Property Valuation Quiz

What is a property valuation?

• An estimate of the property’s future value

• An assessment of the property’s current market value

• An evaluation of the property's rental income potential

• A determination of the property's historical value

Which of the following factors are considered in a property valuation?

• The color of the property

• The condition of the property and comparable prices in the suburb

• The owner's personal circumstances

• The location of the property in the country

Why does the bank use a property valuation?

• To calculate the property's rental income potential

• To determine the market value of the land

• To assess the risk of lending money

• To decide the interest rate for a loan

What happens if a bank values your property lower than the purchase price?

• The bank will cancel the loan

• You may need to find extra funds or take out lender’s mortgage insurance

• The bank will provide the full loan amount anyway

• The bank will offer a lower interest rate

In a refinance deal, when is the valuation ordered?

• After the contract is signed

• At the upfront

• Once the loan is approved

• When the bank receives the first payment

In a purchase deal, when is the valuation ordered?

• As soon as the contract of sale (COS) is available

• After the property is inspected

• Once the buyer signs the agreement

• Before the COS is available

What is the priority in placing a valuation order for purchase deals?

• Only after the loan is disbursed

• Once the COS is available

• After the settlement is complete

• Before submitting loan documentation

What does CoreLogic provide?

• Financial, property, and consumer information, analytics, and services

• Only real estate listings

• Legal services for mortgages

• Investment advice and portfolio management

In which markets is CoreLogic's property data used?

• Only in the insurance industry

• Mortgage, real estate, housing, and insurance claims

• Retail and manufacturing sectors

• Healthcare and government services

Which banks use CoreLogic's property data?

• Only ANZ and CBA Banks

• Only international banks

• ANZ, CBA, and a few international banks

• ANZ and CBA, along with other financial institutions