Max replied to the topic Bank valuation VS Independent valuation in the forum General Property 9 years, 10 months ago
If the lender (bank) only has to recover 80% of the Purchase price plus selling costs, they shouldn’t be too fussy if the valuation is not quite up to the selling price. If the borrower’s capacity to repay is strong then the risk is low for them. So why wouldn’t they approve a loan even if the property was valued at 90% of the purchase price. So…[Read more]
Max became a registered member 9 years, 10 months ago