Valuers or sith lords

Discussion in 'Loans & Mortgage Brokers' started by sammmeee, 8th Aug, 2015.

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  1. Johann_

    Johann_ Well-Known Member

    Joined:
    1st Jun, 2017
    Posts:
    374
    Location:
    Melbourne
    Hi
    Valuations for refinance vs contract of sale are two different things.
    1) When you buy a property, valuers will usually go off the contract of sale.
    2) When refinancing - Different ball game all together.

    The only time when I have see valuations come in higher is when a client of mine bought a property OTP. Two years later when the property was built it got valued higher.

    Cheers
    JP
     
    Johann_, 10th Aug, 2015
    #21
  2. sammmeee

    sammmeee Well-Known Member

    Joined:
    16th Jul, 2015
    Posts:
    72
    Location:
    perth
    this is a case of number 1..have been spoilt when I did get a contract val higher..
     
    sammmeee, 10th Aug, 2015
    #22
  3. Johann_

    Johann_ Well-Known Member

    Joined:
    1st Jun, 2017
    Posts:
    374
    Location:
    Melbourne
    Well done how long ago was this?
     
    Johann_, 10th Aug, 2015
    #23
  4. sammmeee

    sammmeee Well-Known Member

    Joined:
    16th Jul, 2015
    Posts:
    72
    Location:
    perth
    It was may 2011 market was very low then. Was valued 10% higher. But obviously the bank takes the contract price but was good for me to know that we had a paper profit for doing nothing...
     
    sammmeee, 10th Aug, 2015
    #24
  5. Phantom

    Phantom Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    2,054
    Location:
    Sydney
    'Hmm. ...yes...valuations I do...hmm. ...help from the force I use....' (in a Yoda voice)
     
    Phantom, 13th Aug, 2015
    #25
    bonanzawealth and sammmeee like this.
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