Valuations

Viewing 4 posts - 1 through 4 (of 4 total)

stargazer
Participant
@stargazer
Join Date: 2002
Post Count: 344
June 30, 2004 - 4:49 pm
Hi all
Does anyone know how a valuer goes about determining the value of a property.
Have the valuers got there own type lingo
If you met with one to state your case on re-valuation are there certain things one needs to know to impress the valuer apart from the obvious sales history.
regards
alf
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
June 30, 2004 - 10:38 pm
The major tools used by valuers are comparable sales in the area and also land values plus building costs.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
The DIY Dog Wash
Member
@the-diy-dog-wash
Join Date: 2003
Post Count: 696
June 30, 2004 - 10:55 pm
They like to know of any improvements that you have made to the place.
Cheers
Leigh K[biggrin]
Derek
Member
@derek
Join Date: 2004
Post Count: 3,544
July 3, 2004 - 4:29 am
Hi Alf,
One thing valuers really detest is when the ‘comparable sales’ you have identified are not that comparable. In essence make sure your information is fair, valid, reliable and up to date.
I have had success in the past by ringing local agents in the area to find out some details about recent comparable sales that haven’t yet reached the stats and provided this, and agent contact details, to the valuer to guide them in their deliberations.
Derek
[email protected]
Property Investment Support Available. Ongoing and never stopping. PM welcome.