Background.
commenting valuer did a val for wbc, the outcome of which was lame.
ordered anotherval from diff lender 50 days later.
Client wants to stay with wbc, so we went back toWBC valuer with a request.
ta
rolf
Thank you for your email and the valuation report provided by the other valuer
I have reviewed my valuation and also perused the other valuer?s report. I found that my valuation figure for $500,000 was a fair market value of this property on 02/10/2013. I also agree that the valuation figure for $560,000 for the same property was reasonable on 27/11/2012.
As you may be aware, in the Sydney property market, especially in western suburbs (e.g. Blacktown), the purchase price has increased significantly (about 20%) in the immediate area, as a result of a shortage of stock and the interest rate has remained low in the past 6 months. In addition, dual occupancy properties have become attractive to investors because of the higher rental return rates, of about 8%p.a..
Hence, it is not unusual for a $60,000 difference between two valuations in about 2 months. Unfortunately, I am unable to increase the valuation figure which I did on 02/10/2013.
commenting valuer did a val for wbc, the outcome of which was lame.
ordered anotherval from diff lender 50 days later.
Client wants to stay with wbc, so we went back toWBC valuer with a request.
ta
rolf
Thank you for your email and the valuation report provided by the other valuer
I have reviewed my valuation and also perused the other valuer?s report. I found that my valuation figure for $500,000 was a fair market value of this property on 02/10/2013. I also agree that the valuation figure for $560,000 for the same property was reasonable on 27/11/2012.
As you may be aware, in the Sydney property market, especially in western suburbs (e.g. Blacktown), the purchase price has increased significantly (about 20%) in the immediate area, as a result of a shortage of stock and the interest rate has remained low in the past 6 months. In addition, dual occupancy properties have become attractive to investors because of the higher rental return rates, of about 8%p.a..
Hence, it is not unusual for a $60,000 difference between two valuations in about 2 months. Unfortunately, I am unable to increase the valuation figure which I did on 02/10/2013.