How much should I pay for valuation fees?

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

48 comments

  1. 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

  2. Chat Property Malaysia
    Author

    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

  3. 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
      Author

      Hi Ms Wee:

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

  4. 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
      Author

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

  5. 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!

  6. 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.

  7. 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
      Author

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

  8. 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.

  9. Ting

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

  10. 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..

  11. 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….

  12. 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.

  13. 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

  14. 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.

  15. 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

  16. 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?

  17. 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???

  18. 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
      Author

      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.

  19. 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
      Author

      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.

  20. 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
      Author

      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.

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