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Originally posted by Lotana
If your DSR is OK and the only limiting factor for the loan is LVR, your bank would be happy if the valuation comes at the top of the realistic price range. So it is your (or the agent's) job to help the valuer to justify this value. A year ago I bought a Residex report for my house and researched recent sales in the area. Then I compiled the figures and left a brief report to the valuer who I couldn't meet due to other commitments. The result - they valued the property at $850K, which was $125K higher than previous valuation done by the same bank 2 months earlier (I didn't bother providing any input for the first valuation).
Say cheese
Lotana
This is an area where it is VERY good to have an agent on your side, and who know what you want to do. The agent will give you a realistic to optimistic value- if he knows you are using the price given as support for a valuation, and a valuation you are using to but a new property.get an agents market value as well