Hi guys
Just a quick question about a valuation i want to do on a property up for auction in a month’s time.
How do i go about getting this particular place valued? I’m new to this, so i don’t know too much about this side of things. I would like to know what the place is valued at before going to auction. Can i organise with the vendor to have someone walk through? Is thre any privacy issues involved?
Any help would be great.
Destined
Hi,
First thing to do is choose a valuer. You could look in the Yellow Pages under Valuer-Real Estate.
Then ask the vendor (through their RE agent) for a time that is suitable to them, for your valuer to visit. Part of your due dillegence. I would also get a pest and building report. You don’t want any nasty surprises[blush2]
You will of course be up for the costs wheather you end up buying it or not.
A suggestion also is to talk to all the RE agents in the area and ask them about recent sales similar to what you are looking at. You never know you could find a little gem in the process.[biggrin]
Don’t think there are any privacy issues involved.Sharon
DFM,
If you are after a valuation to get an indication of price to purchase, the best option is get comparable sales information for similar property types in similar areas
Of course the more relevant valuation you could get are
1. Sworn valuation (which can be done by RE agents)
2. Valuation assigned for 1st mortgage purposesand for a good laugh post the % difference between 1/ and 2/
“Never argue with an idiot, as they will bring you down to their level and beat you with experience”
Hi Mate :
Im pretty new to this stuff myself, so dont take this a gospel.
I was going for a loan to build a house on a block that I perchased about 12 months ago.
Had the valuation done and it came up shorter than I expected, because the last house to sell in the area that was the same as my plans 4 bed DLUG was only $260K, this was an older property that didnt go near what we were planning on building but it was however a 4 bed DLUG on similar size block.
So thats what our house and land was valued at, when the finnished product should be sold for around the $400K mark.
So its valued on the last property sold in the area that is similar to yours.
Cheers Braddfm
if you want a valuation, get a valuation from a qualified valuer, yellow page search, aust.property institute, real estate valuer etc.
other real estate agent ‘appraisals’ will be nice, but meaningless, they are from sales people, not valuers…they are also from sales people who did not get the opportunity to make the sale….less than meaningless pops into mind.
a sworn valuation is only done by a valuer.period.
your inspection with your valuer will be done during an ofi, or by appointment, really no privacy issue there.
some valuers prepare pre purchase reports, they will give you a range, ie. between x-y = good buying, between y – z = getting a bit steep, z = pull out big boy!!!!
cheers
brahms
CALL NOW…adults only (boys and girls ask mummy or dad first) ~~ 1900 hot broker ~~
You must be logged in to reply to this topic. If you don't have an account, you can register here.
