That means they just wasted RM 1450 down the drain.
What a waste. Tsk

Basically, the banks want soneone to take responsibility for the loan disbursed if things go wrong.

And if things doesn't go wrong ? That money is indeed down the drain ? 

I see, ok now I get a better understanding of how this whole valuation works. No wonder the bank ask my auntie to sign and approved the loan, the documents etc, and all the SnP is all done, THEN ONLY they hire the valuation company that is under them to go and value the property.

So that is why the bank KNEW to loan at 90% at 600k, because they instructed the valuer so the valuer is actually just following the bank's instructions, but the amount valued can be equal / more or less but not far apart ? Because I thought if the valuer value at 700k, then wouldn't we need to re-sign all the documents again because then the bank would have to loan 90% at 700k, for example.