Tips for getting a realistic valuation

The story is we have two nice 3x2x2s in Balga, in the 2008 Mia Mia land release part (surrounded by homes all less than 5yrs old and no dept of housing houses). They are side by side, good spec (high ceilings etc), both with frontage at the end of a culdersac.

I put the value on them at $410k each based on the following sales and the fact that currently the cheapest 3x2x2 in Balga on is "from $399k".

3/65 Fieldgate Square, Balga $399k 29/6/13
1/2 Lancing Way, Balga $410k 11/6/13
1/6 Balney Place, Balga $435k 29/5/13
3 Lavant Way, Balga $415k 28/5/13
2/2B Palyden Way, Balga $420k 17/5/13
2/27 Loughton Way, Balga $407k 8/5/13
1/16A Garrick Way, Balga $420k 6/5/13
2/7B Modena Place Balga, $410k 14/4/13
2/13A Hemsey Street, Balga $402.5k 1/4/13
1/65 Fieldgate Square, Balga $399k 15/3/13

The valuer for one of them has come back with a valuation of $380k. The wife is letting the valuer for the other into the property on Friday.

Any tips as to what to say / give to the valuer to get a realistic valuation?

Hoping that it comes back realistic and the bank can ignore/over ride the low valuation as the houses are identical.
Provide them with the sales evidence above and reasons for your value estimate. This will help guide their decision but might not change it.
The best approach if possible is to get 2 vals from 2 lenders if you aren't getting the VAL that you want

Typically if both are low a third will also come in low.

Also with thatmulti VAL process you need to ensure you don't end up with the same valuer......... or vals head company.

Other than that, Valuers generally can't be influenced beyond the data.


The other valuer put a value of $400k on the second unit (which is slightly smaller). Closer enough for me. The loan broker has lodged a dispute with the bank to get the first valuation amended.

Reason for valuation is when I purchased the property they were both on one title and i had 95lvr (with no LMI :D ). Now new titles are ready I am refinancing based on new values.

Funny thing is I purchased the property from a "property expert" (one of the kind that sells homes for builders to mums & dads) from his personal portfolio. Purchased March 2013 for $650k, $4k to get strat titled, now bank valued $800k. His loss, my gain!