Siva Raj FHG

The First Step of selling your house is to check the Market Value of the property. People always misunderstood that REN will determine the value of your house but its actually determined by Property Valuer.
Sometimes we can see some property owners try to sell their houses above Market Value and faces difficulties in selling their property.

Why is it important to check the Market Value?

✅Banks only provide loan based on the market value. For example, if the property value is RM250K, bank will only sanction that amount only.

✅If the owner sells the property for RM300K , the buyer have to arrange extra RM50K cash to buy the house.

✅If let say the buyer only get 90% loan, the buyer have to arrange 10% downpayment and also RM50K cash extra. This doesnt include the legal fees that will cost around 12K and also other expenses.

✅In this current economic situation and the Malaysian wages that just enough to cover basic expenses, buyers will face difficulties to arrange RM90K for a house.

Bearing in mind , that many Malaysian had to withdraw their EPF money by i-Sinar/ i-Suri during pandemic to cover their basic needs due to financial crisis.

So these are the reason to that you cant sell your house above Market Value.

Its not impossible to sell.

But if the house is worth over Market Value, for example fully renovated and in very good shape.
It would easier to sell above Market Value.

Otherwise, if the house is just standard without renovation and faults not repaired, no one would consider to buy above Market Value.

If you want to check your property Market Value, feel free to contact me :

Siva Raj
☎️+6018784796

Siva Raj Business Account