Independent Property Valuation - Cost ?

[MikeR]

How much should I expect to pay for an Independent Property Valuation for a Sydney property that is worth somewhere around $1.4mill ?

 

[Mick C]

Depends what the valuation is for.

ATO( CGT), Bank, Personal, OSR( Stamp duty)???

Regards
Michael

 

[MikeR]

It will be for Bank (mortgage) purposes.

Bank could get it done at their cost, but in the current market, I don't want to risk it coming in lower than the bank val done 12 months ago.

 

[Aaron_C]

Shouldn't be more than ~$400-500 for a bank valuation as they really squeeze the valuation firms.

 

[Mick C]

It will be for Bank (mortgage) purposes.

Bank could get it done at their cost, but in the current market, I don't want to risk it coming in lower than the bank val done 12 months ago.

Depends on the bank; diff banks have diff threshold- i think for ANZ anything under $1.5M is the same price/free?? another wise it be around $300- 500.

It sounds like your wanting to order your OWN val?? just make sure the val is acceptable to your bank.

Regards
Michael

 

[MikeR]

Yes, looking at maybe getting my own val done, but will be using one of the valuers from my bank's panel.

Just wanting to make sure I didn't get stung for a massive fee.

 

[Mick C]

Give us location(suburb) and company and i will be able to give you a more accurate price.

Regards
Michael

 

[Marty McDonald]

You best check your lender will accept the Val you get otherwise you might end up paying for it twice.

 

[Aaron_C]

Why don't you just get it done through the lender?

 

[MikeR]

Location is Northern Beaches, Sydney.

As much as I am thinking of doing this in the hope of getting a higher val to allow me to borrow more up to 80% LVR, I don't want to risk getting the bank to do the val and ending up with a lower val.

If I get the val done myself and it is no good, I don't need to tell the bank.

Bank has given me their panel of valuers and said they will accept an independent val from one of them. I realise it will cost me more than what the bank would pay to the same valuer.

 

[Mick C]

Yep and it means you can do muti-val from the panel and accept the one YOU like. Something worth paying for at times...

Regards
Michael

Location is Northern Beaches, Sydney.

As much as I am thinking of doing this in the hope of getting a higher val to allow me to borrow more up to 80% LVR, I don't want to risk getting the bank to do the val and ending up with a lower val.

If I get the val done myself and it is no good, I don't need to tell the bank.

Bank has given me their panel of valuers and said they will accept an independent val from one of them. I realise it will cost me more than what the bank would pay to the same valuer.

 

[Mick C]

Northern beach Sydney- 1.4M val should be around $290-$370.

Regards
Michael

 

[RightValue]

My guess is $500-$800 for that as a private valuation ordering it yourself direct with the val firm.

 

[Marty McDonald]

That's nice / stupid of them!

 

[Leghorn]

even though they have said who they have on their panel, i would make sure they are willing to accept a client instructed val as the majority will not......for obvious reasons