Tracey explains to me why banks and lending institutions require some buyers to get a valuation on the property prior to approving their finance and she also explains what LVR is. If you have a low deposit or a high loan to value ratio you may be required by the bank or building institution to get a valuation on the property you are purchasing.
Bear in mind this information is only valid at the time of recording and we advise people to get advice to see what the latest ruling is on this; and as usual seek legal and or other technical advice.