Most accurate free property valuation report

Hi

I'm looking for the most accurate free property valuation report that would mirror a bank desktop valuation.

Any help appreciated as in a hot market (Brisbane) I'm thinking many desktop valuations are coming in well below contract price.

Thank you

 

Domain desktop valuation, onthehouse etc normally all pretty close using midpoints.
Also if you have a good bank relations they normally provide a detailed property report if you give them the address (ANZ does this for free if on a professional package)

 

Just to add. An ANZ property profile report has come in 10% lower than what I was expecting.
Are these bank valuation reports the most accurate?

Thanks

 

Thanks. The ANZ one is free but doesn't list most recent sale prices.

 

The ones that I use are (in no particular order):

Dartboard
Random number generator
Taxi driver
Uber
Hairdresser
Dog groomer

I have found these much more informed than the random matrix used by the free sites.

 

Ask a buyer. They always tell you what your place is worth.

 

But not what they're willing to pay for it.

 

You're looking for a desktop valuation that will pre-predict the purchase price. That's not possible (if it does, it's just luck).

The consumer desktop valuations (free or otherwise) represent the best estimate of a database. It's basically a guess.

The desktop valuations performed by the bank during the purchase process have an additional datapoint, which is the actual purchase price. Given that the true value of anything is what two people are willing to exchange it for, this type of valuation is really a confirmation to ensure the purchase price is reasonable and within the banks risk parameters.

For refinances, the comsumer reports give the same opinion in a generic manner. The banks desktop report allows individual lenders to give different parameters which they base on their own risk factors. For example they may want to be more conservative in a particular location as they have a lot of existing loans there and feel they're over exposed.

I can show you a thousand examples of an Corelogic RP Data report that is different from the banks desktop valuation using Corelogic. I've got plenty of examples using other platforms as well. There is no 'best' platform for price predictions.

I can also give you plenty of reasons why a desktop valuation won't relect the end purchase price. A good one would be that the data used in desktop valuations is several months out of date.

If you want to figure out the purchase price of a property, treat desktop valuations as a useful tool to supliment your own research. You need to know the market you're buying into, there's no magic tool that will do it for you.

 

Doesn't exist

What are you trying to determine?
ie. is this for a sales price or to extract equity or something else?

 

The only way I know is have long-standing relationships with a few RE Agents that have worked in the small area's for over 25 years..
But just from what I've seen to give you example is..
Talking to the agent principal of the agency that one of the daughters bought late last year this morning .
The Lady was saying that three property sales that all fell.over due to valuations in the last month..
Another one that an offer by the daughter made was over run with cash unconditional offers,as that one was to settle 2 days ago ..
I know for a fact that the purchaser put 150k deposit on that property and they were unable too settle and their 150k now on the BBQ plate..
Be careful..

 

Pay total cash - then you don't have any problem. **** the bank!

 

Amp have a free version which gives you the exact same data as propertyvalue.com

 

I think the problem is some people who go in blind ,then look for someone to blame--don't understand what a unconditional wiwo contract is till 24 hours before settlement and by then it's too late..
With **** the banks ,the only way is become a shareholder through boom bust then boom again ..

 

It's still not exactly the same as their desktop valuations though, none are.

 

OR Use the banks money, keeps your cash in the offset, that still ****s the bank and you have cash should you need it

 

Well, not so sure about that genuine buyers will tell u. Might not be what you want to hear.