Whether it’s your first home or third investment property, one of the most common challenges, is getting through a bank appraisal of the property.
Even though a bank appraisal is not as comprehensive as a house inspection, it is still possible that issues can arise from the process.
Here are some of the most common scenarios that a bank valuer, may identify as deficiencies that will need to be addressed immediately:
• Peeling paint
• Lack of handrails on steps, decks or verandahs.
• Broken and or missing windows/window panes and glass
• Roof issues
• Inadequate electrical systems
• Non-functioning heating & cooling system
A bank valuation is protecting the large investment that the bank is making.
These common issues with a bank valuation can be avoided if pre-emptive steps are taken to address any glaring deficiencies in the property.
For more information about bank valuations or investment loans, contact us @ propertyloans@realrenta.com and we will arrange for a lending specialist from our trusted finance partner to contact you shortly.
Marlene Liontis
Tuesday, 4 December 2018
