Maximising Your Property Valuation?
In today’s Bank or finance institution environment, obtaining the best valuation on either the property you are selling or buying can be a major positive in getting a positive and fast settlement. The deal breakers or deal makers, can be the Licensed Valuers! My experience is that they are all very professional and have access to some incredible data which they utilise to arrive at the valuation number. I’ve always wondered what’s the best strategy for optimised the valuation. When I meet valuers at a Vendors premises I usually advise them of any value added features of the house that might increase the valuation e.g. Ducted air or a 5kw Solar System that isn’t obvious, but is a strong value added feature. (cost saving as well) I certainly don’t try to ‘sell them’ because from experience, many people try this and being professionals, they don’t want people trying to obviously ‘pump up’ the valuation, and they don’t have the time. It can be even more beneficial if the Vendor is in attendance as they know their property far more intimately than me. Also, if the valuer has
any questions, who better to answer those questions than the vendor. I always check on the Valuers property specifications, size, rooms, split living, media room, office, garaging numbers, even buggy parks, because sometimes the valuers are provided with incorrect information and not taking into account all data can reduce the valuation. I like to provide any hard evidence that I have in my possession to the valuer and this seems to be helpful to them when they are writing up the valuation. Licensed Valuers have a difficult task if they are to achieve the dual objectives of a responsible valuation for the bank, without being so conservative that the buyers can’t get finance. I find that selecting the appropriate lender right up front and using a very skilled broker to do so, is key to achieving a positive and fast settlement. I hope that this information is of assistance to anyone purchasing a property.
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