You must have a valid valuation report of the flat you are buying if you are:
- taking an HDB or bank loan; or
- using your CPF funds to buy the flat or service your loan instalments.
The valuation is used to determine the financing limits for:
- CPF usage
- Housing loans, and
- Cash payment
The valuation for an HDB flat is carried out by a valuer from HDB's panel of valuers. The valuers in the panel are professionally qualified and licensed by the Inland Revenue Authority of Singapore (IRAS).
From 10 March 2014 5pm onwards, only flat buyers or their salespersons can submit a request for valuation. The request can only be submitted after the sellers have granted the buyers an Option to Purchase.
More details in the press release dated 10 March 2014
All valuation requests have to be submitted online. You can submit the request via e-Resale (Online Submission of Resale Application and Valuation Request)
only after the sellers have granted you an Option to Purchase. The request has to be submitted by the next working day.
If you have engaged the services of a salesperson, your salesperson will submit the request on your behalf either via e-Resale or the Estate Agent Toolkit
(if their Estate Agent is a subscriber).
To submit the valuation request, the following information is needed:
• Resale flat address
• Name and NRICs of all flat buyers
• Requestor’s email address
• Option to Purchase details (Option date, Resale Price and Option to Purchase serial number)
• Scanned copies of Page 1 and 8 of the Option to Purchase
• Flat owner’s details (name, NRIC, contact number and email address)
The valuation for an HDB flat is carried out by one of the HDB's panel of valuers. The valuers in the panel are professionally qualified and licensed by the Inland Revenue Authority of Singapore (IRAS).
A valuation is processed as follows:
|Step 1||On receiving the request form with payment, a valuer will be randomly assigned from HDB's panel to assess the flat’s value.|
|Step 2||The valuer will arrange with the flat owner to view the flat to conduct a valuation on the flat within 4 working days. |
|Step 3||The softcopy valuation report will be posted on the buyers' My HDBPage once it is ready, typically within 7 to 10 days from the date of the valuer's visit.|
|Step 4||The valuation report is valid for a period of 3 months from the date of the report. However, as the valuation report has been prepared for buyers as stated in the Option to Purchase for the subject flat, the valuation report will lapse if the buyer decides not to exercise the Option to Purchase.|
|Step 5||Buyers can view and download the valuation report until one month after the resale completion date.|