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Old 31.10.2012, 10:26
Züricher Züricher is offline
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Re: Bidding on a house. What is the trend?

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I would check with your bank, esp. if you are planning on getting a mortgage. They have tightened up lending a bit, esp. in hot property market areas, and may not finance the purchase if they think it is too overvalued. The bank can also give you an appraisal of what they think it is worth, if you are planning to bid over the asking price.
Yes, we will go for mortgage, and will have a 2nd talk with the bank soon. This is our plan also asking them the same qustion. We thought they may have some experince on the bidding prices.. And they were valueing the house 300k less then the advertised price.. I dont know if this is the trick that all the banks apply.. ???
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