Hi everyone
Hope you all having a pleasant weekend.
Question, how long should an individual investor do its first valuation on their new property investment to access its equity to use as a deposit to purchase another property?
Thanking you
Zen
when it has increased in value enough
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks Terry, appreciate.
what does this revaluation? Does the bank do it? Do we ask the bank to revaluation the property and see how much it increases?
what does this revaluation? Does the bank do it? Do we ask the bank to revaluation the property and see how much it increases?
Some banks allow you to order a valuation on your property without submitting an application.
If the property has gone up in value – you might be able to release some equity depending on the banks policy and your borrowing capacity.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Thank you Jamie
And it varies on the ‘type’ of valuation. Some will send out a valuer to inspect the property (full report), others will just drive past the property (kerbside), and sometimes banks will just use their own computer model to estimate the properties value without any inspection.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
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