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Is challenging the property valuation right?

house valuation melbourne

Making mistakes is the sign of being human. We hire experts for the property valuations of our properties and in those cases it is pretty much expected to get accurate valuations. We hire certified practicing property valuers Melbourne for property valuation services. But every property valuer adapt the different approach to analyse and assess the property value. Which create the difference in valuation figures and sometimes it is difficult to say which one is right.

To take a loan from bank or money lender, banker or lender hire their own Property valuer who sometimes work biasedly to give favours to them. In such cases it becomes imperative to challenge the property valuation give by a property valuer hired by bank.

Many time people ask – Is it possible to challenge the valuation given by a property valuer? So the answer of this question is yes. You can challenge. There are certain mistakes made by the property valuers while evaluating the property value.

Here we are listing down what mistakes valuer’s can make –

  • Calculating incorrect land size or plot size of the property.
  • Error in counting the number of rooms and bathrooms.
  • Choosing desktop valuation or kerbside valuation methods which are not reliable or gives accurate results.
  • Not considering the places where improvements can bring major change.
  • When valuer doesn’t bother to do complete valuation.
  • Insufficient comparables and lack of accurate data.

These are the mistakes and lacking often committed by the property valuers while evaluating the property’s worth.

One can avoid these mistakes committed by bank’s property valuer by providing the accurate local sales data and information to the valuer. The current sales data and comparables play a vital role in evaluating the accurate value of the property. Overall its your profit if you help the valuer in assessing the right value of the property.

Even while inspecting the property you should ask property valuer for inside out complete inspection. Kerbside valuation and desktop valuation are not ideal way to find the value of the property. You can highlight the recent renovation made from your end in last few months while valuers is on inspection. You can also highlight the facilities you are offering, make sure not to annoy your valuer while working but help them to evaluate the right value. Thus its become easy to challenge the banker’s valuation and you get the right amount of money you need or seeking loan for.

Last but not least challenging the property valuation is not at all anyway different thing. You can challenge unless you are not sure with the property valuation done by bank’s valuer.

Melborne property valuations, smart property valuers help you in finding the right valuation figure of your property. Hire us to get the best property valuation services Melbourne. Our experts gives you reliable, accurate and right advice. As they have years of industry experience and having vast local market knowledge which helps you indeed.

Contact our experts they feel happy to assist you.