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Old 20.12.2013, 00:59
Carolina26 Carolina26 is offline
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Re: House valuation /Engineer to evaluate property

based on our recent experience,
1. all the banks know the local property value quite well.
2. but each bank has own mortgage strategy, market trend analysis and different degree on risk-tolerance.

in our case, with the "over-priced" house, different banks give different amount mortgage: some is 80% of the asking price with our affordability, some only gives 70% even 60% of the asking price. With the house price is in the normal price range, all the mortgage offer is very much the same.

so my advice is, go to talk with many banks then you know if the house is over-priced and even it is over-priced but you want it very much, can you afford it or not. Hope this help! and good luck!
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