Experiences with volatile valuations

[ZachAnSel]

Hiya,

Can someone remind me valuation when the clock on 13:00?, usually this is the best valuation season based on my exp. I know things chance after GFC..

 

[Roachy]

What sort of valuaion was this? Desktop/drive by?

Because if it was a full valuaion theb there must of been a least one property close to that range unless your property has something adverse. The valuer needs to show the valuation through comparable sales. Why not find some and dispute the valuation?

Hey there Brady,

The valuation was a full valuation. Can't think of anything adverse.

Unfortunately the bank wont provide me the valuation, as its 'there property' even though I paid $130 for it.

Grrrrrrr.

I want to dispute this, but I think it would just ruin my settlement which happens on the 03 Dec 13.

 

[Marty McDonald]

It's very tough in Sydney at the moment. Anyone bidding at auction without a significant equity buffer is at serious risk. Prices mainly above the no Val thresholds for free standing houses too.

 

[Brady]

Hey there Brady,

The valuation was a full valuation. Can't think of anything adverse.

Unfortunately the bank wont provide me the valuation, as its 'there property' even though I paid $130 for it.

Grrrrrrr.

I want to dispute this, but I think it would just ruin my settlement which happens on the 03 Dec 13.

That's a bit rough paying for it and not receiving a copy of it or access.

Has it affected settlement? Guessing there was still enough equity to do what you want to do? (Hope properties aren't being crossed collateralised)

Disputing now could mad settlement tough.

This is where prior planning and correct structuring is very important, along with taking the money from the bank when you can. In future I suggest getting valuations for existing properties well in advance and taking the equity straight away if available.

 

[Colin Rice]

-4% of val challenges are accepted.

Got a val back this week form Homeside for 550k kerbside. ANZ Desktop was 640k and CBA 632.5K.

Yet another reason not to limit yourself to one lender.

 

[RetireRich101]

I got a rpdata AVM/desktop val for a property at $543K prior a topup.

When I got all my paper work ready, AMP performed a desktop val (which exactly 1 week later came in at $513K (mind you the AMP val report is just a rpdata AVM)

I was puzzled as to why and a devalue.. as 6 comparable properties used in both report were the same.

However the 1 week apart saw 2 properties got sold, and I guess I was unlucky as this 2 properties drag down the Estimated low and high range, hence the overall valuation came down.

that moment I kissed good bye to my $30k equity ;(

 

[Rolf Latham]

that moment I kissed good bye to my $30k equity ;(

force a full val ??

ta

rolf

 

[Rolf Latham]

-4% of val challenges are accepted.

minus 4 % is about right

ta
rolf