Desktop val

Discussion in 'Loans & Mortgage Brokers' started by Drgonzo, 11th Nov, 2016.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Drgonzo

    Drgonzo Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    237
    Location:
    Berry NSW
    anyone know where I can get a free desktop val on a recently constructed home (the address doesn't seem to come up on realestate or in the house). It is listed for rent on realestate.com.au
     
  2. albanga

    albanga Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    2,701
    Location:
    Melbourne
    Hit up a broker and they should be able to organize one for you.
    But what are you trying to achieve?
     
  3. Drgonzo

    Drgonzo Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    237
    Location:
    Berry NSW
    estimating whether or not to proceed with a top up for some completion work.
     
  4. Brady

    Brady Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,562
    Location:
    Adelaide, SA
    Stuggle with desktops on new properties - limited data.
     
  5. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,977
    Location:
    Canberra, Brisbane and Sunshine Coast
    Agreed - I don't think you'll have much luck.

    Might have to do some DIY research on comparative sales in the area - or if you want something more precise, see if your current lender provides free upfront valuations.

    Cheers

    Jamie
     
  6. Drgonzo

    Drgonzo Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    237
    Location:
    Berry NSW
    the area is reasonably well established the problem seems to be that the address isnt picking up
     
  7. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,116
    Location:
    03 9877 3000
    Let us know what the address is.
     
  8. Brady

    Brady Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,562
    Location:
    Adelaide, SA
    New property likely wont show on desktop - so wont be able to topup that way.

    If area is established look at comparable sales as @Jamie Moore suggest - would be your best bet to see what your property is worth.
     
  9. tobe

    tobe Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,814
    Location:
    Melbourne
    Desktops don't like new properties. Unless that property has been resold, there isn't enough data for the computer to pick up.

    You need a full val. brokers can get this organised for you, without a cost, but most valuers won't see any equity in new builds in new estates for at least 6-12 months after completion.
     
  10. Corey Batt

    Corey Batt Well-Known Member

    Joined:
    14th Jun, 2015
    Posts:
    2,091
    Location:
    Adelaide, SA
    Desktop/computer valuations generally will avoid new properties without an ongoing sale/data history - the systems do not have an accurate point of reference to build a basis of the value of the property.

    This can also extend to various property types and postcodes - it's not unusual for regional postcodes or some apartments, townhouses or units to not be eligible for desktop/computer valuations and require a full physical valuation.