You can have peace of mind that the bank will not approve a loan, where they have not found value. It is however true that in some cases you will find three banks finding value without a problem and another finding lower value. The banks don’t use each other’s valuation reports and will rely only on their own valuators report.
Should you wish to arbitrate/motivate the banks decision, we will have to provide at least 4 registered sales within the past 6 months, which shows similar purchase prices or higher in the same area, as the property in question. We will then motivate for a second opinion to be given. Some of the banks may insist on an amended OTP, where the purchase price was lowered, while other banks will simply make a lower offer. If you as the buyer are prepared to pay the difference needed, that will be fine.
Feel free to contact Donna for any property-related questions, I’ll be happy to assist.