Topic 14 - Valuations and surveys Flashcards
1
Q
Valuations available
A
-Basic
Condition report
HomeBuyer
Building survey
2
Q
retention
A
A portion of the loan of the loan held back by the lender until the buyer provides evidence the
3
Q
Valuation report
A
form the basis of the lending decision
- lend or not
- size of the advance
- percentage advance LTV
- recommended conditions of the advance
4
Q
Undertaking
A
Formal agreement buyer will undergo remedial work
5
Q
retentions
A
repairs required, more extensive then the undertaking
6
Q
NHBC Buildmark
A
7
Q
Premier guarantee
A
8
Q
LABC New Home Warranty
A