Property valuation

Discussion in 'Loans & Mortgage Brokers' started by CCPerth, 24th Apr, 2018.

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

    CCPerth Member

    Joined:
    15th Jul, 2016
    Posts:
    6
    Location:
    WA
    Hi guys, I’ve held my 1st investment property for just over 12 months now and am trying to find the best way to determine its value now. Who are the best people to ask about a property report, for example online, or should I ask a local real estate agent to value the property? Any help or advice would be greatly appreciated.

    Cheers
     
    CCPerth, 24th Apr, 2018
    #1
  2. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

    Joined:
    31st May, 2016
    Posts:
    2,738
    Location:
    Australia
    @CCPerth

    What is the context behind this?

    You can look at comparable sales on realestate.com.au or alternatively, have your broker run a property report.
     
    Property Twins, 24th Apr, 2018
    #2
  3. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,980
    Location:
    Canberra, Brisbane and Sunshine Coast
    The most accurate way is via an actual valuer. Depending on which lender you're with - you might be able to have your banker/broker order one for you.

    Otherwise - a desktop report will give you a decent idea. If your broker/banker can't provide one - I'm sure any of us brokers on PC would be happy to email you one.

    Cheers

    Jamie
     
    Jamie Moore, 24th Apr, 2018
    #3
    Brady likes this.
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,686
    Location:
    Gold Coast (Australia Wide)
    As the twins suggested, context or use of the val will determine whats suitable, as does LVR

    if you lvr is below 80 % and the purpose is to "go again" and pull equity for another purchase, a valuer shop via a few lenders is a viable option - typically better via the one broker....... but some prefer DYI

    ta

    rolf
     
    Rolf Latham, 24th Apr, 2018
    #4
  5. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,688
    Location:
    Perth WA + Buderim Qld
    Are you just after an estimate or have you done Reno’s or similar? Are you hoping to get cash out?

    The purpose will determine the best course of action :)
     
    Jess Peletier, 1st May, 2018
    #5
  6. New Town

    New Town Well-Known Member

    Joined:
    8th Sep, 2015
    Posts:
    747
    Location:
    QLD & NSW
    Take your purchase price and increase it by the suburb's annual increase. Quick, easy and probably the same result as a valuer using advanced software :)
     
    New Town, 1st May, 2018
    #6
Investment properties sent straight to your inbox