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Home Buying

Asked by Ms. Chaw Myint 13 Jan 2014

What is 10K below valuation ? Does that mean Seller will give buyer 10K back ? Please, can anyone explain to me further ?

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Mike Lim · Answer 1 · 2014-01-14T10:59:06+08:00

Mike Lim

Replied 14 Jan 2014

Morning Ms. Chew, When we are talking $10k below value, it would be referring to resale property. Assuming that the valuation is at $400k, the seller is willing to sell the unit at $390k. Hence you will only need to loan based on that figure and come out with lesser cash, if you are taking bank loan. Cashback is against the law. FYI Mike Lim 96929209 m52i@yahoo.com ERA Read More

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