How much should I pay for valuation fees?

June 2, 2015 110 comments 102221 Finance

After the loan to purchase a property was approved by bank and signed the SNP by buyer, the bank will appoint a valuation company to conduct a valuation report for Application of Credit Facility. All the cost of valuation will be borne by the buyer. As a buyer, do you know how much should pay for the valuation fees?

valuation-fees

Here is how valuation fees calculate base on the property you purchased:-

For First RM100K =0.25%
Next residue up to RM2 mil = 0.2%
Next residue up to RM7 mil = 0.167%
Next residue up to RM15 mil = 0.125%
Next residue up to RM50 mil = 0.10%
Next residue up to RM200 mil = 0.067%
Next residue up to RM500 mil = 0.05%
Next residue more than RM500 mil = 0.04%

Minimum Fee : As above, subject to a minimum fee of RM 400 per property.

Example 1

House value at RM 400K
Valuation Fees Calculation:
a. First RM 100K = RM 100,000 x 0.25% = RM 250
b. Residue = (RM 400,000 – RM 100,000)x 0.2% = RM 600
c. Total Valuation Fees = RM 250 + RM 600 = RM 850

Example 2

House value at RM 135K
Valuation Fees Calculation:
a. First RM100K = RM 100,000 x 0.25% = RM 250
b. Residue = (RM 135,000 – RM 100,000)x 0.2% = RM 70
c. Total Valuation Fees = RM 250 + RM 70 = RM 320

However, the minimum fee is RM 400 per property. Therefore, the house value at RM 135k, valuation fees is around RM 400.  This amount may not include the 6% GST and transport & documents charges.
Note: Valuation fees are for reference only. It may vary with actual valuation fees. It also may have different cost base on the location of the property. I have a study where valuation fees is much expensive at mainland Butterworth compare to Penang Island.

Source: www.jurunilai.com.my

About Chat Property Malaysia

110 comments

  1. john S
    September 7, 2015 at 12:25 pm - Reply

    I have just purchased a condominium in selayang Batu Caves for RM185,000 but taking a bank loan for RM143955.00 my Bank valuer is charging me RM950.00 .

    The Bank solicitor are charging me a fee including disbursements RM5235.72

    I feel both the valuation and legal fees seem rather high.

    Kindly comment Tq

  3. Chat Property Malaysia
    Author
    October 10, 2015 at 9:07 am - Reply

    Recently, I had done a valuation for RM530K in Penang, the fees is RM1050. As mentioned by CK Leow, yours seem to be too high

  8. MS WEE
    September 30, 2016 at 9:51 am - Reply

    I WOULD LIKE TO CHECK.. IS IT NOW MALAYSIA VALUER FEE MIN RM650.00?

    I BUY A MEDIUM COST APARTMENT RM 145,000.00,
    THE VALUER CHARGE ME RM 650.00 IS IT REASONABLE?

    • Chat Property Malaysia
      Author
      October 22, 2016 at 9:40 pm - Reply

      Hi Ms Wee:

      There is minimum fees, but I do not have idea as different state, different company will have slightly different charges.

      • Margie Salim
        May 24, 2021 at 3:43 pm - Reply

        Hi , I have just enquired about valuation. The size of my apartment is 1585 sq feet . 3+1 bedrooms, 2 car parks . The valuation fee is RM 1200. Is it about right ?

        Like in the UK which I am now residing , we can get free valuation. Isn’t there one in Kuala Lumpur or cheaper valuation companies to do this ?

  10. Ikaria
    October 24, 2016 at 5:14 pm - Reply

    Hi,
    I would appreciate if anyone could shed some light onto my case.
    I bought a house in tasik puteri Selangor for 250,000.00 which the valuer quote me RM 1100.00 is this reasonable?
    Or could anyone advise me where I can get a better deal?

    • Chat Property Malaysia
      Author
      October 28, 2016 at 10:55 pm - Reply

      you may check with your valuer on the details breakdown, alternatively you may look for another valuer and do a comparison

  11. Shalini
    November 2, 2016 at 5:36 pm - Reply

    I am planning to sell my apartment currently which I roughly quoted at certain amount. I have got a buyer through an agent who does not want to reveal the details of which bank is doing the valuation. How shall I go about to find out what is the real valuation for my property as not to rely to much on what the agent is saying!

  12. Maswady Maskin
    December 5, 2016 at 5:46 pm - Reply

    Hi, you are mentioned about the valuation fees. Is it all in? How about the printing, mileage, telephone, fax, postage cost?
    Why Valuer need to do the title search, which has been done by the lawyer. All the cost to be paid by the buyer. Meaning to say buyer paid double the same thing for each party i.e. Lawyer, Valuer to do the same thing.

  13. Mazipan
    December 6, 2016 at 8:47 am - Reply

    Hi, I’m buying a landed properties cost RM420k in Malacca,and considered to take Maybank Islamic loan offer.
    Valuer from Maybank Islamic charge me RM1150 for valuation, from the details, there are RM70 for transportation and many miscellaneous items.
    Is this reasonable? How can I argue with them as they already done the valuation report.

    Thank you.

    • Chat Property Malaysia
      Author
      December 18, 2016 at 9:31 pm - Reply

      I do not have any idea if it is reasonable. You may ask for few more valuer for quotations and compare.

  14. Goh Eng Kia
    December 11, 2016 at 10:07 pm - Reply

    Need a property valuation report the property End Terrace in Johor, Nustral Sentral near Horizon Hill.

    Roughly how much is the valuation report? Who is the certified valuer I am approach for this service.

  15. Ting
    December 20, 2016 at 5:24 pm - Reply

    My house is top up loan
    House value rm410k
    Valuation fee is RM1300
    She say RM870+ reimbursement +gst
    Iszit reasonable?
    Thank you

  16. Kintaro
    January 4, 2017 at 11:23 am - Reply

    Just received phone call from valuer. They want to charge rm1.5k for rm420k house at rawang. New 2017 valuation fees rate maybe..I ask them for discount and email detail quote to me..

  17. harris
    January 4, 2017 at 5:11 pm - Reply

    my bank call me and tell me that i need to pay valuation fees for rm2157.00 for a rm500k house ? is that reasonable?? or expensive cause i feel like being cheated, i ask them why is it expensive they told me nothing instead they just say i need to pay the fees if not they not going to release the reimbursement money, i ask for discount they say cannot give disc….btw it is from bank rakyat….

  18. chokkalingam
    January 7, 2017 at 1:12 pm - Reply

    Hi:
    I am trying to find the value (market value) of a piece of land in Penang. 1/6 ownership of the land was transferred to me by the family trustees in July of 2010. We sold the total land in December of 2012 for RM18.5 million. What is you rough opinion of value then. I need this for tax purposes. If the value is reasonable, What will be you fee to create a report that the revenue service will accept.

  19. Tew
    February 16, 2017 at 2:09 pm - Reply

    is valuation mandatory in property purchase/sale ?
    i signed loan agreement with AmBank last friday , and got a call from valuer company saying that i should pay Rm950 for evaluation.
    Property price is 270k, buyer/seller both agree to deal in this price.
    Please advice

  20. Michelle
    March 3, 2017 at 11:10 am - Reply

    Valuer is charge me for the fee and also disbursement of $290. Property is $780K, total fee, valuation report is $1610, and after GST, total fee is $2,014. Why do I pay for disbursement? Please advise. Thanks.

  21. MS LIM
    March 8, 2017 at 9:59 pm - Reply

    hi,

    i would like to seek for advise in the event the snp has signed and the loan has approved and the valuation report has been done by valuer however unfortunately the transaction cannot be completed due to the rejection of the state consent by the land office.

    so who should pay for the valuation fees? since the loan will be cancelled?
    is not fair to the borrower to pay.

    awaiting ur soonest reply.

    thank you

  22. MrGlenn
    March 15, 2017 at 8:31 pm - Reply

    I bought a condo unit from the developer that is brand new, yet I’m told I need to pay valuation fee. The price was RM720,000. Yet the valuator from the bank contacted me and asked for a RM1700 valuation fee. I disagreed, since it was too high. Can I use a valuator from another bank?

  23. Aman
    March 23, 2017 at 3:45 pm - Reply

    I want to refinance my house. The valuer came and quote me RM1.4k. Market price is more than RM450k but refinance price is only RM200k. Is it (valuer fee) based on refinance or market price???

  24. ZAMANHURI
    May 8, 2017 at 9:34 am - Reply

    Morning to you Sir/Ms,

    I would like to justify my valuation fee. My loan approved by Ambank at 95K, recently one of well known valuer company quoted to me valuation fee of RM 900. Currently I am waiting for his report and quotation details.
    At the same time, I would like to know your opinion on this case.
    Thank you.

    Warm regards,
    zamanhuri

    • Chat Property Malaysia
      Author
      May 24, 2017 at 8:37 am - Reply

      Yes, you may approach another valuer company to compare the quotation.
      You may check with your banker if other valuer company is their panel or not.

  25. ZAMANHURI
    May 8, 2017 at 11:40 am - Reply

    Morning to you,

    I have purchase house at Kajang with 95K @90% loan by Ambank, but my valuation fee quotation was RM 900 and discounted RM 50 only. I would much appreciate if you could give some advise.
    1. Can I look for other valuer company?
    2. if the valuer company was not panel for Ambank, can still I proceed?

    Thank you for your time.

    Warm regards,
    Zamanhuri

    • Chat Property Malaysia
      Author
      May 24, 2017 at 8:36 am - Reply

      Yes, you may approach another valuer company to compare the quotation.
      You may check with your banker if other valuer company is their panel or not.

  26. Wan norhanis Wan jehari
    June 4, 2017 at 7:16 pm - Reply

    Hi can u help me;
    1. If the house valued at 400k, but sold to me at300k, the fee will be based on the house valued or price?
    2. Can u help to suggest the me valuer?

    Regards,
    Hanis

    • Chat Property Malaysia
      Author
      June 7, 2017 at 6:44 am - Reply

      Hi:

      Question 1: Valuer will be based on 400K, the fees will be charged based on 400K
      Question 2: Normally your banker will proposed a valuer to you, it depends on your locations and which bank.

  27. Jenny
    June 7, 2017 at 10:51 pm - Reply

    Hi, is it possible to get a Valuation Report for a building under construction (hasn’t handover keys)? If it is possible, where and how can I get it? Thanks!

  28. NAVARATNAM A/L THIRUNAVUKKARASAN
    June 27, 2017 at 6:02 pm - Reply

    If I would like to evaluate my property in JPPH office, how much would it cost and is there any charges?

    • Chat Property Malaysia
      Author
      July 9, 2017 at 8:52 am - Reply

      Hi:

      I trust you can do that. DO drop to JPPH and ask for details as I never done this before.
      Do share with me or the reader from you finding.

  29. Daphne
    July 3, 2017 at 8:30 pm - Reply

    Is it reasonable for house at Rawang with RM 600k and they charge me valuation fees RM 1800(before discount RM 2240)? Is from RHB Bank.. Can i get the market price for valuation fees?
    Please advice….
    Thanks!

    • Chat Property Malaysia
      Author
      July 9, 2017 at 8:51 am - Reply

      Hi Daphne:

      You always can ask for more details break down for the fees charges.
      Then you can ask for alternative valuator for comparisons.

  30. Vincent Lau
    August 22, 2017 at 11:25 am - Reply

    These valuation fees make no sense to me.

    Most professional services charge people based on hours spent to do a certain work. Surely the effort spent to value a house worth RM500k is the same as the effort on a RM700k house? Why should the higher house value pay more.

    And also, how can the fees be tied to the valuation? That means, the valuers would intentionally value the property slightly higher to get a higher fee!

  31. Cofkkin
    October 12, 2017 at 7:42 pm - Reply

    Hi,
    Recently purchase a house bank valuation is 400k, after we done all the nessenary docs and bank loan, lawyer called yesterday required to TOp up another 1k fees as government valuation is 450k.
    Is there a such case? I try to Google it but couldn’t get any info of government valuation??

    • Chat Property Malaysia
      Author
      October 22, 2017 at 9:56 pm - Reply

      Hi:

      I am not sure what is the reason behind.
      You may ask details from your lawyer for clarification.

  32. Jacquelyn
    November 17, 2017 at 10:10 pm - Reply

    Bought a house for 80k,bank ask the valuever to value the house after approven the valuever charge us for rm600, but for us it look a bit high ,may I know the price is it reasonal ?

    • Chat Property Malaysia
      Author
      December 31, 2017 at 9:31 am - Reply

      Hi Jessica:

      I do not think any different if pay first or later.
      The valuation company have their own business ethic so far.

  35. SALLY
    December 29, 2017 at 5:45 pm - Reply

    An apartment in Nilai market value is RM 200k,but the valuer charger RM 1050 for valuation fees. I think it is overpriced. After negotiating with the company, they offered RM 1000. I called the Banker, they told me they have their own price for that. From the breakdown, they charged RM 400 for the first 100k.
    1. Is the price reasonable?
    2. What can I do ? The agent refused to reduce the price and they are the bank panel valuer. I really not satisfied where some other companies offered RM 600+, and one of my friend only pay RM 1000 for RM 400k property.

    • Chat Property Malaysia
      Author
      December 31, 2017 at 9:28 am - Reply

      Dear Sally:

      I believed you may discussed again and to understand why it is so high compare to the standard. Also asked if you would like to have you own valuer.

      • SALLY
        January 4, 2018 at 6:25 pm - Reply

        I talked to the valuer, they told me because of my aprtment has strata title. That’s why they can’t give me any discount. May I know, is it correct that valuation fees will be higher when a property has strata title?

  36. Tabitha
    January 12, 2018 at 7:25 am - Reply

    Where can I get a list of valuers please? Where to check if the valuer is accredited? Is a soft copy of a valuation report acceptable? Is there such a thing? Thanks.

    • Sr Ery Zuwardi Anuar
      March 18, 2018 at 7:05 pm - Reply

      Please go to Board of Valuers, Appraisers, Estate Agents & Property Managers (BOVEAP) website if you need information on Registered Valuers, Estate Agents & Property Managers.

  41. Zarifah
    January 3, 2019 at 9:11 pm - Reply

    Hi..I just bought a house for RM130k but the valuer charge me RM1,100. I think they over charge me. Any advise? Thanks.

  42. Zarifah
    January 3, 2019 at 9:14 pm - Reply

    Hi…I just bought a house for RM130k, but the valuer charge me RM1,100. I think they over charge me. Any advise? Thanks

  43. Salini
    May 8, 2019 at 2:15 am - Reply

    Hi I bought an apartment at rawang country homes which cost rm200000 and the valuer mentioned the fee will cost less than rm1500.. Please advise.

    • Chat Property Malaysia
      Author
      May 12, 2019 at 9:59 am - Reply

      Hi Salini,
      You may discussed with the valuer why there is a gap in this. You may ask for the breakdown.

  44. Vincen
    July 16, 2019 at 10:43 am - Reply

    I bought a landed house RM600k. The bank valuer charge me RM1300 for all in fees. Is it expensive or consider okay?

    • Chat Property Malaysia
      Author
      August 1, 2019 at 9:50 pm - Reply

      Used the guideline as below:
      For First RM100K =0.25% (100,000 x 0.25%= 250)
      Next residue up to RM2 mil = 0.2%(500,000 x 0.2%= 1000)
      Total will be RM1250.

      As such, i will say, it is reasonable

  49. Shalini
    November 8, 2019 at 10:05 pm - Reply

    Hiii, m planning to buy single storey terrace hse in bandar baru sg buloh Jln 1D/2. Selling fr rm280 but loan rm250. Hw much agent shd charged Fr valuations property. Pls advice

  51. Jasdave Singh
    July 5, 2020 at 9:08 am - Reply

    Hi my house been value of 500K single story house in Bayan baru penang.. and i am been charge of

    Professional fee for value RM500K RM400 + 1/4 of RM100K RM250 + 1/5 of RM400K 800 total : 1,050.00
    add on mileage claim RM100.00 + SST 6% RM63.00 + Disbursement RM101.00 + Title Search RM30.00 + Plan RM6.00

    All total i been bill up of RM1350.00

    Is this fare bill?

  53. Yvonne Yau
    August 14, 2020 at 2:16 pm - Reply

    Hi,
    For the valuation fee, you may download the andriod or IOS app under PropertyX Malaysia Home loan or Valuation Fee calculator under the same developer.
    Normally bank wont allow changes of the valuer once loan or LI are approved. Some banks based on alphabetical order and some banks based on certain specific requirement and the valuers must be their bank panels.

    Refering to the valuation fee schedule (https://lppeh.gov.my/WP2016/fees/
    ), which excludes the SST and disbursement part. Disbursement includes travelling cost (distance and difficulty of accessing to the site), printing cost, postage/courier, title search (some others like assessment receipt prinout, site plan printout), sale data and other incidental costs. SST is taxable on disbursement too.
    Hope to clarify some of the questions in this list.

    • Chat Property Malaysia
      Author
      January 1, 2021 at 10:05 am - Reply

      The cost of valuation will be depend on the S&P price. If it is written 720K, then valuation will be based on 720K.

  55. Pie
    January 11, 2021 at 11:08 am - Reply

    Hi,

    house valed RM280K , the valuation fees are professional fees RM 566.04 + DISBURSEMENT
    (Printing / Telephone / Fax / Postage / Search / Mileage & misc) RM500 + SST 6% RM33.95 = RM1100.

    may I know is this figure reasonable?
    thanks.

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