Hi all,
I was just wondering, is it common for the banks valuation of the property to be higher than the purchase price & if this be the case, does it imply you have a bargain?
How conservative are the banks with their vals?
Also, Lenders Mortgage Insurance....... does anyone know whether the insurer works on purchase price or bank val when calculating the LMI ammount ?
Thanks,
Henry
I was just wondering, is it common for the banks valuation of the property to be higher than the purchase price & if this be the case, does it imply you have a bargain?
How conservative are the banks with their vals?
Also, Lenders Mortgage Insurance....... does anyone know whether the insurer works on purchase price or bank val when calculating the LMI ammount ?
Thanks,
Henry