Hello,
Just wondering how influential recent sales are for revaluations and how close valuers prefer the houses to be in terms of location and the interior/features of the house when comparing.
The house directly across the road from our PPOR was sold recently for a bit more than we paid for ours last year. It is pretty identical to our house with the main difference being we have a nicer/newer bathroom. If I add say 10k to their price to account for the bathroom, this is just under 10% more than what we paid.
If we revalued, what is the likelihood of getting this as the result? There are a number of other sales within that range but I thought that'd be the best one to use as it's a very close match. Also, if we revalued, what's the likelihood of getting part of the LMI refunded?
Thanks
Just wondering how influential recent sales are for revaluations and how close valuers prefer the houses to be in terms of location and the interior/features of the house when comparing.
The house directly across the road from our PPOR was sold recently for a bit more than we paid for ours last year. It is pretty identical to our house with the main difference being we have a nicer/newer bathroom. If I add say 10k to their price to account for the bathroom, this is just under 10% more than what we paid.
If we revalued, what is the likelihood of getting this as the result? There are a number of other sales within that range but I thought that'd be the best one to use as it's a very close match. Also, if we revalued, what's the likelihood of getting part of the LMI refunded?
Thanks