Finance Here’s Why A Property Valuation Is A Big Deal When Getting Your Home Loan

  • May 10, 2020
  • 6 min read
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Ryan J

Ryan is an old school print journalist gone digital. He's lived in almost every type of housing in Singapore, from flats to landed homes. Over the past 18 years, he's been a content developer for companies large and small, a co-founder in an education business, and sometimes a voice on the radio. He also spends too much time and money on painting little plastic soldiers.

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Mindy Saw
Mindy Saw

Hi, need help to find a bank that will provide a higher valuation to match my asking price. The difference is abt 25k

Ken
Ken

Help me understand any other downsides to a lower bank valuation compared to the price you pay. I know that stamp duty is based on the higher value, so you’ll end up paying the stamp duty based on the price you pay, that sucks. But, if you cover some of the cash that your bank doesn’t loan, then your monthly payments are lower (might be considered an upside, no?). Perhaps another downside is when you resell it, you might not make a lot back because you overpaid for the property.

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