Sydney Property Valuer
- Thread starter j4mesa
- Start date
MVS - one of the best around IMO.
I have use nsre valuations, based on north shore. Don't know if they do mascot, but Bernie offers a very thorough service.
Firstly, any valuation that you request as a 'civilian' will be a 'market value' valuation. In general terms the valuation means nothing.
Secondly, most valuers will not provide a 'great valuation' because it will risk their reputation.
Thirdly, if you want a valuation that means something you need one that is for 'mortgage purposes'. This is what a bank needs to give a loan, a valuation based on mortgage purposes means the valuers PI is up for liability which means the valuer will put a 'true' value of what they think its worth. Without the property being recently sold the valuation will most likely come in under to what you were thinking.
If you want an accurate assessment on what your property is worth today just call up three local agents and get them to inspect and provide an opinion on what they think it would realistically get. Its cheaper and more accurate as to what the property would get on the local market over any valuation a valuer will provide.
Secondly, most valuers will not provide a 'great valuation' because it will risk their reputation.
Thirdly, if you want a valuation that means something you need one that is for 'mortgage purposes'. This is what a bank needs to give a loan, a valuation based on mortgage purposes means the valuers PI is up for liability which means the valuer will put a 'true' value of what they think its worth. Without the property being recently sold the valuation will most likely come in under to what you were thinking.
If you want an accurate assessment on what your property is worth today just call up three local agents and get them to inspect and provide an opinion on what they think it would realistically get. Its cheaper and more accurate as to what the property would get on the local market over any valuation a valuer will provide.
Belvoir, anyone engaging a valuer will get a valuation based on the instructions provided you won't get a market value if you have asked for a valuation for insurance purposes or for end market value on a feasibility based on plans/spec.
Valuations are done to a standard based on the requirements of their professional body - the Australian Property Institute.
Valuations for mortgage purposes are generally instructed by the bank/broker as they have specific requirements covered in their instruction to the valuer.
A real estate agent's appraisal is not a valuation and is based on a lot less rigorous evidence than a valuation. Hence it will produce a different result.
Valuations are done to a standard based on the requirements of their professional body - the Australian Property Institute.
Valuations for mortgage purposes are generally instructed by the bank/broker as they have specific requirements covered in their instruction to the valuer.
A real estate agent's appraisal is not a valuation and is based on a lot less rigorous evidence than a valuation. Hence it will produce a different result.
Obviously he can get a valuation for other purposes...
"- provide a great valuation for selling purpose ? "
You wouldn't get an insurance val for selling purposes. All I am saying is that the only valuation you will get for 'selling purposes' is a market valuation which isn't worth the paper it is written on.
To be honest your reply is a text book case of how things should happen not how they happen on the ground. I guarantee you that an agents opinion will be more accurate than a valuers opinion for a standard sale of a residential property. Valuers do know the market price they just discount what they put on the valuation to cover their employers Professional Indemnity.
Moral of the story, unless you can get a mortgage valuation (it is possible) then getting any other type of valuation to help sell your property is a waste of time.
Rest assured valuers don't adjust their results for the benefit of their pi insurance, they are evidence based ie must be able to substantiate their valuation in court. A number which is not reflective of the evidence doesn't meet the criteria.
Mortgagees require a valuation for mortgage purposes not vendors. Getting one for yourself is a waste of time as you're not conversant with the risk profile of the mortgagee and their lending criteria.
The op has only mentioned that they are selling not the purpose of the sale eg it may be an estate sale, disputed sale for family disputes or other circumstances. So a valuation for mv is their direction to the valuer.
Mortgagees require a valuation for mortgage purposes not vendors. Getting one for yourself is a waste of time as you're not conversant with the risk profile of the mortgagee and their lending criteria.
The op has only mentioned that they are selling not the purpose of the sale eg it may be an estate sale, disputed sale for family disputes or other circumstances. So a valuation for mv is their direction to the valuer.
You are living in la la land if you think valuers DON'T adjust their valuations based on their PI. Like I said, your interpretation of how things happen is text book, not reality.
Substantiate that's the case.
