Should I Get a Valuation?
What Will the Valuation Tell Me?
A registered property valuation report will tell you what the market value of the house is; this is the price you should be paying as determined carefully by an expert. Banks rely on property valuations when they lend money on houses as they know that this is an expert, impartial, unemotional opinion of the houses current market value. You can find registered property valuers here
Your Bank May Want a Property Valuation...
If you get a registered valuation, you can assure yourself (and your bank) that you are not paying too much. A satisfactory valuation is a common condition that is added to many offers, mostly due to mortgage finance conditions. But for your own piece of mind you can insist on a registered valuation to make sure a property is worth what you are offering for it. All our profiled registered property valuers
will do a property valuation for you to use in your mortgage application.
A Property Valuation as a Condition...
Many real estate agents will try to discourage you if you, as a buyer, indicate that you want a registered valuation, and want this valuation as a condition on the sale and purchase agreement. They see conditions as barriers to sales, and they want the house sold! Don't be put off, if you get a house valuation, it is never money wasted. Should you get a registered property valuation before you begin house price negotiations? Or should you just have a registered valuation as a condition? The pros and cons are discussed in this Propertytoolbox house buying article
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