Hi Guys,the update on this issue:I have another independent valuation done, and it is very generous, it is 520K which is 60K more than bank's valuation. what should I trust? confused again.ThanksYan

Thanks everyone, all your suggestions are very helpful and encouraging. I am so glad that I found this forum and meet you guys here.

Another question:If I lost my deposit (0.25%), Can I claim it as deduction for my investment?ThanksYan

this is bank's valuer, has been asked by REA to revalue the property, however, the information provided by REA is not good enough to change the valuation. I think that probably the good thing. I will follow the advice that never pay more than bank's valuation. Thanks a lot

Hi Guys,the reviewed valuation is still 460K on this property. I am not sure if it is still too risky to buy at this price (if I can get) from what I have been reading. It seems it is not very clever to rush into the market with all the FHB. Would it be better after June?Cheers

As Daniel said, I probably did not do enough research before action. I am very new to property investment, I even did not know what valuation have to do with finance. It sounds a bit stupid. Of course, there was not "a clause that the purchase is subject to a successful valuation at cost or higher", that means I will loss 0.25% deposit, but I…[Read more]

I am scared about buying overpriced property, especially well overpriced 40K. Another thing is really odd, does normally REA will speak to valuer? My REA talked to valuer and told him the valuation is too low. so Valuer is asking him to send more information. Would valuer be influenced by REA?

Thanks I.P. freely,You are right, I got the problem with finance, I need to either pay 5K for LMI or 15K for deposit. Most important thing is get the price right. real estate agent argue that valuation is ridiculous, so I am getting the first valuer to do re valuation based on the argue point provided by real estate agent. I am not sure what w…[Read more]