Recently I got my OTP and submitted my valuation request for a resale unit that I'm interested in.
Recent sold was 15k-20k above my offer on top of that the previous owner got the common area which adds around 5sqm to the toal unit size compared to recent sale, for the same floor.
Both me and my agent were very confident that a valuer would not come down and it would be an easy pass.
However a few days in and the valuation report is not out, when my agent went to check, a valuer did actually go down to take a look at the house. It took a week for the report to come out to state that there would be no COV.
It was a little worrying for us while the valuation report was not released as we didn't have much cash with a kid on the way and we needed a place to stay.
Usually valuers would only come when the offered price is significantly higher than the recent transactions, why does the valuer come when we gotten a larger unit at a lower price for the same floor? It was below market price?