Do valuers care about internal mess?

[Tone]

Hey guys,

I just want to know if the internal carpet, paint and the inside of the house in general is a mess from wear and tear would this affect the over valuation ?

Val is for stamp duty / title transfer purposes only.

Or are they mostly only concerned with the land size, bedrooms, bath etc etc

cheers

Tone

 

[SOP]

I would make mention of it. It would be better if you had an approximate cost to bring the house up to the standard of the properties they are comparing it with to determine the value.

 

[perthguy]

Hey guys,

I just want to know if the internal carpet, paint and the inside of the house in general is a mess from wear and tear would this affect the over valuation ?

Last time I had my PPoR valued for a loan restructure the valuer didn't even look inside the house. The valuer walked around the house measuring room sizes only.

 

[travelbug]

Lots don't even go there. They do desktop valuations.

I had one ring me and ask about what it was like inside.

 

[perthguy]

Lots don't even go there. They do desktop valuations.

I had one ring me and ask about what it was like inside.

I hope you told them "nice... real nice!"

 

[SOP]

As this val is for stamp duty payable I am assuming the lower the valuation the better.

 

[Tone]

So ive called one valuer which has done a "kerbside val" without even looking at the property in person.

Called another and they said they cannot do kerbside and must inspect the internals.

Whats the law? im interstate and i cannot provide an internal inspection...

 

[Tone]

As this val is for stamp duty payable I am assuming the lower the valuation the better.

not in my case i want it valued as high as possible

 

[Peter_Tersteeg]

As indicated, a lot of lenders don't even bother with internal full valuations these days, so unless the house looks as bad on the outside as it does inside, it's not going to make a difference.

If the lender chooses to do a full internal valuation the valuer make make some comment on it. I can't say that it won't affect the valuation result, but if it's normal wear and tear and just needs a makeover, it's not going to have a significant impact. You'd be amazed at how much paint, carpet and general maintenance $5k-$10k and a week or two can buy.

 

[Dazz]

You'd be amazed at how much paint, carpet and general maintenance $5k-$10k and a week or two can buy.

After being inundated with 300 various renovation reality shows over the past decade or so, I'm fairly confident the vast majority of the population all over the country have a fair handle on what can be done.

 

[D.T.]

After being inundated with 300 various renovation reality shows over the past decade or so, I'm fairly confident the vast majority of the population all over the country have a fair handle on what can be done.

Im fairly certain 99% of it can be done for under $500 and 48 hours.

 

[Colin Rice]

Im fairly certain 99% of it can be done for under $500 and 48 hours.

Sweat equity!

 

[The Fence]

not in my case i want it valued as high as possible

So that you pay more stamp duty?

 

[Aaron_C]

So that you pay more stamp duty?

The Government needs the cash....

 

[Tone]

So that you pay more stamp duty?

Yes. But pay far less CGT when i sell in future as its an inheritance.

 

[SOP]

So you plan to use a stamp duty valuation for CGT purposes?

 

[Tone]

So you plan to use a stamp duty valuation for CGT purposes?

huh?

Before i get on title a val needs to be done to calculate stamp duty. the higher the val the better.

 

[SOP]

Why don't you approach the valuer who is determining the valuation for stamp duty calculations and try and get the value as low as possible. Explain all the problems with the property.

Then approach a couple of real estate agents to give you an appraisal estimate to use for future CGT calculations.

 

[Tone]

Interesting SOP, ill look into it cheers