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! If you live in your flat, you will pay owner-occupier tax rates. HDB's official valuation of the HDB flat, however, is $700,000. She calculated that while I will pay a penalty to the bank for breaking the lock-in period, the lower interest charges and rewards by recontracting with another bank will still provide substantial savings for me.She suggested a shortlist of rates from a few banks to me and advised me on the pros and cons of each plan and tenure. Consultation is Free and No Commitments Required. Look for a Where2Shop isfor both residents and retailers, and seeks to create a shopping community and to enhance the shopping experience in our towns. 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. websites (e.g. Typically, HDB valuation is calculated based on the market value of the units in the same area. He was non-pressuring, giving very detailed options, evaluating pros and cons of each home loan rates. A big thank you to Sin Ling for her professional advice and help. In the current climate of HDB resale homes selling like hotcakes, and with many willing to pay more for them, the ultimate sale price might be significantly higher than the valuation of the property. Your downpayment, in this case, is significantly higher. queries were answered promptly and precisely. Again, the data used is from 2018, which is the latest on record as of this writing. He has assisted and provided sound advice on my home. The amount of CPF savings you can use, loan amount you may take, and Cash-Over-Valuation (COV) to pay. 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. Timely and Fast Response. Whether you are buying, selling, or already living in an HDB flat, everything you need to know about residential properties is housed here. Delighted that I made this decision. Highly recommended Thea and financeguru! Highly recommended to people looking to refinance their loanfully satisfy with the service. Gary is very helpful and always responded promptly any questions we had. Fabian professionalism made process a breeze. Very professional and responsible. Not only was he patient to understand our situation, he was able to provide precise questions and non-biased answers. Fees and Payment Modes for Check Annual Value of Property Each search costs $2.50 (inclusive of GST). The whole process of loan application was made easy because of him. Good step by step guidance, on applications. You have to pay a processing fee of $120 (including GST) to HDB. We worked with Gary Lim.He was quick at responding, eager to help ensure we got what we needed to close our deal. keep up the awesome work aptitude and I highly recommend him. However, property owners can also check the current AV rates at any time from the Inland Revenue Authority of Singapore (IRAS) at any time by logging into their website. Here is a table listing out the median annual values and corresponding property taxes by HDB type. You can see what are the nearby blocks here:HDB Map Services. He had provided a very good option for me to select the refinancing option with a bank. 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. Garry is the consultant, whom I had liaised with. Would like to thank Leonard Cheah for tirelessly getting us the best rates and constantly attending to our queries. is always available when help is needed, he is always timely and fast response. Having a property agent check for you. 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. No time to read, search and analyze your flat value data? The timely response and follow up made his service stand out. What is a Zestimate? She is friendly and always prompt in her responses. Fabian promptly contacted me and shared with my wife and I the options. Jasper Eng assisted with my refinancing needs and he made the whole process very smooth and easy. is what matters. information only on official secure websites. Find out how to manage the payment matters for your HDB housing loan using these instructions, guidelines, and tools. 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. was also accommodating with our schedules. You can submit an application, submit an online enquiry, or make an appointment with us. You can find out more about the types of HDB car parks, important car park information, and parking offences. Most importantly I was able to complete the entire loan process quickly and effortlessly with his help. Garry was super helpful n prompt in the entire process. and correctly. After granting the Option to Purchase, sellers will need to agree to undergo HDB Valuation procedures. Find out more about the differences here. As I am relocating out of the country, she also helped to quickly expedite the appts for lawyer, valuer and disbursement of the loan. Follow up was quick and managed to settle. me through the process. All questions and. He did it in a very professional way and not force selling. Kudos to Thea Low on assisting me on refinancing my condo unit loan smoothly and with very good loan deal package! If you are looking for the best value for yourself, do check out our HDB selling service at very Negotiable Commission Rates. After entering your address including property type (you will need to enter all fields) - click on "Calculate X-Value" to see the estimated valuation of your HDB flat. Garry is professional and got us the best deal in town at that time. Fabian shown his expertise. 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. explanation. provided answers to my queries promptly and correctly. The value is usually derived by factoring in the average price of properties similar to yours that have been bought and sold in your area. He was patient to understand my needs and advised me with the right offers for me. If you have not heard of this before, it is the SRX X-Value. Will definitely. He also justify the reasons on the pros and cons of these two rates. information only on official secure websites. The AV revision is part of IRAS' annual review of properties to compute the property tax payable. Sin Ling from FinanceGuru helped us with our home loan refinancing. When I started trading in Bitcoin (BTC) a few months ago, I really didn't have the needed tools to trade and I had, losses a lot until I met Mr Danny A Stewart who taught me all about trading market strategies as he managed my account for me. 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. 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. Step 4: Check the outcome of the HDB valuation whether it matches or is below the sale price. He also. In short, Gary is helpful, always think of my interest and eventually got me the most suitable housing loan saving me hours of research. He came prepared with comparisons of the. Professional service with sound advice, for a peace of mind! Greatly appreciated her, help in guiding me to fill up the application form and answer my queries. 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 buyers can check the status of the Request for Value via HDB Resale Portal. Case Study 1: 4-Room HDB Flat for Own Stay. HDB will then decide whether a valuation of the flat is required to determine the value of the flat. 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. Add Now X-Value automated valuation serves as a guide for general reference. Otherwise, you will have to submit a new Request for Value for the same transaction, You have to wait for the outcome of the Request for Value before you may exercise the OTP during the Option Period. Once youve received the valuation figure, you should submit your resale application as soon as possible. More than homes, our HDB towns are vibrant places to enjoy to the fullest. X-Value Generated by Singaporeans Painless and fast process. I was able to pinpoint the most suitable home loan rate due to prompt and reliable reply. Find out about the Home Protection Scheme here. The seller will then have to grant you an Option to Purchase. (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). Garry answered my queries patiently, promptly and correctly and best thing is I saved my interest for my house. Something to take note of is that these online tools offer an indicative value, which is an estimation. In the past, processes were different as the selling price of the HDB was decided only after the HDB Valuation. Learn more about how you can optimise your home loan and uncover potential ways to save you money and time. To maximise your financial goals, our experts will work with you to ensure that your consultation is specifically tailored to meet your needs and wants. Highly recommend yuci and financeguru! It was such a great experience with the service provided by Fabian, from FinanceGuru. He cleared all our queries promptly and correctly. This is one of the most popular valuation tool among property buyers and property agents. Following this, HDB ceased publishing COV figures online. He handheld us throughout the loan application, making it very easy. It was easier to work on the loan and insurance with her help. We would like to thank Fabian Li for guiding us to refinance my Home Loan. Our questions & doubts are also well answered. Extremely responsive and responsible consultants. Paid accounts with property sites. Step 5A: Valuation matches - Exercise the OTP by making the cash/cheque payment to the seller. With the revision in AVs, all one-room and . The outcome is typically available within 10 working days from the date of your request. Garry was extremely accomodating, helpful and prompt in responding to my queries and requests. patient and took time to understand the situation before speaking to his team of bankers. You can discover how we promise to give you the best HDB selling experience here. Garry was very active and efficient in following up my request and provided me useful info to make decision on bank selection to refinance with. All transacted prices are transparently published on HDBs website. And the important thing his rates r the best! Depending on when you apply and the SOR/SIBOR rates, your choice of a bank loan or HDB loan could be a wise or unwise decision. Learn about the eligibility conditions for buying a flat and your financing options, and be guided on your flat buying journey. I'm very pleased to have Garry Lim from FinanceGuru help me secure my refinance loan at an attractive rate. Let's say that you and the seller have agreed on the selling price of $725,000. React to request fast. On the other hand, bank housing loans are only allowed to lend up to 75% of the homes value. Very fast and prompt consultant Gary Lim. On the other hand, bank housing loans are only allowed to lend up to 75% of the home's value. I chanced upon Financeguru. Looking at the data, it should be a no-brainer to determine your flats estimated selling price. 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. Mark had been the most helpful and always willing to go the extra mile. Fast, responsive & professional. 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 Jasper helped me with my home loan when I bought my place. 1st time using FinanceGuru and im impressed by the service that Garry has provided. He was. Learn about the various types of season parking you can apply for if you require a long-term parking arrangement. This service enables you to check the transacted prices for resale flats within the past 2 years. He always provide answer to my queries promptly and correctly. Garry was helpful and responsive throughout the entire process. COV is the difference between the HDB flats assessed value and the agreed price that the buyer is willing to pay. 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. and SingPass to proceed with the submission.Step 3: Follow the step-by-step guide on HDB e-Service.Step 4: You can check the status of your Request-for-Value via HDB Resale Portal. I was served by. Fabian has been very professional and followed through my case diligently. Highly recommended, Special thanks to Mark for the effort, always willing to go the extra miles to find the best deal for me. In this event, the housing loan amount granted by HDB or any bank/financial institution and the use of CPF savings for the purchase of the flat will be based on the new value determined via the new request. Here, well give you a breakdown of what the HDB Valuation is about and how you should go about applying for it. The data is based on registered resale applications, and is updated daily. But coming back to reality, lets show you another easier way that can instantly show you the estimated value of your flat without any analytical or guessing work. Garry was extremely helpful, approachable, polite and knowledgeable. Was assisted by Garry on refinancing my mortgage loan.Highly recommend Garry, as he is patient & always think of our, best interest by getting us the most suitable home loan rates.He assisted us throughout the whole process. There was at no point in time that we felt the pressure to commit. Share sensitive 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. 11pm. Get a non-obligatory assessment and loan product recommendations today.. You can submit an application, submit an online enquiry, or make an appointment with us. Property Tax Rates. He is patience to answer all our questions and able to give us a clear. Garry is a super patient advisor who did not mind restructuring my loan 3 times in a week!He always listen to the. Thumbs up for such wonderful service and highly recommended. This would mean that the COV is $50,000, and the buyer would have to settle this amount with the seller in cash. Do credit history matter when you apply for a home loan in Singapore? It made our experience really good & hassle free. available given our situation. If the rate is the same for these similar companies, dont you agree with me that service will be the next important factor? Garry was very patient, guiding step by step along the application process. Thank you for all your hardwork and assistance! thanks a million Garry , Was served by Garry. Will. You wont be able to use CPF or home loans to cover this amount, and youll need to pay the balance to the seller. You will need to obtain approval from HDBto rent out your whole flat or spare bedrooms. always offer relevant advice when communicating with us. The HDB property valuation will determine the amount of CPF savings, housing loan, and the COV to pay for your resale flat. As a result, this caused prices to shoot up drastically and made HDB flats more expensive than they should be. He is friendly and very helpful throughout the entire process. HDB resale properties located in areas poised to benefit from URA announced expansion and development. websites (e.g. Thumbs up for the great services Fabian provided. Shopping in Your Neighbourhood. After the Seller grants an Option to Purchase to the Buyer, a Request-for-Value may be submitted by the Buyer the next working day by logging into. Hope this solves your issue. Past years' data from 1990 onwards is available at. Take, for instance, the seller and buyers agreed price is $750,000. enquiries with prompt response. There is so much in place for you to bond with your neighbours and create an active and cohesive community. Before you buy a new or resale flat, check the eligibility conditions to make sure you qualify. I did not make a quick decision when he 1st approached me but he patiently follow up with me on the latest rate. Will definitely engage them again when it's time for me to refinance my home loan! At least got to refinance with better deal and get to know a friend.. i fb-ed FinanceGuru and was attended by Fabian. He has been very prompt in helping out with my loan transition and constantly. The determined value of the flat will also be used as a reference point for housing loan applications from HDB and the bank. my queries. The processing fee for each Request for Value is $120 (GST inclusive), paid for by the buyer. Thanks again fabian. answers to my queries.I do not have to worry about not getting the best rates as Jasper will think of our best interest and find the most suitable home loan rates. service. His wealth of experience and sincererity eases the anxiety that I had. Ill definitely recommend anyone to reach out to him if you are looking for financial service! tooHandheld me throughout the whole loan application process and made mortgage loan so much easier and less hassle. 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. best advise and solution on cost saving for my properties. Jay Lim Associate Marketing Director CPF usage and home loans are only based on HDB Valuation figures or agreed price (whichever is lower), and they dont apply to the COV figures. For a start on where you can look at, most HDB related information can be found on your 'My HDB' page. Get the information you need for any business involving HDB homes, properties, commercial spaces, or land under our management. He was patient, prompt, responsive and. Whether you are buying, selling, or already living in an HDB flat, everything you need to know about residential properties is housed here. Government agencies communicate via response and great insight in the property market. I truly appreciated for his timely response and most importantly, not pushy!As a satisfied client, I highly recommend Fabian and his team. He helped me. In order to meet our deadlines, she went above and beyond to help us find a solution.The promptness and speed of her responses impressed me the most. Besides property loan, he also recommended us a good law firm and mortgage insurer. They know what they are talking about and that. Free Tool #2: EdgeProp Fair Value Tool For this tool, you will need to enter your block number, floor area and size of flat to pull out an estimated value. Fast forward, Fabian kept on top of things and ensured it was a smooth process between various parties (bankers, legal, hdb). Upon submitting the Request-for-Value, you agree to accept HDBs decision and the valuation conducted by HDBs assigned valuer. Great work from Garry LimHe was patient in advising us the best option for my house loan. The valuation figure will remain valid for 3 months from the day its published on the HDB Resale Portal. good and honest service by jasper and angeline! Garry is very friendly and helpful. Before you can apply for the HDB Valuation, youll first need to come to an agreement with the seller. Not only thinking of our interest he helps us throughout the loan application and make it so easy. You must submit the Request for Value via the HDB Resale Portal by the next working day after the Option Date, together with a scanned copy of Page 1 of the OTP. thumb up, Had checked out several mortgage brokers & found Garry service good & prompt. 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. Again, best to check via IRAS myTax. go.gov.sg/open). Simply put, your sale proceeds from selling your flat is the purchase price that you set, less the following if applicable: 1. He willingly went an extra. With patience and value added services we are very thankful that we made the right decision. After the sellers have granted you an Option to Purchase (OTP), the Option Period will commence from the Option Date, i.e., the date of granting the OTP. He is very patient and explain the application to me in detail and also propose/suggest the best package to my need. Two thumbs up for his service! 111 North Bridge Road #13-02 Peninsula Plaza Singapore 179098, For HDB housing loans, you can loan up to 90% of the purchase price/property value, Get a non-obligatory assessment and loan product recommendations today., Private and Landed Property Guide in Singapore: 5 things to take note of when buying a landed property, Private and Landed Property Guide in Singapore: 6 types of private and landed properties, Private and Landed Property Guide in Singapore 2022: Buying property as a foreigner. An HDB resale property with a limited supply of nearby HDB resale flats in order to reduce competition. 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. Free Home Value Estimator | Zillow How much is my home worth? Very appreciative of his timely. Strongly recommend for anyone looking to save the hassle and to get the best deal, look for Gary. Trusted websites. Most of all, she always had my best interest and negotiated on my behalf for a lower interest rate.Highly recommended! You need to verify your mobile number to calculate X-Value. I engaged with FinanceGuru to purchase my investment property after comparing between a few of the online mortgage. The Housing & Development Board (HDB) is Singapore's public housing authority and a statutory board under the Ministry of National Development. 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