Are photos normally taken when having a revaluation done?

[klassen]

Getting my PPoR revalued after 1.5 years. The area has been in the top 10 growth suburbs according to various online resources. So looking to hopefully get a bit of additional equity to fund further purchases.

Anyway, this as this is the first revaluation i've had done on a property. I just want to get an idea of what to expect and what is actually permissable.

The valuation company called today and arranged a time later this week.

Is it simply going to be someone comes out takes a few photos of the external and internal parts of the property, tests a few things, makes some notes and then leaves?
If valuation comes back lower than expected based on comparables I've seen sold recently, can I argue a case?

Cheers

 

[Jamie M]

Hiya

They'll take 10-15 mins.

They will whip around measuring stuff and taking pics.

Don't expect a conversation or a smile No - I'm just generalising.

It's very common for valuations to come in lower than the clients estimate. Technically you can challenge it - realistically it's difficult to have them change their mind.

Cheers

Jamie

 

[lizzie]

You can argue - if you have the figures - but valuations are generally done on the assumption of a "fire sale" so often come in slightly lower.

 

[Blurbman]

If you are going to be present when they attend, it doesn't hurt to provide them with copies of sales of comparable places in the suburb. While they would probably note the sales anyway it makes their job a bit easier, and you can indicate how yours are similar.

Once the valuation is in, it's very hard to get them to change it unless they missed something entirely. I managed to get them to do it again after they failed to value a granny flat, which as it's a corner block, simply looked like the next door house.

Good luck anyway.