It is to play safe to get a bank indicative valuation before proceed for application of purchase and equity cash out mortgage.
Most of the bank internal guideline requires at least TWO panel valuation companies to match the highest valuation. We only release the bank indicative valuation once we have at least two bank panel valuers
Property valuation can be negatively effected by recent low transaction in surrounding area and market trend.
It can be positively enhanced by the property facing, renovation, rental income.