Valuations - go through broker or organise myself?

Hi,

I am wondering what the best method is for getting valuations to release equity from properties in a portfolio?

Our current portfolio including PPOR includes 3 properties. Given these are all in Sydney I would like to get them revalued again in the coming months.

So far we have relied on our mortgage broker to organise the valuations with the relevant bank on our behalf - CBA and Westpac.

This has resulted in mixed experiences. Recently I have found it hard to get copies of the full valuation from the broker - is this normal - or should they be able to provide this to me? I like to see this as I like to see what sales comparables they have used.

Would I be better off organising my own valuations with a lender approved valuer and dealing with them directly to make sure I get a copy of the full valuation?

I realise valuations can be a bit hit and miss and I have heard that it is hard to have contact with valuers when Valex panel is involved, but I am interested to hear how others approach this as it's a critical part of growing a property portfolio - i.e. releasing equity for the next purchase - and I'm desperate to get it right.

Interested to hear responses from brokers and investors if possible.

Cheers. :)
 
All brokers should have access to CBA upfront vals.

Some of us have access to WBC upfront vals.

Both are sent directly to broker - so they should be able to provide you with a copy.

Cheers

Jamie
 
If you got your own vals done this would not be accepted by the bank, the valuations would have to be reassigned or redone on instructions from the bank/broker.
 
If you got your own vals done this would not be accepted by the bank, the valuations would have to be reassigned or redone on instructions from the bank/broker.
Assuming the bank accepts the valuation. They might have a different panel valuer for that location and not accept one completed by a different firm.

Get your broker to organize it. It will then be acceptable by the bank.
 
I n the case of WBC it is ofetn possible in a round about way to get ur own val and have a similar result from their own val.

Not so with cba, rarely will they allow assignment of a client paid direct val

Ta
Rolf
 
All brokers should have access to CBA upfront vals.

Some of us have access to WBC upfront vals.

Both are sent directly to broker - so they should be able to provide you with a copy.

Cheers

Jamie

Thanks for the replies guys. Sorry Jamie what do you mean by "upfront vals"?

Cheers.
 
Top