Valuation of Flat
 

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


Submitting a Valuation Request

Only flat buyers or their salespersons can submit a valuation request. 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)

Important Note:

The flat buyer making the valuation request must meet one of the eligibility schemes to buy a resale flat from the open market. Valuation requests made by ineligible flat buyers will be cancelled, no valuation report will be provided and the Valuation and Administrative Fees paid are non-refundable.

Valuation Process

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 1On receiving the request form with payment, a valuer will be randomly assigned from HDB's panel to assess the flat’s value.
Step 2The valuer will arrange with the flat owner to view the flat to conduct a valuation on the flat within 4 working days.
Step 3The 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. You may log in to My HDBPage (e-Service) using your Singpass. The valuation report can be found under "My Flat> Application Status> Valuation Request".
Step 4The 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 5Buyers can view and download the valuation report until one month after the resale completion date.


Last Updated on 23 Apr 2015