Valuations are the lifeblood of property finance. And any experienced property investor will tell you, without finance you are not going anywhere. Valuers are asked to perform a very complex task for a very small fee in a very short period of time. As a result, you may sometimes receive a valuation that is not a true reflection of market value. We are sure you have all heard horror stories of contracts being crashed due to low valuations, refinances not going ahead due to low valuations or investors not being able to extract equity from their property due to a low valuation. Our job is to collate all available information relevant to the valuation into a report for the valuer – making their job as easy as possible and minimising the likelihood of a low valuation stopping your property ambitions.
Our comprehensive valuation reports contain all of the information you would expect to find in a bank valuations, such as:
- Land size.
- Comments on the condition of the existing dwelling.
- Comparable sales.
- Comments on the local area and the current state of the market.
- Any views or favourable aspect.
- Proximity to amenities.
However, we also address a range of factors that valuers do not consider in their report, despite the fact that these factors potentially having a huge impact on property values. The additional information that we address in our reports is:
- Overland flow;
- Location of services (sewer, water, stormwater) and their impact on development of the site.
- Contours of the site and their favourability for development of the site.
- Constraints such as demolition control.
- Presences of asbestos in the dwelling.
- Development feasibilities to support a valuation.
- Factors in favour of development (such as increased density or height being permissible on the site).
- Dimensions of the site and suitability for development.
- Distinguishing sales that are not appropriate comparisons.
- Any local plans applicable to the property.
- Any proposed local plans but not yet in force.
- Planned infrastructure that will have an impact on property values in the area.
Due to the very low fees that banks pay for valuations, valuers are restricted in the amount of time they can spend on each individual valuation. We have no such restrictions. We can spend as long as it takes to uncover every last piece of information that will help to cast your property in the most favourable light possible.
Consider this: If you are trying to achieve a valuation of $500,000 for your property and the valuer takes the view that the property is worth only 5% less, then your valuation will be $475,000. That may be enough to crash your contract, or result in thousands of extra dollars in mortgage insurance, or $25,000 less equity that you have available to refinance. Our reports are designed to minimise the chances of this happening to you.
Who Can Benefit From This Service?
This service is a necessity for anyone buying a property or refinancing a property.
House = $999
Block of flats = $1,999
Development site = $2,999