Hi Guys, Thanks for your reply’s I have some leads to follow up on, sorry about the delay in replying, tied up with shift work and a house I’m preparing to relocate onto a subdivision I’ve done here in NZ. Found your replies interesting. Sorry I don’t go much on the “Hope” they give you what you want scenario (the valuation I want is a true and honest valuation taking into account the condition etc. of the property compared to recent sales in the area, nothing more, nothing less), I prefer a ‘this is what my property is worth, now who wants my business approach’. This is the approach I used here in NZ for a recent refinancing with good success. I rang six mortgage providers in Aust. with a mixed result, some accepting registered valuations some would send a valuer from their own panel to check a registered valuation (at their cost) and some who only accepted their own panel. I paid for 2 valuations here and there was almost $100K ($375K to $463K) difference in the valuations (found out later the lower valuer was renowned to be very conservative and the second did a thorough job of researching current prices. A tip I’ve learnt through ESC (Richmastery) is to ask the valuer to ring you with his findings before doing a written report. (normally costs less over here) So I think it was worth the extra $300 for 2 valuations. I believe a second opinion never hurts. Will keep you posted on how I get on. Not sure on how AS41’s question ended up on replies to my enquiry but exemplifies what I mean by just accepting one valuation be it a bank or an independent valuer. Maybe if more people started insisting on proper valuations and comparing and querying the valuations instead of just accepting them you might start getting what you pay for and put the slack valuers out of business.
Cheers Kizz
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