Dear sifus,

Is that possible to ask bank to perform valuation and show valuation report before I accept the Loan Offer Letter?

I'm buying a subsale home priced about Rm550K. Banker claims can get me 90% loan based on my profile and property value.

I afraid the margin may get cut off to 85% or 80% after I accept the Loan Offer and after I sign the S & P with the seller. If that going to happen It will not be possible for me to raise the difference which may go up to 50K.

I'm trying to avoid the situation where some of the forummers have gone through in buying subsale property where Margin of Finance got chopped off upon release of Valuation Report and after accepting the Offer Letter.

This is my first property.

Currently not servicing any loan.

What would be the best approach to avoid the foreseen problem?

Please advise..


P/s: I have placed 3% Earnest deposit with the Agency. Applied loan with the agent's friend. Pending outcome of the results. S&P expected to be signed 2 weeks from now.