Buyers shouldn’t pay for valuation reports

IT HAS been the practice and requirement that an HDB valuation report is obtained for the sale of an HDB flat.

Most buyers are not aware that they do not have to pay for it. The sellers or their property agents have commonly pushed this cost to the buyers.

It is neither an HDB policy nor guideline that the buyer must bear the cost of the valuation report. It is entirely between the seller and the buyer and their agents who should pay for it.

The valuation report is usually requested by the seller or his agent. As the purpose is to market the property to interested buyers, it is therefore a marketing tool and part of the agent’s services.

Buyers should question and protest if this cost is passed to them.

Phyllis Law (Ms)

Source: Straits Times, 8 Apr 2010