Independent Valuation

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From: Andrew Parsons


Hey all,

We met with McCarthy Group again last night and again were impressed with their forthrightness and honesty.

All costs appear to be up front and all of the numbers appear to be on the conservative side.

The curly questions were answered honestly, and when I tried to push for more property (as a test), they earnestly recommended not to, because if we do well at first, we'll be more inclined to buy more later when we can better afford it.

However, one thing remains and that's an independent valuation of the property they were showing us. We asked if it would be possible and they said yes.

Now I don't know what to do. I've got the OK for independent valuation but where do I go to get one?

Thanks
 
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Reply: 1
From: Rolf Latham


Hi Andrew

Plenty of Valuers around, yellow pages are good, Herron Todd White are a national company for example, you payest your money from about 250 up and youll get a fair valuation.

A good way to double check is to take a 95 % Mortgage Insured Loan on the property WITHOUT any cross collateralisation. That will soon sort out any excess pricing, because the lender/mortgage insurer will look more closely than when they also have your property.

Nothing beats an unattached valuation though.

Ta

Rolf
 
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From: Andrew Parsons


Thanks, I didn't even consider that it could be that simple.

McCarthy Group also market their Master Mortgage Solution which includes loans for your investment properties that are completely independent of your existing mortgage - ie, no cross-collatorisation.

Will keep you all posted as to how it's going.
 
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