Off the plan and Valuations

Ever had a valuation come in under what you've purchased the property for? Hey, it's Aaron from Diagnostics and Finance. Just wanted to talk about valuations for a second. Typically, if a valuation comes in under the value you bought the property for, you've most likely bought off the plan. Buying off the plan means that you've exchanged on the contract prior to the bank doing a valuation of the property. It may not have been built yet, the land may not have been registered yet, and typically these days, we're finding that off the plan is a lot shorter than it was a few years ago. A few years ago. Typically, around units and things, it does take a few years to build those. So you do potentially have to exchange on the contract prior to seeing the property being done. What happens is that you get to the today where you need to do the bank valuation. And sometimes some valuers are different to others. So if you're in the boat that you have a poor valuation on a property that you're trying to buy and you need a second opinion, a broker from Diagnostics and Finance is the way to go. We're able to have a look at what's going on currently that you've tried through a branch or somewhere else and be able to look at how we can put a solution in place to be able to make the best borrowing decision you can and hopefully get the right price on the bank's valuation that will suit your budgetary needs. All right, have a great day.