Rental Appraisal Halp Please....

Discussion in 'Property Management' started by EN710, 12th Jul, 2016.

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  1. EN710

    EN710 Well-Known Member

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    Hi PCers...

    I need help with rental appraisal for house + land build in Tarneit/ Truganina, mainly due to loan application requirements.

    Anyone can help point me to a PM or even help with the written appraisal?

    I have contacted a couple local agents through their website thought not sure if any will bother to respond.
     
    EN710, 12th Jul, 2016
    #1
  2. Simon Moore

    Simon Moore Residential & Commercial Mortgage Broker Business Member

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    The bank will take the rental estimate from the valuation report. Have you put in an application to the bank yet?
     
    Simon Moore, 12th Jul, 2016
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  3. EN710

    EN710 Well-Known Member

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    We have done the valuation and currently looking to put the application in. Rental appraisal somehow is part of the application docs needed
     
    EN710, 12th Jul, 2016
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  4. D.T.

    D.T. Specialist Property Manager Business Member

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    I'm happy to write it up - not sure if the bank will mind if there's an SA agency on it though?
     
    D.T., 12th Jul, 2016
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  5. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Agree with Simon - they'll go off the anticipated rental from the valuation.

    Do you have a copy of the val? Did they provide a rental estimate?

    Cheers

    Jamie
     
    Jamie Moore, 12th Jul, 2016
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  6. Simon Moore

    Simon Moore Residential & Commercial Mortgage Broker Business Member

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    If the bank did the valuation they should have a copy of the report? Which bank is it?
     
    Simon Moore, 12th Jul, 2016
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  7. EN710

    EN710 Well-Known Member

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    Mr NAB.... Just checked the valuation doc and rental is blank :confused:
     
    EN710, 12th Jul, 2016
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  8. Simon Moore

    Simon Moore Residential & Commercial Mortgage Broker Business Member

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    Well someone may have screwed up, call up your broker/NAB tomorrow and find out what's happened. Are you relying on rent for servicing?
     
    Simon Moore, 12th Jul, 2016
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  9. EN710

    EN710 Well-Known Member

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    I was just got an email back that valuation does not contain rental appraisal and the bank need this. I am not quite sure why this is now fall on me to do, let's hope one of the company I contacted will come back with something :confused:
     
    EN710, 13th Jul, 2016
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  10. Simon Moore

    Simon Moore Residential & Commercial Mortgage Broker Business Member

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    By the sounds of things you have gone directly to NAB? A quick phone call to the person your dealing with should sort this out.

    Getting a real estate agents appraisal will not be accepted by NAB. They need a valuation with rental estimate, they will organize this for you.
     
    Simon Moore, 13th Jul, 2016
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  11. EN710

    EN710 Well-Known Member

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    Hi Simon,

    No, I am with a broker and that is basically what the respond I get from them. Upfront valuation have been completed from NAB, with land+build value but no rental estimate (I have doe copy of the doc) o_O
     
    EN710, 13th Jul, 2016
    #11
  12. Simon Moore

    Simon Moore Residential & Commercial Mortgage Broker Business Member

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    In that case, your broker (I hope it's not one of the people on the forum!) needs to call NAB and get them to chase up the valuer to complete the rental estimate section.
     
    Simon Moore, 13th Jul, 2016
    #12
  13. EN710

    EN710 Well-Known Member

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    The reply "NAB does not supply the rental appraisal with any of its valuations – no other options available."
    :confused:
    Argh! I will see if my land agent or builder have any data ready
     
    EN710, 13th Jul, 2016
    #13
  14. Simon Moore

    Simon Moore Residential & Commercial Mortgage Broker Business Member

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    Well you have me stumped! I have never seen a valuation without a rental estimate.

    Did he say how NAB want you to get a rental appraisal?
     
    Simon Moore, 13th Jul, 2016
    #14
  15. Simon Moore

    Simon Moore Residential & Commercial Mortgage Broker Business Member

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    upload_2016-7-13_10-47-24.png

    This is what I received from a valuation that came in this morning from ANZ
     
    Simon Moore, 13th Jul, 2016
    #15
  16. EN710

    EN710 Well-Known Member

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    Agent appraisal pretty much. The rental val is blank - I wonder if this is because it's Land + build

    upload_2016-7-13_11-28-47.png
     
    EN710, 13th Jul, 2016
    #16
  17. Lil Skater

    Lil Skater Well-Known Member

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    @EN710 do you still need help? If so, more than happy to.
     
    Lil Skater, 13th Jul, 2016
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  18. EN710

    EN710 Well-Known Member

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    Yes please!! I will PM you @Lil Skater
     
    EN710, 13th Jul, 2016
    #18
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  19. Simon Moore

    Simon Moore Residential & Commercial Mortgage Broker Business Member

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    Simon Moore, 14th Jul, 2016
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    EN710 likes this.
  20. Lil Skater

    Lil Skater Well-Known Member

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    Sent off this morning, hopefully it keeps them happy :)
     
    Lil Skater, 14th Jul, 2016
    #20
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