Forums / Property Investing / General Property / Melbourne property valuer

2019 Money Magnet Symposium - Discover how to make, and keep, more money and achieve a financially empowered future
Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of CorieCorie
    Participant
    @corie
    Join Date: 2009
    Post Count: 113

    Hi everybody,

    Can anybody recommend a property valuer in Melbourne, preferably south east suburbs that can provide a valuation that would be acceptable by a bank.

    I am looking at a property that has acreage in an area that has a lot of residential blocks and comparable sales are very limited. One lender I have spoken to were willing to do a 95% lend but due to the limited comparable sales they would only consider 85% which doesn’t work for me.

    Corie

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Hi Corie

    The bank you obtain finance with will commission their own valuation.

    Best bet is to have a couple of upfront (before submitting an application) valuations done via different banks.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    You have to use the lenders ordered valuations – you cannot use an independently ordered val and have the lender accept it. The exception to this is commercial valuations/loans.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    Profile photo of latexlatex
    Participant
    @latex
    Join Date: 2015
    Post Count: 2

    Rookie here…. Wouldn’t going to different banks now would hinder his credit score?

    Profile photo of CorieCorie
    Participant
    @corie
    Join Date: 2009
    Post Count: 113

    Yeah that is fine jamie but it seems all they seem to do is look online these days. I went onto the APM website to perform valuation and their records didn’t even have the address correct. The property I am looking at shows up as last being sold as vacant land 10 years ago. This is the property next door.

    Latex I don’t think It wasn’t official application. My broker was having discussions with a lender.

    Profile photo of CorieCorie
    Participant
    @corie
    Join Date: 2009
    Post Count: 113

    Has anyone heard of a probate valuation?

    What is a probate valuation?

    One of the primary duties of an executor (or administrator) of a will is to value the entire estate, including the deceased’s property. An executor will be required to provide an estimate of the total value of all the assets (property/chattels etc), so that tax liabilities can be correctly assessed. A probate property valuation report is also commonly used to help identify the fair market value of a deceased estate on behalf of the beneficiaries.

    Can these be used for finance valuations? Has anyone heard of this being done?

    Corie

Viewing 6 posts - 1 through 6 (of 6 total)

You must be logged in to reply to this topic.