Getting your properties valued

Discussion in 'The Buying & Selling Process' started by Scott Townsend, 30th Mar, 2017.

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  1. Scott Townsend

    Scott Townsend Well-Known Member

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    Hey PCers

    Jus had a thought this morning - How often do you get valuations on your properties/portfolio?

    Obviously when it comes time to purchase again, if attempting to draw equity from current property the lender/bank will do their valuation to see if they think it stacks up. These valuations are free which is great.

    Interested to know if people have a religious time frame that they get their portfolio valued e.g. every 6 months - 1 year - 2 years?

    Can these valuations be used to purchase or will the bank always do their own?

    Scott
     
  2. jins13

    jins13 Well-Known Member

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    For me, it's usually from my managing agent or through my window shopping on RealEstate appt which provides me a good indication of the current market and whether it's worth pursuing a val. If the saved properties are getting sold pretty fast and settled, than def I can use those as supporting evidence for the val.
     
  3. Scott No Mates

    Scott No Mates Well-Known Member

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    From a passive owner perspective 3-5 years but generally a20-30% of the portfolio annually to avoid a big spike in book values.
     
  4. Perthguy

    Perthguy Well-Known Member

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    Only when I get a new loan or refinance.
     
  5. Redom

    Redom Mortgage Broker Business Plus Member

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    Depends on your overall goals and stage in property investing - if in accumulation phase; best to keep track of the market and order as you start seeing a potential uplift in value.

    Usually doesn't make sense to do it for minor increases in value (10-30k), unless the additional funds there will tip you over the line for the next purchase. Need to balance the value of a minor equity release vs additional credit enquiries/admin burden.

    Simply, its not always about timeframe since last val or when you need the money, its largely about when its available.

    Will also partly depend on the lender your with and the LVR your at. If for example your at an 80% LVR with CBA, there's no harm in requesting desktop valuations every few months. Sometimes they come in unusually strong.

    E.g. in certain premium pockets of Sydney, we've seen 100k uplifts in value in 3 months. Full vals too, not unreliable hit and miss desktops.