Hi guys,
I've got a couple of questions about getting a valuation of a property.
I'm new to property market so this might be a silly question but please help!
– Where is the best place to ask for a valuation? Should I ask a bank or an independent company?
– How much is the average cost to get a valuation?
Thank you!
Hi rinji
Firstly welcome to the forum and I hope you enjoy your time with us.
It all depends on what you want it for.
If it is merely to get an indication of estimated price then an online RP Data / Residex or similar search would be just as good.
Unlikely your Bank will do it for you unless you have lodged an application thru them.
An independent report will cost between circa $380 – $750 depending on the purchase price.
As a Mortgage Broker we order valuations for our clients all day long and in most cases their is no charge for this (The odd lender does charge.)
Let us know what you need and we can answer further.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hiya and welcome aboard.
Which bank are you with? You might be able to get a free upfront val done via a broker.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
It will depend upon the purpose of the valuation that you seek.
If you are looking to refinance an existing loan, then your bank is probably the best option (as above).
If you are looking to buy and want to know how much to pay, you can use RPData etc or engage a private valuer.
If you are looking for replacement value for insurance purposes, you will need an independent valuer
If your need a valuation for lease negotiation purposes (eg market rental), then you will need an independent valuer (specialised valuers do retail leases)
Thanks a lot guys!
My accountant suggested me to get a valuation of the property if I'm thinking of selling my property in the future.
If I understood him correctly, it's better to get a higher valuation as the capital gain from selling the house will be less…
It's all complicated to me but in this case, would an independent valuer be the better choice?
Hi Rinji
What are you doing with this property? Is it an owner occupied property that you're about to rent out?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Ask your Accountant if 2 x sworn letterhead valuations from Real Estate Agents would be acceptable.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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