Stafford Valuers

[mja]

Hi all!

I'm looking at getting an investment property in Stafford, QLD (postcode 4053) revalued, and I have been given the following as valuers who work this area:

John Martin Valuations​

Wall Property Valuers​

CBRE Brisbane

​

Does anyone have a preference or opinions over which valuer they've worked with who gave them a reasonable valuation?

Otherwise, I'll commission all three as an exercise.

Cheers!

-- MJ.

 

[Rolf Latham]

If I were to choose between those, CBRE tends to be more pro active.

Their valuers actually call you if they have an issue, or we fall short, and to see how we can make the deal work.

ta
rolf

 

[Propertunity]

Otherwise, I'll commission all three as an exercise.

Waste of time and money IMO.

Choose a lender. Ring them to find who is on their panel of valuers. Commission one of them. Assign the val to the lender.
Or better still, just apply for finance to buy the property and let the lender decide.

Commissioning your own is only really useful after you have completed a reno and you want the best price to give you the max loan amount.

 

[mja]

If I were to choose between those, CBRE tends to be more pro active.

Their valuers actually call you if they have an issue, or we fall short, and to see how we can make the deal work.

Thanks Rolf! Good to know.

Waste of time and money IMO.

Choose a lender. Ring them to find who is on their panel of valuers. Commission one of them. Assign the val to the lender.
Or better still, just apply for finance to buy the property and let the lender decide.

Commissioning your own is only really useful after you have completed a reno and you want the best price to give you the max loan amount.

Hi Propertunity - this will probably be the case in a couple of months...after I do a quick reno on the bathroom and some odds and ends.

 

[Propertunity]

Hi Propertunity - this will probably be the case in a couple of months...after I do a quick reno on the bathroom and some odds and ends.

Just be aware that most lenders will not look at a re-val within 6 months of purchase.

 

[mja]

Time to dig this thread up again. I'm going to go back to the lender and ask for another val.

Rolf - CBRE were as useless as a hat full of busted a*holes. They used old comparables and weren't going to change their valuation. Because the mortgage insurers were involved, we only get one bite at the valuation cherry.

Val in August 2009 came in at $440k - the same price as before I renovated the house.

It it possible to commission a valuation and then call the lender (RAMS in this case) and say "Here's the valuation from a valuer on your panel?"

 

[Rolf Latham]

Hiya MJA

Not that it matters coz LMI is in there, but if the comps are stale, LMI wont accept them either so whats the go there ?

Are there later Comps that are useful and actually comparable ?

Dunno what RAMS do from here....................ur best bet may be a RAMS branch and see how it goes.


ta
rolf

 

[Andrew_A]

MJA,

I have dealt with Tony Wall from Wall valuers twice, I thought the values were both reasonable though conservative. I didn't try and get either price increased, which is something you need to do sometimes!

Cheers,
Andrew

 

[mja]

Hi Rolf,

It's good to know that the MI could reject a valuation if the comparables are, well, not-very-comparable.

I found three similarly renovated properties that had sold June-August for high 400's, and the valuer chose:

* One run down property that had an extra bedroom (4 bedroom instead of 3)
* One 3 bedroom property that had sold in April

I'll give it another crack and see how we go.

Hiya MJA

Not that it matters coz LMI is in there, but if the comps are stale, LMI wont accept them either so whats the go there ?

Are there later Comps that are useful and actually comparable ?

Dunno what RAMS do from here....................ur best bet may be a RAMS branch and see how it goes.


ta
rolf