My girlfriends parents are going to sell their house. We would like to buy it and I was wondering how we might be able to get a bank evaluation so we don’t pay too much.
thanks,
Jamie.Ring the bank that you will get fiannce thorugh, find out whihc valuers they accept and then ring them and ask what they would charge you for the valuation (the charge will be hgiher than they carge your bank, but by going direct you get teh valuation sent to you, if the bank organise when doing the finance then you most likely won’t get to see it and most likely won’t even be told what it is). So organise it yourself, but advise them that you need the report to be accepted by your bank as well, I can’t think of the right word, but they then “assign” permission for the bank to be able to reply on the report in teh report. If you don’t do this then the bank will go and do another one of their own. Sorry I can’t thin of the right word for this but I’m sure they’ll work out what you mean if you put it in those terms.
IN WA, I pay around teh $330 mark for a valuation by one of my banks accepted valuers.
Regards
PKAnother whole different idea is, why not have them transfer the house to you? And you can pay them the direct amount without many middle men.?
Cheers,
SerkanDon’t get a Real Estate Agents appraisal.
Their main agenda will be to get the listing – even better if you are the buyer – they get paid for nothing.
They will attempt to convince the sellers that they are better selling it on the open market.
Their appraisals are also not valuations – just an opinion of what they think they can sell the property for.
Why don’t you look at every open house in the suburb next weekend – you should be able to come up with a figure that seems fair after that. Remeber in todays market that asking price and selling price are not the same.
Don’t let the agents get a whiff that this is a property likely to be on the market soon!
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi stargrasper74
I like the idea tabled by:
serkan Posted – 07/11/2005 : 03:36:16
Another whole different idea is, why not have them transfer the house to you? And you can pay them the direct amount without many middle men.?Cheers,
SerkanJust do yourself a favour and set up a legal contract, that, if the parents agree to this sale and you get the finance, that you will get the place properly valued (as Simon said:
They will attempt to convince the sellers that they are better selling it on the open market.Their appraisals are also not valuations – just an opinion of what they think they can sell the property for.
and then you pay them out. If they wish to try on the open market to get more money you may be able to buy it anyway using, say the FHOG. This night be the win-win for the parents and you, they get to help you get into your own home and they can still go and buy what they want.
Just make sure you have a contract of sale that specifies every-ones obligations.
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonBeing your Girlfriends parents might make a difference! How serious is the relationship? I don’t mean to pry but does she consider you a “Keeper” (and vice versa)? If her parents don’t see your relationship as serious enough they might not want to saddle you two with a mortgage that will put extra strain on your relationship ….
Sorry for the Doom-n-gloom…
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas Edison
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