Hi All Received pre approval and have come to agreement on a house at $555k. Most property internet valuations have it between $480k - $625k. However the bank we are using (St George) have it listed at $440-$549k - though some properties in neighbouring streets, even a property directly fronting a freeway are valued via St George online at $550k-649k. House a 3 bedroom with ocean views from rear yard, in good nick, although recent homes in the street aren't really comparable. One went for $505k, 3 bdr but straight out of the 50's and the other property was a renovated 2 story 3 bdr for $625k. We are pretty happy with the price - what to do if St George value it less?
Get your valuer to order upfront so you know. If low you basically have 2 choices a) tip in more money, or b) try another lender's valuer.
In my experience 99% of valuations done for purchases come back at the purchase price. Valuations are usually the least of people's worries. The other 1% tend to be unusual properties, such as potential development sites, or off the plan properties.
