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?
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
john S
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
Chat Property Malaysia
AuthorHi John, you may ask the details why the valuation fees is higher than expected.
CK LEow
Hi John,
I valued a RM500k house, the fee about 1k plus. Yours is much too high.
Chat Property Malaysia
AuthorRecently, I had done a valuation for RM530K in Penang, the fees is RM1050. As mentioned by CK Leow, yours seem to be too high
ms lim
My property cost RM41000 and valuer charge me for rm1200 after discount. Is it reasonable?
ms lim
410,000
Chat Property Malaysia
AuthorYou may calculate based on the information given. If there is any deviation,please do consult your valuer. Above article is just a guide and each state/valuer has slight different rate.
Celine
I would like to check, can the valuer/ banker tell the estimated price of the house before the buyer get the loan?
Chat Property Malaysia
AuthorYes, valuer can give the estimated price of the house
Oscar
Any different on valuation fees charges between resident properties and factory land?
Chat Property Malaysia
AuthorI believe there is different. I do not have experience in factory land at the moment.
Aaa
I had refinance my house for Rm150k and the bank valuer charged me Rm1100.So expensive right!
Chat Property Malaysia
AuthorHi, you need to check with your bank valuer for details breakdown on the charges
MS WEE
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
AuthorHi Ms Wee:
There is minimum fees, but I do not have idea as different state, different company will have slightly different charges.
Margie Salim
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 ?
Chat Property Malaysia
AuthorYou have to ask around. Different country have different of policy.
ANon
yes that is considered very very cheap.
len
my house was valued rm1,250,000. the valuer charged me rm2,200. commend please.
Chat Property Malaysia
AuthorHi Len:
Pls do check with your valuer for details breakdown.
John
Hi.. its look cheaper.. can u give their contact number
Ikaria
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
Authoryou may check with your valuer on the details breakdown, alternatively you may look for another valuer and do a comparison
Shalini
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!
Maswady Maskin
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.
Chat Property Malaysia
AuthorI believe the valuer do not do title search. What valuer do is just the valuation of the property.
Mazipan
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
AuthorI do not have any idea if it is reasonable. You may ask for few more valuer for quotations and compare.
Goh Eng Kia
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.
Chat Property Malaysia
AuthorYou may ask recommendation from the banker. They do have their panel valuer
Ting
My house is top up loan
House value rm410k
Valuation fee is RM1300
She say RM870+ reimbursement +gst
Iszit reasonable?
Thank you
Chat Property Malaysia
Authorno commetn as do not understand what is “reimbursement” here
ANon
ask for discount. maximum discount is 10%. im a valuer.
Kintaro
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..
harris
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….
Chat Property Malaysia
AuthorYou may ask for the break down of the cost.
chokkalingam
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.
Tew
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
Chat Property Malaysia
AuthorYes, valuation is required
Michelle
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.
Chat Property Malaysia
AuthorHi Michelle:
I do not quite understand your question.
MS LIM
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
Chat Property Malaysia
AuthorDear Ms Lim, the best person to consult is your lawyer.
MrGlenn
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?
Chat Property Malaysia
AuthorYou can used any approved valuators.
Aman
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???
Chat Property Malaysia
AuthorThe valuation fees is based on the Market value of the property
ZAMANHURI
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
AuthorYes, 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.
ZAMANHURI
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
AuthorYes, 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.
Wan norhanis Wan jehari
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
AuthorHi:
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.
Jenny
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!
Chat Property Malaysia
AuthorI do not think so.
NAVARATNAM A/L THIRUNAVUKKARASAN
If I would like to evaluate my property in JPPH office, how much would it cost and is there any charges?
Chat Property Malaysia
AuthorHi:
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.
Daphne
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
AuthorHi Daphne:
You always can ask for more details break down for the fees charges.
Then you can ask for alternative valuator for comparisons.
Vincent Lau
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!
Cofkkin
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
AuthorHi:
I am not sure what is the reason behind.
You may ask details from your lawyer for clarification.
Jacquelyn
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
AuthorHI Jacquelyn:
You may refer to the below post for comparison:
https://www.chatpropertymalaysia.com/how-much-should-i-pay-for-valuation-fees/
KM
May I know where can I get a list of valuers?
Chat Property Malaysia
AuthorYou may ask from your banker or property agents.
Jessica
Hi My valuer ask me to pay first before they go do the valuation. Is that correct process? Do i need to pay first?
Chat Property Malaysia
AuthorHi Jessica:
I do not think any different if pay first or later.
The valuation company have their own business ethic so far.
SALLY
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
AuthorDear 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
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?
Tabitha
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.
Chat Property Malaysia
AuthorCan ask from your agents or bankers
Tabitha
Hi. I dont have agent or banker. Where else can I find list of certiifed property valuers please?
Sr Ery Zuwardi Anuar
Please go to Board of Valuers, Appraisers, Estate Agents & Property Managers (BOVEAP) website if you need information on Registered Valuers, Estate Agents & Property Managers.
Lim
is the valuation of a property is a must?
Chat Property Malaysia
AuthorIf you opt for bank loan, answer is YES
Hafiz
Can we change valuer?Is there extra cost ?
Cris
Hi,
I just bought a property amount RM 342000, the valuation fees cost RM 900, may I know is this figure reasonable?
thanks.
Chat Property Malaysia
AuthorHi Cris:
If according to the calculation, it is reasonable.
Marx
Can I know the company nama that valuer. Coz im looking also for refinancing my home
Chat Property Malaysia
AuthorDo check out with your banker as every area has their own valuer.
Zarifah
Hi..I just bought a house for RM130k but the valuer charge me RM1,100. I think they over charge me. Any advise? Thanks.
Chat Property Malaysia
AuthorHi Zarifah:
Based on calculation, obviously it is over charge.
Zarifah
Hi…I just bought a house for RM130k, but the valuer charge me RM1,100. I think they over charge me. Any advise? Thanks
Salini
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
AuthorHi Salini,
You may discussed with the valuer why there is a gap in this. You may ask for the breakdown.
Vincen
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
AuthorUsed 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
TAMMY
HOW BOUT IF THE HOUSE IS BELOW RM100K.. ONLY PAY MINIMUM RM400 PLUS 6%
Chat Property Malaysia
AuthorYou are right.
Din
Im bought property around 150k but the valuer charge me rm1250.. Its resoanable? Help me..
Chat Property Malaysia
AuthorRefer to the calculations table in the article
shawn
the calculation table is valid? what reference?
Hasni
Anyway i can the value of house in that particular area before i decide to buy?
Chat Property Malaysia
AuthorThere are few sources such as check online, ask the agents, ask the bankers, ask valuers etc.
Shalini
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
Chat Property Malaysia
AuthorNormally is based on the agreed purchased price. Not based on the valuation price
NANA
Hi, I think I am overcharged for the fees, can I choose different valuer company rather than take what bank provide to me?
Chat Property Malaysia
Authoryou may talk to the bank and get advice
Jasdave Singh
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?
Chat Property Malaysia
Authoryou may get second quote from another lawyer. otherwise, do negotiate with the lawyer
kahleongloh
Buyer or seller should pay the evaluation fee?
Chat Property Malaysia
Authornormally is the buyer
Yvonne Yau
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.
Yvonne Yau
https://propmalaysia.com/property-malaysia/how-much-should-i-pay-for-valuation-fees/
this is online valuation fee calculator..for easy reference..
Sashi
If i bought a house for rm720k and the house valued at rm800k how much my valuation fee will be cost. Kindly advice.
Chat Property Malaysia
AuthorThe cost of valuation will be depend on the S&P price. If it is written 720K, then valuation will be based on 720K.
Pie
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.
Chat Property Malaysia
AuthorYou may get few quotation for comparison.