All Topics / Finance / Paper Valuation Company Reports- Getting incorrect data changed

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  • Profile photo of fredo_4305fredo_4305
    Participant
    @fredo_4305
    Join Date: 2009
    Post Count: 336

    Hi Everyone,

                               I have recently through my broker got some valuations CMA or whatever you want to cal it prior to getting a proper val conducted.

    My property is located in QLD, two lots on one title, total of 1022 m2, the house is smack bang over the two lots.

    On the 2 reports I have received, one from Residex and the other from APM, both have only included one lot on the report, of 495 m2. I thought a fixable mistake when I received the Residex but when I received the APM something was amiss, I contacted both and they are in the processing of changing. 

    The state gov land office has my property as 1022 m2, as I have the letter to prove it, but where are these companies getting there info from? They stated to me it was from the Gov but the Gov appears to be correct. There is a problem somewhere and I need to address the mothership so to speak.

    I can understand the confusion of two lots one title but doesn't always help me come valuation time etc, I just want it fixed as the little things count. How many other companies could be getting it wrong.

    Thanks

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856

    In your case the desktop valuation is worthless as you don’t have a cookie cutter block. Get a real valuer rather than an extrapolated computer model.

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

    What Scott said.

    The data that's pulled from desktop reports doesn't take into account certain factors – including renovated properties and additional dwellings on the title.

    The only way you're going to get an accurate valuation is via a full  inspection.

    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]

Viewing 3 posts - 1 through 3 (of 3 total)

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