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Sold STC Estate Agent Query
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scottishgirl87 wrote: »See, I have a copy of the Home Report for the Offers Over £99k property. It says for insurance purposes the property is valued at £90k but has a market value of £115k. So what would a mortgage lender take as the valuation? Sorry, I'm really new to this so I really have no clue :embarasse
The £90k figure should have a heading "Estimated reinstatement cost for insurance purposes"
The valuation will be under the heading "Valuation and Market Comments" and typically reads - Market Value with vacant possession - £x - that's the valuation you're interested in.
If the HR includes the Mortgage Valuation Report, look under section 11 - Market Valuation for Mortgage Purposes (assuming Vacant Possession)0
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