Has your bank undervalued?

Discussion in 'Loans & Mortgage Brokers' started by Jacque, 25th Feb, 2010.

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  1. Jacque

    Jacque Jacque Parker Premium Member

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    18th Jun, 2015
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    Location:
    Sydney
    I attended the annual REINSW sales conference yesterday and was on a panel with a well respected valuer, Colin Rooke, who does a lot of work in the Eastern suburbs of Sydney. He gave a presentation on how to use comparable sales when valuing, and it was quite informative and useful- especially in my line of work as a BA.

    One thing that stood out, however, was his comment on comparing properties with different quality inclusions eg: curtains, light fittings, carpets etc. His comment was that valuers don't take these items into consideration at all, as they are all items that can be physically removed by owners prior to selling (and he was mainly referring to Mortgagee in Possession sales) and so make no difference in valuation reports. I wasn't aware of this, and found it noteworthy as quite often dwellings can fetch higher prices, due to the quality of such inclusions. Food for thought, anyway.
     
    Jacque, 25th Feb, 2010
    #1