Essentially unlimited, free desktop valuations.

I thought I'd share something for CBA customers which I recently discovered.

Via www.mywealth.commbank.com.au you can punch in your PPOR/IP address/s and it appears to instantly sync up to the same RP Data valuation system that the branches use (someone correct me if I'm wrong).

This means at any given time you can discover what CBA (and presumably others using RP Data) will come up with if they do a desktop val on any of your properties.

Not sure how much use it is to everyone, but it's certainly a big help to me in the lead up to another equity extraction –*I can estimate my PPOR val in line with theirs to avoid a curb side val if there's a discrepancy, and work out exactly how much equity to extract to get the LVR to 89.9% to avoid a big LMI hit.
 
brokers correct me if im wrong, but my accountant informed me today that cba and suncorp are supposedly reputed into bringing in lower vals than other banks

she was saying that with one of her ips cba brought it in @240 and nab brought theirs in at 320, quite a difference......go figure
 
brokers correct me if im wrong, but my accountant informed me today that cba and suncorp are supposedly reputed into bringing in lower vals than other banks

she was saying that with one of her ips cba brought it in @240 and nab brought theirs in at 320, quite a difference......go figure

It's got very little to do with the banks and a lot to do with the valuers. The banks don't value your property, they get a licensed valuer to do this. The reality is that most lenders now outsourse this to a group called ValEx (www.valex.com.au). ValEx then sub-contracts this to the valuation firms that they've determined to be appropirate to that area.

There's a good chance that the valuer used by ANZ will be exactly the same as the one used by NAB or CBA. It's got almost nothing to do with one bank being more conservative than another.

Valuers are getting more conservative (as most brokes will tell you). This tends to be a result of cost cutting from the lenders which is a result of them wanting to be compeditive. Valuers have to accept jobs for less money so they don't do the job as well.


Myself and several other brokers on this forum also offer free RP Data or Residex reports for years.
 
Tried to discover it like you but couldn't find the right place to click once on the site to enter the address details of the IPs (even being and existing NETBANK user). Any clues???

Just keep clicking stuff, you'll ge tthere eventually.

(well, that's what I just did.)

EDIT: Actually, disregard, I still haven't found it.
 
Tried to discover it like you but couldn't find the right place to click once on the site to enter the address details of the IPs (even being and existing NETBANK user). Any clues???

Same here.

Some of my IP's were listed under properties, even though I've not been to that site before, probably found them from netbank.
Still can't find out how to do a valuation.
Entering an address seems to do nothing.
 
This is what I can gather:

On this page:
https://www.mywealth.commbank.com.au/Portfolio#!/investments/property

click 'Add Your Property', enter the address, and add it to you portfolio. this will show you the valuation.

FYI: it links the property to one of your loan accounts. if you already have all your loans linked properties, then to find out the value of another property the only option you have is to remove one of your existing properties.

cheers
 
Sorry folks. If burning's post hasn't helped, I'll detail instructions when I've got a spare couple of minutes. Bit time pressed, but still wanted to share.

p.s. I am pretty sure you need to be a CBA customer for this to function.
 
p.s. I am pretty sure you need to be a CBA customer for this to function.

I think you are correct but you also may need CBA loans secured against those properties so that you can now enter those addresses into your portfolio.

So somewhat less than I was hoping for even being a CBA member.
 
I thought I'd share something for CBA customers which I recently discovered.

Thank you for the information. CBA was sending notifications about this feature but I never bothered to try until reading this post. :)

By trying both our properties, we found that the RPdata figures are not so helpful. One is over valued by 10% while the other is undervalued by more than 10%

I am wondering whether Combank really use these figures. I mean when refinancing, they ask for the house values. So if we give the over valued property the value they give and then ask for a valuation for undervalued property, will it work or whether they will go for valuation of both properties?

Singo
 
I am wondering whether Combank really use these figures. I mean when refinancing, they ask for the house values. So if we give the over valued property the value they give and then ask for a valuation for undervalued property, will it work or whether they will go for valuation of both properties?

I looked at this out of curiosity and decided not to proceed when the first query was for my customer number. I guarantee you they're keeping a record of which properties you're inquiring about and the results will be using that part of their data mining. Lenders keep records of every interaction they have with customers and I've been supprised on more than one occassion when an assessor asks me a question or tells me about something that a customer did well prior and completely unrelated to a loan application.

You can sign up without disclosing a customer number, but similar resources are available also for free. This system is clearly designed to get you to disclose all your personal information to the CBA and that data will be mined for marketing and verification purposes.

Funny thing. I once read that Facebook was actualy sponsored by the NSA. People were protecting their privacy, so they created a social media site and people throw their personal info away. The article was satire on a comedic site, but it makes you think. Probably the worst think I ever saw on Facebook was someone proudly uploaded a photo of their new drivers license. It was screaming, "Steal my identity".
 
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I looked at this out of curiosity and decided not to proceed when the first query was for my customer number. I guarantee you they're keeping a record of which properties you're inquiring about and the results will be using that part of their data mining. Lenders keep records of every interaction they have with customers and I've been supprised on more than one occassion when an assessor asks me a question or tells me about something that a customer did well prior and completely unrelated to a loan application.

You can sign up without disclosing a customer number, but similar resources are available also for free. This system is clearly designed to get you to disclose all your personal information to the CBA and that data will be mined for marketing and verification purposes.

Funny thing. I once read that Facebook was actualy sponsored by the NSA. People were protecting their privacy, so they created a social media site and people throw their personal info away. The article was satire on a comedic site, but it makes you think. Probably the worst think I ever saw on Facebook was someone proudly uploaded a photo of their new drivers license. It was screaming, "Steal my identity".

We have PPOR & IP loans with CBA & I was a bit hesitant initially for that very reason (data mining) so thanks for that :)
 
For my first 3 properties, it asked for an address and gave me a valuation. For the next properties, the initial screen to provide address won't pop up - it goes straight to the second one where you create a nickname and link the property, hence....no valuation. Any ideas anyone??
 
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