Hi All,
One of my migration clients is looking at buying a property at auction this weekend but is having a few issues with his broker re getting unconditional approval.
The client does have a low doc pre approval (for what thats worth) and a 50% deposit, but the broker is insisting that the lender requires a full valuation upfront rather than after the auction.
He wants to know:
1.) Is this normal to require full valuation upfront? Wouldn't a desktop or kerbside valuation suffice?
2.) How quickly can you get a valuer in and does it being low doc change this?
Not sure if this makes sense but any help much appreciated.
Kind regards
Noodle
One of my migration clients is looking at buying a property at auction this weekend but is having a few issues with his broker re getting unconditional approval.
The client does have a low doc pre approval (for what thats worth) and a 50% deposit, but the broker is insisting that the lender requires a full valuation upfront rather than after the auction.
He wants to know:
1.) Is this normal to require full valuation upfront? Wouldn't a desktop or kerbside valuation suffice?
2.) How quickly can you get a valuer in and does it being low doc change this?
Not sure if this makes sense but any help much appreciated.
Kind regards
Noodle