Before having your loan approved, your bank/lender will seek out a property valuation to ensure that loan can be safely deposited. A valuation is completed to establish a potential selling price; in the case where the loan is defaulted, the bank is entitled to sell the property to pay off the mortgage.
A mortgage security property valuation will establish a price that will provide the assurance the bank needs to safely provide the loan.
Having an independent property valuation company complete a valuation will ensure that the property value is based on the current market value. Within the report, a property valuation will look into factors such as property size, layout, and comparable prices to give an unbiased report.
It is recommended that an independent property valuer complete the report to ensure that the property value reflects its true market worth.
For more information regarding how we can assist with your mortgage security valuation report, please contact us on (02) 8599 9863 or fill out an online form.