If seller asking for RM300,000 but the OMV by panel valuer (of the bank that the borrower want to get a max loan of 90%) is only RM250,000, then, the borrower will need to pay very large deposit from own money, i.e. RM300,000 - RM225,000 = RM75,000.
Bank only lends based on OMV, i.e. 90% x RM250,000 = RM225,000
Unless the buyer is prepared with RM75,000 ++ (other expenses like legal fee, Sale & Purchase Agreement stamp duty etc), the buyer will face a serious problem if he/she made the 2% or even 10% downpayment yet can't secure a loan to meet the balance payment.
Therefore, using an experienced mortgage consultant is important to eliminate possible problems.