But does it change the resale market at all?
My stand is no.
HDB is merely shifting the valuation report to a later stage and perhaps avoid the situation of sellers requesting for a new valuation report (some sellers are unable to sell their flats for more than three months despite offering to go below valuation). However buyers and sellers can still call any HDB appointed valuer and request for an indicative valuation (with no liability on the valuer). But at the end of the day, the valuer might not be the one who carries out the valuation. Seasoned real estate salespersons can also advise buyers and sellers on the value. It really depends on whether buyers and sellers want to use the published HDB prices, the indicative valuation or real estate salesperson's advice since either value is not confirmed/endorsed by HDB.
This practice of requesting for a valuation report after an option has been granted in the private property market has in most instances seen valuers matching the agreed price. If the same situation is to happen in the resale market where valuers match the agreed price, it serves to stop the slide in HDB resale prices.
Another reason why HDB is changing the whole procedures is probably because it is taking longer than three months for some HDB flats to be sold. Valuation reports are only valid for three months and sellers have to request for another valuation report.
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| Source: MND |
