Getting valuation for LVR assessment- any tips?

[Rowlocks]

Hi,
I'm getting the house valued for the Loan Value Ratio assessment, (to remove my low equity premium).
Naturally I would like the highest valuation... any tips?
Are the valuers affected much by minor things like - messy lawn, untidy letterbox, paint could do with a waterblast?

Thanks,
CC

[KyronGosse]

tell the valuer why you need it, and tellg them you need it as high as possible.
obviously they wont lie, but it can make a minor difference in them rounding up a few thousand

[BigRedDog]

Even half decent views help.

So if you have trees or scrubs blocking some views... cut them back.

[Nice]

The valuer is theoretically affected by all the same issues as the buyer. All of the things you mention will make it look better, therefore easier to sell, and maybe worth more. Do them all and more, providing they don't cost the earth !

[NovInvestor]

Hi,
I'm getting the house valued for the Loan Value Ratio assessment, (to remove my low equity premium).
Naturally I would like the highest valuation... any tips?
Are the valuers affected much by minor things like - messy lawn, untidy letterbox, paint could do with a waterblast?

Thanks,
CC

I suggest you get a valuer that friends or other investors recommend, and before you order a valuation, tell the valuer what you think it's worth(higher value than you would accept), and see what happens.

If you give a lower value, sometimes the valuer will just use that, even though he could perhaps push for a higher value.

[DaveW]

Like NovInvestor said.. talk to the valuer, and I would also add.. talk to a couple more and you will soon know who to use.

[Rowlocks]

Hi, thanks for the tips.
I'll do that.
Can you recommend any valuers for the Mangere area?

[DaveW]

Hi, thanks for the tips.
I'll do that.
Can you recommend any valuers for the Mangere area?

Ask local real estate agents.

[Dugster]

I've just had one done. The only thing I'm uncertain about is the report says in it "...we consider the property offers satisfactory security for a loan on first mortgage for an amount upto $280000. This represents 70% of our valuation excluding chattels".

Is it usual to use 70% in these mortgage recommendations or is it a sign of uncertainty etc? It already holds a mortgage of more than $280000. I was hoping to secure up to $340K against it, eg. upto 85%. Will the above statement deter the bank from this? Earlier in the report it states the market value is $400000.

Cheers

[DaveW]

Is it usual to use 70% in these mortgage recommendations or is it a sign of uncertainty etc? It already holds a mortgage of more than $280000. I was hoping to secure up to $340K against it, eg. upto 85%. Will the above statement deter the bank from this? Earlier in the report it states the market value is $400000.

Cheers

Yes that is usual, it looks like you got what you wanted there.

[Dugster]

Ok, so generally the banks will lend to higher than the 70% stated? If so then I did get what I wanted yes!

Thanks DaveW. Allt the best