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| Valuation A valuer gives a written report to assess if the property is a suitable risk for mortgage purposes which is for use by the lender only. There are two other types of report which the applicant can request at their own cost; a homebuyers report, or a building survey (formerly structural survey). Vendors Deposit The seller (vendor) agrees to sell the property to the buyer for a certain amount. Part of the agreement includes a separate “discount” on the purchase price shown in the contract. This means that the seller is “paying” the deposit. Some lenders view this as a reduction in purchase price. |