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June 28, 2023
Valuation report
REQUESTS FOR VALUE OF FLAT
Buyers who are financing the purchase of the flat with CPF savings or a housing loan from HDB or bank/financial institution must submit a Request for Value to HDB to determine the value of the flat which forms the basis for their CPF usage or bank loan.
Only buyers who have been granted an Option to Purchase shall submit a Request for Value. Buyers must (by themselves in the HDB Resale Portal or through their agent via the e-Resale System or Estate Agent Toolkit) submit the Request for Value by the next working day* after the Option Date. Scanned copies of page 1 of the Option to Purchase must be attached with the request.
They will need to pay a non-refundable processing fee of $120 (including GST) to HDB.
HDB will decide whether a valuation of the flat is required to determine the value of the flat. If HDB requires a valuation of the flat, HDB will assign any of the private valuation firms on HDB’s Panel of Valuers to conduct the valuation.
If the valuation of the flat is required by HDB, the sellers must, within three (3) working days* after the day the buyers submit the Request for Value, allow the HDB assigned valuer to enter and inspect the flat for the valuation.
The buyers can check the status of the Request for Value from the HDB Resale Portal. HDB will inform the buyers via email once the value of the flat is available in the HDB Resale Portal.
The value of the flat is only applicable to the specific Option to Purchase and is not valid for use in another resale transaction. The buyers of the flat as stated in the Option to Purchase, Request for Value and resale application must be the same.
Buyers under a different Option to Purchase for the same flat must submit a new Request for Value.
The value of the flat will remain valid for a period of 3 months from the day it is made available in the HDB Resale Portal. If the buyers do not submit a resale application within the 3-month validity period, they will have to submit a new Request for Value. In this event, the housing loan amount to be granted by HDB or bank/financial institution and the use of CPF savings for the purchase of the flat will be based on the value of the flat determined via the new Request for Value.
Click on the FAQ below to find out more
If you intend to use your CPF money and/or housing loan to finance the flat purchase, you must submit a Request for Value to HDB to determine the value which forms the basis for your CPF usage and/or the reference for a housing loan from HDB or bank/ financial institution, unless otherwise advised by the bank/ financial institution.
You (or your salesperson) must submit the Request for Value together with a scanned copy of Page 1 of the Option to Purchase (OTP), by the next working day * after seller has granted you an OTP. (*Monday to Friday, which is not a Public Holiday).
You will need to provide the following:
• Address of the flat you intend to buy
• Option to Purchase details (Option Grant Date, Purchase Price, Option Fee and Option to Purchase Serial Number)
• Scanned copy copies of Page 1 of the Option to Purchase
• Name, NRIC number, contact number of all flat sellers and email address of 1 flat seller
• Name, NRIC number, contact number of all flat buyers and email address of 1 flat buyer
The Request for Value is valid for a period of 3 months from the day it is made available in the HDB Resale Portal.
No. The Request for Value of the flat is only valid for the Option To Purchase granted by the seller of the flat to you. It is not valid for use in another resale transaction for the same flat involving the same buyer under a different Option to Purchase, or another buyer of the flat.
No. You can only submit one Request for Value for each flat and it has to be submitted by the next working day after the flat sellers have granted an Option to Purchase (OTP) to you.
The processing fee for the request is $120 (inclusive of GST) and covers the administrative costs incurred by HDB to conduct a review and decide on a value for determining the CPF usage and home loan limits. It is a standard fee payable by all flat buyers, regardless of whether or not a valuation is required by HDB.