Forum Replies Created
Yes too late now and lesson learnt…we do have ample equity to cover a low val but just if lender will accept it…def would’ve been nice to have been advised by solicitors about this….thanks for responses.
Yes….a learning i will take away from this whole process…still no idea what outcome we can expect….thanks for shedding some light on this matter…hopefully it will help others to avoid this situation.
Thanks for response….i am unsure what to expect the valuer to come back with as how can he assess what he reads in building and pest inspection when their comments are so general….and valuation is based on similar properties and sales…how can they forsee that these did not have building and pest issues…i am just baffled that if we had gone ahead with the original purchase price the valuation would have been as per original….no questions asked!! It is a very loose science….why dont lenders require a valuation to be done with same considerations of building and pest inspection then?? I am thinking we should just ditch current application and go with new lender…i just dont know what we are to expect back from the valuer now!!
Thanks again for any assistance…Does anyone know of situation where….. bank valuation came back at agreed purchase price. Following building and pest we renegotiated a lower purchase price by $20k to cover some issues. Mortgage company has now asked the valuer to revise the valuation to new lower purchase price and valuer has requested our building and pest reports…..is this normal??? I thought valuation based on what they see and market, land etc….any help appreciated cause i cannot find any info on similar situation..
