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The difference between bank valuations which is used for lending purposes vs market valuations which is given to you by a Real Estate Agent.

00:00 Bank Valuation Vs Market Valuation | Why is it different?
01:05 1. Why Are The Values Different?

A market valuation helps determine a property's price on the market when a real estate agent is going to sell the property for example, while a bank valuation helps a lender determine their risks and work out how much they want to lend you.

When you apply or a home loan your lender will send out an independent valuer to judge the value of the property you wish to buy.

This bank valuation is a conservative estimate because the bank is concerned with lending you money they can't get back if you're unable to pay. Their valuation assumes they may need to sell the property to recover losses.

A market valuation is an estimation of a property's value on the real estate market. This is the valuation a buyer or seller needs to focus on.


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