Pre-Mortgage Security Property Valuation
Conducting valuations since 1997, Valuations NSW have a wealth of knowledge in property valuation and are registered property valuers whose head office is based in Sydney. Valuations NSW are independent property valuers offering detailed residential pre-mortgage property valuations. Our team of Valuers can value all types of residential property including:
Our property valuation reports are government registered property valuers that hold an Australian Property Institute (API) membership. Each of Valuations NSW Valuers adhere to the API’s Code of Professional Practice, Code of Ethics and Rules of Conduct. They regularly attend professional development training through the API.
What do the valuers consider when valuing a property?
Some of the factors that our property valuers consider when preparing a pre-mortgage valuation report include, but are not limited to:
Why should you get a pre-mortgage valuation?
When you’re buying a property, a bank or other lender will require that the property is valued before approving the mortgage. Bank valuers will always conservatively value a property because they want to know that their investment is secure and that they can recover the money lent to you if the property needs to be sold quickly.
If the valuation is low then the lender may refuse to lend you the amount you’re requesting for the property leaving you with three options:
- Being unable to proceed with the property purchase.
- Having to come up with the additional funds so that you can purchase the property.
- Needing to choose a different lender who will lend you a higher portion of the property value (LVR).
To avoid this situation you can get an independent valuation before you make an offer and seek finance. An independent valuation is an unbiased assessment of what a property could reasonably sell for and is based on extensive research of the property itself, the local area and recent comparable sales.
There are other situations where a property may be priced higher than you think it is worth. A pre-mortgage valuation can give you leverage when negotiating a lower price which could save you considerable money on LMI (Lenders Mortgage Insurance), especially if an independent valuation results in a lower LVR (Loan to Value Ratio).
Why choose Valuations NSW?
Valuations NSW do not have an interest in selling real estate and do not act on behalf of real estate agents. This means that when our Valuers complete a property valuation they do so impartially and without bias. Our Valuers always act with your best interests at the centre of their attention. Before completing valuations, our Valuers have gained more than 15 years of valuation experience and are fully trained. Valuations NSW only employs property valuers that are local to the area that they complete valuation reports in. This means they have access to current and historical property data and can therefore undertake a more accurate pre-mortgage valuation.
Valuations NSW Valuers will inspect your property within 48 hours of you making an enquiry and will then send your report within 3-5 business days of completing the inspection. We have built a strong reputation within the valuation industry and our valuations are accepted by all banks and lenders. To organise one of our expert pre-mortgage Valuers to come and inspect your property call our friendly team on (02) 8599 9863.