Banks might require a valuation from a Registered Valuer before finalising your mortgage application. They’ll consider the structure and the general condition of the house and place a value on the home. The value indicated by the Registered Valuer is not absolute and it’s quite common for these values to be surpassed at auction and in the normal offer procedure. Use it as a guideline only as personal opinions and market demand also play an important role in the final realised value. Keeping this in mind will ensure you don’t lose out on a property by blindly following the valuation.
