Definitions for "Valuation Report"
Lenders estimate of properties worth.
This is carried out for the purposes of mortgage and is prepared for the lender. A survey will also help you to find out independently whether the price is reasonable. Your mortgage lender will almost certainly insist on a basic valuation to make sure that the property is worth the amount you are paying for it. They want to ensure that you will be able to sell it again and therefore that it is a safe investment. Although it is often referred to as a survey, it doesn't go into nearly as much detail as a homebyuyer or full survey would do.
a legal document that, among other things, may be tendered in court as evidence and relied upon by lenders for securing a mortgage
Keywords:  variable, rate, mortgage
Variable Rate Mortgage