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  1. R

    Crowd sourcing: similar experience buying off the plan with low low valuation

    yes but they should get one done either.. Before they sign.. or sign subject to a valuation. No apartment project is that great it sells out before a valuation could be completed, no matter how much the sales person insists it will be. No off the plan apartment in a new to be erected...
  2. R

    Crowd sourcing: similar experience buying off the plan with low low valuation

    Why people do not get an OTP independent valuation done (for mortgage security purposes) prior to purchase is beyond me. They will get a $10k car checked but not spend a few hundred dollars on a valuation of a purchase worth hundreds of thousands, with significant financial liability. Few...
  3. R

    $500K in Melbourne - where would you buy? (Needs to be west)

    You see this is where there is the difference between us. 34% in the top 25% is so/so, to acceptable to me, also with just 121 students is in my mind too small to have decent facilities and a solid budget. That is only one class per grade on average. Whereas 66% in the top 25% at...
  4. R

    $500K in Melbourne - where would you buy? (Needs to be west)

    I care not for tours and spin in my initial filtering. All I care about are results. I know there are many schools out west with good teachers, it is just the cattle on the paddock and thus the level at which the teacher has to pitch the classes. For example the school opposite me has...
  5. R

    $500K in Melbourne - where would you buy? (Needs to be west)

    For investment I would consider: Altona Meadows, north of Central Ave/Queen St Maidstone Albion Altona North Unit in Newport or Williamstown Glenroy or Hadfield (actually north not west) As for Schooling in the West. This is my current dilemma, I have a young one starting...
  6. R

    Park & Fly Carparking Space

    Why would anyone buy a tandem carspace (nose to tail parking, where the rear out parks the front car) when for the same price you could buy two side by side carparks?
  7. R

    Selling OTP, arms-length?

    Say 4 units upon completion are worth $400k each, end value $1.6m. Valuation of 4 units on one title will likely be around $1m. Bank will lend you say 80% of that, so $800k. You will need to show you can service that debt and with a $90k income with another property geared at 95% it is...
  8. R

    Selling OTP, arms-length?

    Nope, you will get a deposit which will be held in trust and the balance once title and Certificate of Occupancy is issued. You will have to finance the whole development yourself with a lender who will make progress payments to your builder. You are confusing a House and Land Package with...
  9. R

    Do valuers notice the details?

    :) They are chattles, therefore they have zero value for mortgage security purposes. I have seen $100k spent on drapes in a suburb with an average house price well under $400k. Oh and neither does the 6 by 2 studs you built the frame with when you owner built the property. Or the...
  10. R

    Another volatile valuation question - rather urgent

    That is bad. In inner city apartments a carpark is worth big money. The number of carparks makes a difference. It is one question the valuer should always ask and if in doubt get a copy of the title and plan to find out as it has a material impact on the valuation figure.
  11. R

    Do valuers notice the details?

    Of course they do, that is why they are taking notes, it is all in the report to the client (who is the bank). As for the difference between the two, well how much more will the market pay for the primo spec dwelling and can you prove it? Yes there should be a difference, both in resale...
  12. R

    Experiences with volatile valuations

    I will start of by saying that I am not defending incompetent valuers, of which there are many. However, valuers can now use unsettled sales in their sales evidence, so long as they have three settled sales in the report. A little while ago I was chatting with the manager of my office. He...
  13. R

    4 unit site - selling OTP

    Yep, You put the units to sale by Auction, subject to settlement when individual titles are issued. The recalcitrant buyer has to make up any negative difference between their contracted price, less deposit and the sale price. You get the titles, settle then launch court action against...
  14. R

    Broad Meadows

    I agree, don't! Buy in Glenroy instead.
  15. R

    Valuation without application

    Sounds about right for a quote for a private job. Way cheaper to go through a broker.
  16. R

    Valuation without application

    Where is the property and what is the approx value?
  17. R

    Valuation without application

    CBA has customer direct orders as far as I know. This is up front valuations orered by their customers. I just spent 2 minutes on their site and came up with this. (Branch staff often know very little) Customer Ordered Valuation What is the security value of your property? What...
  18. R

    Will a valuer put a value on planning permission?

    Copied from the "Valuations Again" Thread For a development site you need to get a commercial valuation done and probably borrow on commercial terms. Valuation standing instructions for residential mortgage valuations are to IGNORE all development potential and value as a single dwelling...
  19. R


    I am doing a BankWest customer direct order valuation right at this moment.