Join our investing community

Valuation

Discussion in 'Real Estate' started by jrc77, 5th Mar, 2009.

  1. jrc77

    jrc77 Well-Known Member

    Joined:
    26th May, 2008
    Posts:
    147
    I need to get a valuation done on my place and am looking for a low cost certified valuer ... anyone got any recommendations? Am in Sydney metro area.

    Regards,

    Jason
     
  2. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Hi Jason

    Try Herron Todd White- used them before with no problems. Big firm with over 500 valuers Oz wide.
    Best of luck
     
  3. jrc77

    jrc77 Well-Known Member

    Joined:
    26th May, 2008
    Posts:
    147
    Jacque,

    Thanks for the response - I tried them but their quote ($495) was quite a bit higher than some others. For future reference (if anyone comes across this thread), I have ended up paying $220. This is on a place worth approx $475k. The prices I found ranged from $220 to $500 for a certified valuation for submission to OSR.

    Regards,

    Jason
     
  4. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney

    Great price Jason! So do you mind sharing the details of the valuer?
    How did you find them?
     
  5. jrc77

    jrc77 Well-Known Member

    Joined:
    26th May, 2008
    Posts:
    147
    Am using Addisons - "http://www.addval.com.au". I found them through the wonders of Google :)
     
  6. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    jrc77
    good find, I don't think there is a cheaper 1 :)
    cheers
     
  7. jrc77

    jrc77 Well-Known Member

    Joined:
    26th May, 2008
    Posts:
    147
    It was a very pleasant experience with them as well - I rang up on Thursday afternoon, they inspected 9am on Friday and I had soft copy of the report at lunch time on Friday. Hardcopy is in the mail.

    Not happy with the valuation price - but I don't think I can blame them for market conditions :)

    Regards,

    Jason
     
    Last edited by a moderator: 7th Mar, 2009
  8. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Jason
    What did you want the valuation for?
    maybe you should try for another 1?
    My brother had to pay for 3 valuations when he was transfering a property to his kids
     
  9. jrc77

    jrc77 Well-Known Member

    Joined:
    26th May, 2008
    Posts:
    147
    It's for a related party transfer. I was dissappointed with the value but it doesn't affect the transaction at all.

    Regards,

    Jason
     
  10. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Well that's ok then Jason. Glad you got good value for money. I'll add them to my list :)

    I remember one valuation that I disputed several yrs ago now, when it came in lower than anticipated (and I needed it higher). When I read the entire report there were glowing anomalies and non-comparable sales quoted which I was able to back up with more recent and better sales- worked in my favour, and the valuer rang up, apologised, and re-did the valuation for me at a much more acceptable figure. They are currently being very cautious, and rightly so in such unpredictable times.
     
  11. try anything once

    try anything once Well-Known Member

    Joined:
    8th Oct, 2008
    Posts:
    117
    Location:
    melb
    If the figure provided in the valuation makes any impact from a tax perspective, then it is probably bets to get at least 3 valuations and choose the "best" one. Even at $500 each the fees would normally be dwarfed by the potential tax savings (in my experience).