From: Apprentice Millionaire
At last, after all the HIH problems have been sorted out, I am settling on my first IP.
Valuation was done for the bank, and it came spot on the purchase price. I am told this is good by my contact at the bank. I.e. the valuation could have come lower, I guess.
So as the property hopefully increases in value, how does one go about getting a new valuation? Do I call the bank's valuer (I know who they are) and ask them to do an independent valuation that the bank might accept, or do I just call the bank and tell them to do a new valuation?
Also, how soon should I be concerned with this step? In 6 months time? In a year? I guess it is dependent on the market, but as I am learning, I would appreciate opinions, advice, suggestions, recommendations, pointers, information, anything (and I promise I will not sue!
Cheers
Apprentice Millionaire
(aka Jacques)
At last, after all the HIH problems have been sorted out, I am settling on my first IP.
Valuation was done for the bank, and it came spot on the purchase price. I am told this is good by my contact at the bank. I.e. the valuation could have come lower, I guess.
So as the property hopefully increases in value, how does one go about getting a new valuation? Do I call the bank's valuer (I know who they are) and ask them to do an independent valuation that the bank might accept, or do I just call the bank and tell them to do a new valuation?
Also, how soon should I be concerned with this step? In 6 months time? In a year? I guess it is dependent on the market, but as I am learning, I would appreciate opinions, advice, suggestions, recommendations, pointers, information, anything (and I promise I will not sue!
Cheers
Apprentice Millionaire
(aka Jacques)
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