If you’re after finance for that brand spanking new home in the ‘burbs, you might not be able to contact me directly. Why is that? Because some lenders prefer to source their valuations through what is called a valuation ordering service like Valocity and CoreLogic. These valuations are used to validate the market value of that gorgeous piece of real estate before they will approve a mortgage for you.
Depending on the lender you are using, they might also have what is called a preferred Valuer Bank panel. It is because of these reasons that you MUST check before getting in contact with a Valuer of your choice.
I definitely recommend the help of a great mortgage broker to acquire a valuation for mortgage purposes. They can help point you in the right direction, ensuring all of your T's are crossed, and your I's are dotted. Here are some questions you can ask them:
Can you instruct a Valuer of your choice directly? or;
Do you have to use a specific Valuer on the Bank’s Panel of approved Valuers? or;
Will the lender use a Valuation Ordering Service to randomly assign a valuer to you?
WARNING! Some of my customers have complained to me about being informed they need a registered valuation at the last minute or being told they do not need one and now they do. It’s vital that you do your homework and go through the right channels to obtain a valuation in accordance with your lender’s rules to get that home or investment of your dreams!
If your need for a valuation is urgent, please let your lender or mortgage broker know so that you can have it done as soon as possible, it may be subject to what is called an urgency fee.
Have you experienced something similar to this? Did you know this information about finance? Let me know in the comments below!
