Has anyone recently done a bank valuation on their western sydney property for the purpose of topup/equity release, rather than a new purchase?
What has been your experience? Is it lower or higher than your anticipation ( or what you believe the market value)?
In the last few weeks, I requested a bank valuation in my portfolio for the purpose of equity release.
Prior bank valuer get's onsite I will make sure the he/she get's my comparable submission. My submission would be more extensive than what the valuer provided to valex. My diligence goes to extent calling council on comparable about approval on extension/studio status, and based on rpdata,, RE and talking few local agents.
For Non western sydney properties I basically got what I anticipated in my report submission.
However for 2 Western Sydney properties, they're both 10% lower from the market value ( or a price I anticipated ) We can get into details of each of the property but there are comparable sales that justify it.
I disputed both valuation, just for the learning but as expected 0% of winning a dispute.
Just wanted to hear from those who recently extracted equity from Sydney West properties. Thanks!!
What has been your experience? Is it lower or higher than your anticipation ( or what you believe the market value)?
In the last few weeks, I requested a bank valuation in my portfolio for the purpose of equity release.
Prior bank valuer get's onsite I will make sure the he/she get's my comparable submission. My submission would be more extensive than what the valuer provided to valex. My diligence goes to extent calling council on comparable about approval on extension/studio status, and based on rpdata,, RE and talking few local agents.
For Non western sydney properties I basically got what I anticipated in my report submission.
However for 2 Western Sydney properties, they're both 10% lower from the market value ( or a price I anticipated ) We can get into details of each of the property but there are comparable sales that justify it.
I disputed both valuation, just for the learning but as expected 0% of winning a dispute.
Just wanted to hear from those who recently extracted equity from Sydney West properties. Thanks!!