August 19, 2024 by Raymond Teh
There are 3 main types:
- Desktop valuation: algorithm-based, using recent sales data
- Kerbside valuation: conducted without entering the property
- Full valuation: involves a physical inspection of the property
Issues can arise when seeking a home loan post a full valuation:
- Limited title concerns
- Proximity to power stations or railway tracks
- Potential risks of bushfires or floods, as per council reports
- Unresolved flammable cladding for strata properties
- Unauthorized improvements on the property
If faced with any of these challenges post-full valuation, consider switching lenders promptly instead of disputing with the current one.
RT 19/8/24
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#HomeLoans
