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rookstar

5,097 Posts.

806

21/06/18

18:29

Post #: 33866121
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Originally posted by lispingduck ↑

If the market is still falling and in WA it still looks like it is in some areas, there will be knock backs on bank valuations if the buyers are not in-tune with what the market is doing or has done and offered too much.

That knock back just means that the property will go back on the market waiting for a new offer from someone with a larger deposit or renegotiate with the existing purchaser for a more appropraite price that the banks will accept.

I know someone who not too long ago bought a property ~20% below its 2013 value in Perth with 10% deposit + LMI, piece of cake getting the finance.

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Was that a high risk lender?
What % rate was that?

Im just curious thats all
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