Essentially unlimited, free desktop valuations.
- Thread starter Richard Feynman
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- desktop val rp data valuation
CBA desktop valuation
It was a full walk thru valuation.
I might got the valuation firm ticked at the beginning.
In a space of 6 months I had 2 walk thru valuation done and on both occasion CBA selected the same valuation firm.
It may be a bit short time frame, but I had approved and final OC issued ( cut up 60m2 space for a granny flat) in that time frame so was desperate in extracting the equity..
I was confident the valuation firm was under valued, as market sold for comparable are over $580k. I had open dispute for both vals but with no luck..
both my broker and I thought walk thru val was the only logical step and would achieve higher val. I was under 80% lvr.
my broker also told that he can influence/control which val to submit, especially the rpdata AVM..
i learn things new everyday. Banks accepting rpdata AVM on 80% is a nice knowledge to have for investor. you can generate AVM before you serious about a purchase before you actually pay a holding deposit.
i have temp rpdata avm access, am keen to explore some listing price versus rpdata AVM...
It was a full walk thru valuation.
I might got the valuation firm ticked at the beginning.
In a space of 6 months I had 2 walk thru valuation done and on both occasion CBA selected the same valuation firm.
It may be a bit short time frame, but I had approved and final OC issued ( cut up 60m2 space for a granny flat) in that time frame so was desperate in extracting the equity..
I was confident the valuation firm was under valued, as market sold for comparable are over $580k. I had open dispute for both vals but with no luck..
both my broker and I thought walk thru val was the only logical step and would achieve higher val. I was under 80% lvr.
my broker also told that he can influence/control which val to submit, especially the rpdata AVM..
i learn things new everyday. Banks accepting rpdata AVM on 80% is a nice knowledge to have for investor. you can generate AVM before you serious about a purchase before you actually pay a holding deposit.
i have temp rpdata avm access, am keen to explore some listing price versus rpdata AVM...
Wow, this is way off.....unfortunately. I've just had full Val's done through CBA on two properties, one came back at $310k and the other at $320k and the mywealth site is showing the lower one as $416k and the other as $472!
Wish I had have known about this previously as I wouldn't have tried to take them up above 80% LVR triggering full vals.
Wish I had have known about this previously as I wouldn't have tried to take them up above 80% LVR triggering full vals.
Bummer. But this tool will probably be around for a while, so maybe you can go for < 80% desktops in 3-6 months and pull the wool over their eyes.
Yup Cba like a lot of banks use desktops when it meets their criteria. Now you have a full val, that will influence any future desktops with Cba for probably 3 to 6 months depending in the number and type if comparable sales happen in the meantime.
If your keen to go now, why don't you get a desktop from another lender and see if that works out better? Anz can use desktops up to 90% in many cases for instance.
If your keen to go now, why don't you get a desktop from another lender and see if that works out better? Anz can use desktops up to 90% in many cases for instance.
Thanks Richard. Interesting tool. Some valuations came close based on recent bank desktop vals.
Have noticed with ANZ since they have upgraded the online val system it is selecting less desktops and more full and kerbside vals.
Seems that loophole has tightened?
I don't know for sure what CBA does, but in my experience, their desktop vals have aligned with what MyWealth told me, and I've refinanced back up to 80% a few times using this method. "Here's what I reckon X property is worth". They pop it in and go "System agrees, here's your money, sir".
A broker should know about the wait time for the new application.
That probably explains why the last 1/2 dozen or so have been defaulting to full and kerbside.
Cheers for the tip CJay.
My mywealths are $ for $ with cba desktops
Wasn't my experience on a recent deal.
Desktops where lower than mywealth yet higher than full val?
I just tried this out for the first time
My PPOR says its worth about half of what a bank's valuer recently valued it at
2 IP's i currently have offers on are supposedly worth $50-$75k more than i'm offering
Good news that you are buying 2 more!
Try once they are settled and they may come 50k less than what you paid!
We recently offered to purchase a property and it was some 15k above our offer and when we applied for finance it has gone to 40k lower than offer. Within a couple of weeks. Such a joke that system is.
The valuation MyWealth gives cannot be relied on as a correct valuation. It fluctuates a lot within short period. (Ihave monitored the valuations of three properties)
But it is very useful to access equity from CBA. Just follow the valuation and when the valuation is favourable ask them for a top up and they won't mind!
Nailed it.
