Hi all,
When purchasing a property, if the LVR is less than 80%, the banks just take the purchase price as the valuation and move on. If the LVR is higher, the bank may get a valuation done. And the valuations are most if the times, the purchase price or may be less in some cases.
But if you know that you have actually bought a bargain, is there any way to get the bank accept a higher valuation? What can be done to borrow against a higher valuation?
When purchasing a property, if the LVR is less than 80%, the banks just take the purchase price as the valuation and move on. If the LVR is higher, the bank may get a valuation done. And the valuations are most if the times, the purchase price or may be less in some cases.
But if you know that you have actually bought a bargain, is there any way to get the bank accept a higher valuation? What can be done to borrow against a higher valuation?