Banks and Property Valuations: What You Should Know

In today’s show, we’re demystifying the bank valuation
process. 


Why do banks do valuations? How do they work? What happens if the
valuation comes back lower than the purchase price? 


Andrew Wheatley, owner of Wheatley Finance, joins us today to
answer these questions and to share his insights on the risks of
working with banks, valuing off plan property, protecting
yourself from settlement risks, and more!


If you enjoy the show, do like, rate, subscribe, and share it
with others! We have loads of resources available and if you’d
like to chat, email us at support@homebuyeracademy.com.au!


We’ll see you on the inside! 


 


Episode Highlights: 
Why banks need to value property [03:11] Types
of bank valuation [09:39] Are first home buyers
entitled to full valuations? [15:26] Banks,
valuers, and panels [19:52] How valuations work in
an auction [23:34] Issues that can come up in bank
valuations [28:38] What to do if your property
gets a low valuation [34:40] Understanding the
risks of working with banks [39:43] The apartment
trap [42:41] Bank valuations on off plan property
[47:02] How to protect yourself from settlement
risks [54:18]

 


About our Guest:


Andrew Wheatley is the owner of Wheatley
Finance. He is fascinated (obsessed is probably a better term)
with how mortgages work. A key goal of Wheatley Finance is to
help people change a couple of small things in the way they
interact with the banks, that can have hugely positive impacts on
their finances.


 


Links from the Show: 


Wheatley Finance Website

Home Buyer Academy FREE Mini Course



 


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and share the show! There’s more to come, so we hope to have you
along with us on this journey!


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