Valuations - Q & A.


 
Why do I need to get a valuation for the property I am buying?
 
 

If you are applying for a mortgage you will need a valuation on the property for the bank to determine what they will loan you.

 
Why do I need to get a valuation for the property I am buying?

If you are applying for a mortgage you will need a valuation on the property for the bank to determine what they will loan you.

Back
 
What happens if the valuation comes in less than my offer?
 
 

Remember the bank will only provide you with a mortgage up to a percentage of the valuation - this varies by bank.
If the valuation is less than your offer - you can stay with your offer, reduce your offer or revoke your offer if the mortgage being offered is not sufficient to cover your purchase.

 
What happens if the valuation comes in less than my offer?

Remember the bank will only provide you with a mortgage up to a percentage of the valuation - this varies by bank.
If the valuation is less than your offer - you can stay with your offer, reduce your offer or revoke your offer if the mortgage being offered is not sufficient to cover your purchase.

Back
 
What happens if the valuation comes in more than my offer?
 
 

This is a good thing and generally means that you have put in a well thought out offer and that you are buying a property that is valued at more than you are paying.

 
What happens if the valuation comes in more than my offer?

This is a good thing and generally means that you have put in a well thought out offer and that you are buying a property that is valued at more than you are paying.

Back