My partner owns our PPOR outright.
In Lower North Shore of Sydney. Purchased for 2.5m in Jun 2008. RP data value of $3-$3.5m which is about right given sales over the past couple of years (although turnover is really low in this neck of the woods).
Just looked to one of the majors to take out an equity loan of 1.9 m (bit over 50 % LVR) to purchase an investment property. They sent in a valuer.
Absolutely astounded- he came back at 2.55m! I told my partner I will buy it off him for that price.
Has anyone heard of valuations coming in so much under RP data/market worth? The valuer also demonstrated some really bizarre behaviour (i,e. Booked an appointment on the 24th then turned up unannounced on the 31st and did not even state who he was. Asked my partner what the house was worth.)
i think I will get into the valuation game. 15 mins work. Take RP data and subtract 20%.......
Any ideas from the forum? What would you do?
In Lower North Shore of Sydney. Purchased for 2.5m in Jun 2008. RP data value of $3-$3.5m which is about right given sales over the past couple of years (although turnover is really low in this neck of the woods).
Just looked to one of the majors to take out an equity loan of 1.9 m (bit over 50 % LVR) to purchase an investment property. They sent in a valuer.
Absolutely astounded- he came back at 2.55m! I told my partner I will buy it off him for that price.
Has anyone heard of valuations coming in so much under RP data/market worth? The valuer also demonstrated some really bizarre behaviour (i,e. Booked an appointment on the 24th then turned up unannounced on the 31st and did not even state who he was. Asked my partner what the house was worth.)
i think I will get into the valuation game. 15 mins work. Take RP data and subtract 20%.......
Any ideas from the forum? What would you do?