Jan 3 2012, 05:52 PM
QUOTE(jepakazoid_82 @ Jan 3 2012, 05:22 PM)
Im wondering if let say I want to buy an auction property which happens to be my 3rd property. If let say the value of the house is 200K and the auction price is 140K, which is 70% of the value, will I be able to get 140K loan for the house? Appreciate if anybody can share their experience out there. TQ.
Loan is based on the final auction price. If you won it on 140k, they will loan you 70% of 140k. 30% will still need to fork out for downpayment.Not 70% of the market value.
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