient in explaining the technical terms. Heres a step-by-step guide to walk you through the application process: Step 1: Submit your Request-for-Value on the next working day stated on your Option Date in the Option to Purchase granted by your seller.Step 2: Log in to HDB e-Service with your NRIC no. Fees and Payment Modes for Check Annual Value of Property Each search costs $2.50 (inclusive of GST). or request a noobligation market value offer from Zillow. The loan amount will be based on the HDB Valuation figures. Following this, HDB ceased publishing COV figures online. If you haven't fully paid for your current flat yet, the outstanding part of the loan will be deducted from the resale price, if . The valuation figure will remain valid for 3 months from the day its published on the HDB Resale Portal. For HDB housing loans, you can loan up to 90% of the purchase price/property value and have to pay 10% in downpayment. Thanks to her great work, my first home loan application was, finished smoothly. Five years have passed. Got the best deal. Highly recommended, Garry!! Now I am filled with gratitude to him for his exceptional trading skills because it has really changed me financially with an investment capital of $2,000 and am making $16,180 return(s) per week right now. On the other hand, bank housing loans are only allowed to lend up to 75% of the homes value. I am more than willing to share with you my successful trading outcome today. Highly recommend anyone who is looking for a mortgage loan to look for Garry Lim. Your privacy is protected & your contact will not be shared. my queries. 1st time using finance guru for my mortgage loan. provided answers to my queries promptly and correctly. Do note that the HDB Valuation is separate from HDBs approval for a resale flat to be sold. Garry, presented the options to me clearly, sought to understand what I was looking out for, and made recommendations based on his professional views which I deeply appreciate. Learn about the conditions that flat buyers have to follow after moving into their flat. He made this home purchase journey easier. Provided me with exceptional customer service throughout the entire loan process and made the mortgage loan process so easy.When researching home loan rates, she always considers our best interests. Find out more about the differences here. He willingly went an extra. Get details on market data and the procedures for selling your flat, and be guided on your flat selling journey. On the other hand, bank housing loans are only allowed to lend up to 75% of the home's value. He is friendly and very helpful throughout the entire process. Garry was extremely helpful, approachable, polite and knowledgeable. HDB's letter that informs the buyer of the value will remain available for viewing and download until 1 month after the resale completion. Good step by step guidance, on applications. Thumbs up! best advise and solution on cost saving for my properties. This a late review , wanted to wait for my refinance home loan to complete (took 3 months). Read about property stamp duty in our ultimate explainer guide here. Thank you for all your hardwork and assistance! .gov.sg I would like to recommend Garry who is handheld me throughout the whole loan application process and made mortgage loan, I would highly recommend Melissa Chan from FinanceGuru. 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