Property validation - big difference!

Choose another bank - there are more than 30 in HK. Each of them will give you a different valuation. Or get a mortgage broker to do that legwork for you (no charge to you). See, for example:

http://www.mreferral.com/english/service.html

I second Burgundy's recommendation of mreferral.com - really helpful people there. Am just going through the process of applying with a bank I would not have thought of at all without their help. They took the asking price as the valuation intially, but then we have to pay for a valuer to look at the property before 'drawdown' date. ($3500).


I understand the valuation is based on what properties around yours were last sold for..if no properties have sold in your building for about 12- 18 months then the valuation will be lower as prices were lower. negotiate a better price for the flat based on this valuation.

Different banks give different valuations because they take different views on how much risk they are willing to take on any particular properties. They also use different surveyors.


Shop around if you want to get a "better deal" from banks or go to any mortgage agency like mrefferal.


If you want to evaluate how much a property is worth, or perhaps more importantly, how much it will worth, then you should take the following into consideration:

- recent transactions in the same buildings, compare similar units.

- local supplies, similar units in other buildings in the same area, any new developments coming on to the market.

- other factors - views, roof/terrace unique to the unit.


A good agent should really be able to tell you all that. Good luck!