Hi guys & girls
Im getting my property valued by the bank 2moro to find out what equity is available.
Any tips/tricks or recommendations i should take on board before it happens?
Is it worth showing them some recent sales from the area and photos of before the reno's were done? or will they not be interested…
Many thanks
In my opinion showing before photos is a good idea. Maybe print copies or offer to email them.It would be good to show receipts for the improvements too.Very recent sales data would also smooth the way. The databases the valuers access can take over a month or two after settlement to show up. If you contact agents operating locally and get some sales figures on very recent sales it will help. You will need specifics like land size, zoning , number of beds, baths etc for it to be of use. Try and compare apples with apples where possible , if you know of properties similar to yours recently sold. On top of that the usual things as if you were presenting it for sale, like de cluttering and getting rid of dogs and having the gardens looking good etc, assuming it is your PPOR. Try and have everything in writing for them to take with them and allow them freedom to go at their own pace. My experience with valuers is that they are generally in a hurry so best keep out of their way. Good luck, hope they are in a good mood.
The best way to get the val you want is to commission the val yourself and not let the bank commission it. Choose a valuer who is contracted to various banks to perform vals in the area of your property and have a dossier of info for him including details of recent sales, features of your property and a locality map showing where local features such as schools, shops, transport, sporting facilities are located in relation to your property. When the val is completed you can tell the valuer which bank you want it assigned to once you have decided which loan product at which bank you wish to apply for. Going about things this way you have control over how the valuer is instructed. I have never had this approach fail me in either getting the val I wanted or the loan product and amount I wanted.
Cheers
Great info thanks guys
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