There are several different types of property valuations that include:
· An
automated price estimate
These can be useful if you are thinking of acquiring
property in a certain area, through different types of apps. Banks do not
review these estimates as part of property loan applications.
· Appraisals
and privately ordered valuations
Buyers and sellers can source valuations through real estate
agents or a valuer. Privately ordered valuations are not used by banks when
making lending decisions, but provide a guide to the estimated market value.
· Bank
valuations
Bank valuations, determine the loan-to-value ratio in a
property loan application and impacts the amount that a bank is willing to
lend.
Contact us @ propertyloans@realrenta.com for a Free property valuation or refinancing enquiry from our trusted Finance
partner
Marlene Liontis
Saturday, 2 November 2019
