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Mortgage approval - valuation report

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  • 14-01-2010 12:54pm
    #1
    nouveau_4.0
    Closed Accounts Posts: 162 ✭✭


    So I was approved for a mortgage today, pending a property valuation report.

    How do I go about getting a valuation report done?
    Is there registered valuers that I need to use?
    And how much will it cost me?

    Thanks


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    #2
    filthymcnasty
    Closed Accounts Posts: 644 ✭✭✭filthymcnasty


    once you have identified a property, your bank or broker will send out on evaluator.
    from my own experience Ulster Bank got Sherry -Fitzgerald auctioneers to do it.
    It cost 130 euro which you have to pay for yourself.


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    #3
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Normally the mortgage providor has a list of 'approved valuers' any of whom may be used to provide a valuation for mortgage purposes. (Note these lists have been massively culled in the past year). Its up to the prospective purchaser to pay for getting the valuation done. Its up to the purchaser to get the list of approved valuers from their lender- to contact one, and to organise the valuation.

    Note: the lending institutions does not have to accept the valuation given on the property by the valuer as 'market value'. AIB and BOI were up until recently habitually discounting valuations by a further 10-15%. I'm not sure if this is still going on.


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