Valuation Report
Most banks will be happy to finance a house without a valuation if it is being purchased through a real estate agent. How ever in some cases, the bank does require a valuation to confirm the value of the property. Some of the cases where a bank may request a valuation are when: you are buying a property privately and your deposit is less than twenty percent of the price, or if you are buying a property which is part of a block of more than four homes.
A valuation is basically an estimation of the value of a property, and can cost from $350 to $600 per property. As there is a cost for every valuation, people prefer to make offers on houses subject to a valuation, and only arrange one, once their offer has been accepted. www.prendos.co.nz
LIM Report
Most solicitors will insist on you checking out the LIM report (optional), this gives you information about the land that the property sits on.
There is also information that the local council can give you for a minimal cost, it is worth calling them directly. Council details
Builders Report
This is not required for finance in most cases.
A builders report can reveal problems with the property’s physical state. This can also include moisture reading which may help you avoid a leaky home.
The cost of this can vary also from around $200 for a basic
check to $800 for a comprehensive check.
Engineers Report
This is not required for finance in most cases.
An engineers report can give you a more in-depth idea of stability of the house and the surrounding land.
A Structural enignineers report can be useful for building that seems like it is not up to normal standard. A Geotechnical Engineers Report can give further insight into any suspected ground instability.
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