Browse Forums Home Finance 1 Feb 25, 2013 7:37 pm Hi Guys, Has anyone experienced a valuer made a mistake valuing your house? The bank valuer came back to us today and said that the value of the house we want to build is $15k overvalued. I found that ridiculous because in comparison to other houses in the market (Canberra),the package that we got is quite cheap. Its about $1,350 per square meter. Im not sure whether Im allowed to hire an independent valuer because I think they have made some mistake.... Any advice is much appreciated! Thanks. Ibby Re: House valuation before construction 2Feb 25, 2013 8:20 pm Maybe all the other houses have also been deemed to be overvalued? As far as I'm aware, no you can't use another valuer. You *may* be able to talk to the valuer and have your say, may or may not help though. Typically you would have to make up the shortfall. Re: House valuation before construction 3Feb 26, 2013 1:08 am An independent valuer won't help you at all, the bank won't accept it. You can try and challenge the valuation, but would need some data to back you up, like comparable sales from the area for the last 3-6 months. Failing that if you're really in trouble, you could try with a different lender. Cheers Tom Re: House valuation before construction 4Feb 26, 2013 9:20 am We are going to try to challenge them and hopefully we will win. It's weird because the the bank believes that the value is reasonable but if the valuer said otherwise, they can't give us the loan. So annoying. Do you know which bank has a good valuer Thanks again. Re: House valuation before construction 5Feb 26, 2013 12:01 pm Banks have a few valuers on their panel which can be use, not just the one, so you might get a good one or vice versa. Cheers Tom Building a fence now will help limit people dumping rubbish and soil on your property. Many houses in suburbia on small lots have fences up before a build. I moved into a… 1 4396 I thought this would be a popular question but I haven't been able to find any similar posts. Perhaps I'm wording my searches wrong? When you have car insurance and the… 0 6615 The price you're seeing for a high-spec 2-storey home in Perth sounds steep, but unfortunately, it's kind of the norm these… 8 7896 |