Possible to get a destop valuation for a vacant lot?

[MaggieMcT]

Hi Guys,

I looked at older threads and it seems that this might be tricky but is possible? If it is could I be cheeky and ask if any of the brokers on the forum would be willing to get one for me?? We own the lot ...it was last valued by ANZ back in June (we bought in Jan).

Thanks very much,

Maggie.

 

[Peter_Tersteeg]

Happy to do one (email the address to [email protected]), but vacant lots often make lousy reports.

Reports rely heavily on number of bedrooms & bathrooms on compatible sales. Vacant lots don't really fit this box very well, although Residex does use the lot size as one of it's tests (but gives very little weighting to it).

If you're the first owner after subdivision, the report will be even less relevant.

 

[MaggieMcT]

Hi PT Bear,

Thanks very much. I really appreciate you taking the time. Yes we are first owners after sub-division so it will probably be pretty meaningless! Would love to know what it would show all the same!

Thanks again,

Maggie

 

[Mick C]

If your on the ANZ break free- you can request for a Full valuation for free ( upfront- no need for a credit hit)

 

[MaggieMcT]

Hi Mick,

Thanks very much, very nice of you, but we are not with ANZ - we're with Westpac at the moment. We don't plan to apply for construction finance 'til Jan so though we'd hold off on trying to get a full for another few weeks maybe...

Maggie.

 

[Rolf Latham]

Hi Mick,

Thanks very much, very nice of you, but we are not with ANZ - we're with Westpac at the moment. We don't plan to apply for construction finance 'til Jan so though we'd hold off on trying to get a full for another few weeks maybe...

Maggie.

Westpac will also do upfronts for nix

ta
rolf

 

[MaggieMcT]

Hi everyone,

Just wanted to thank everyone who replied. We got our valuation back from Bankwest. Delighted with it. Lot has been valued at almost 15% more than we paid for it. Our offer was accepted 10 months ago and settled 7 months ago. Great outcome.

I gave the valuer (through our broker) five settled comparisons that averaged 20% + higher than purchase price, but some comparisons were in neighbouring suburbs as not that many direct comparisons available. There were other sales in the market that were less positive. The valuer used 2 of the comparisons I had mentioned in his report, along with a number of others.

Thanks again.

Maggie.