A previuos thread i’v lost,suggested a tactic to use loc funds to buy an i.p. outright,add value, then get valued & then utilise the extra equity funds.I like the idea,but should you get a bank valuation done first anyway?(prior to purchase) In case your “added value” doesnt add up to as much as you expect? Any thoughts?[confused2]
As you probably don’t really know the house values in another town it may not be a bad idea
to spend around $ 200 on a valuation.It may save you money.
I would also obtain a builder’s inspection.
There is likely something going to be wrong with the house.
Better to find out now. On top of that you may be able to use the building inspection report to get the price down a bit more.
I would be happy to order the valuation for you if you like so that you pay the same (discounted) price as you would if a lender ordered it.
Pisces
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