investment property valuation to apply for pension

Discussion in 'Loans & Mortgage Brokers' started by tilt10, 20th Oct, 2018.

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  1. tilt10

    tilt10 Well-Known Member

    Joined:
    1st Jan, 2016
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    143
    Location:
    QLD
    Who does the valuation on investment property when applying for pension?
    How is it assessed? Is it assessed at all or do you put valuation on it
    guided by previous sales?. Googled it but can't find any info.
     
    tilt10, 20th Oct, 2018
    #1
  2. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    This happened to my parents. In Melbourne the Valuer General overvalued their only IP and got them kicked off the part pension. They sold the property but the price did not reach the valuation even though they sold near the peak of the boom.

    Valuer-General Victoria - Land Use Victoria  | Victorian Government
     
    Perthguy, 20th Oct, 2018
    #2