Oct 19, 2020 8:00 am
When it comes to buying land and getting quotes from your builder, does anyone here would enagage a certified practicing valuer (CPV) to do an ''as-if completed'' valuations, based on the quotes and concept design plan from the builders?
I received a quote from a local CPV for $500+GST. My land and build project budget is circa 500k, so it's like only spending 0.1% on it to gain more confidence on the value on as-if completed seems to be a good idea to me.
Have seen a lot of threads here about the lender comes back with a valuation short-fall and impact the loan amount
Has anyone actually ever received a valuation higher than your total land and build cost?
Re: Pre-purchase 'As-if completed' valuation2
Oct 19, 2020 9:11 am
hey shibaboy welcome to the forum
The days of higher valuations than your total land and build costs are long gone as the economy is in decline.
Anyway...You should be able to extrapolate the information from the internet
IMO the best way to do this is to
1.Own your own design and copyright
2.Use 3D Bim ( as Built) to extract data and apply realistic costs from the internet
3.Armed with 2 above negotiate with suppliers, trades and builders.
4. Ask 3 builders to sharpen their pencils when quoting... lol, don't lean on them too hard they need to survive in this tough environment
OT Most CPVs come from the commercial sector background which has been ironically decimated by online selling
Valuations for shopping centres and commercial have plummeted
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