Browse Forums Home Finance Re: Low valuation on new build 2Oct 31, 2012 8:36 am Building Henley Monaco Nouveau Q1 - Mernda Villages https://forum.homeone.com.au/viewtopic.php?f=31&t=57810 http://razbuild.blogspot.com.au/ Re: Low valuation - what to do? 5Oct 31, 2012 5:09 pm Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au Re: Low valuation - what to do? 6Oct 31, 2012 7:25 pm Building Henley Monaco Nouveau Q1 - Mernda Villages https://forum.homeone.com.au/viewtopic.php?f=31&t=57810 http://razbuild.blogspot.com.au/ Re: Low valuation - what to do? 7Oct 31, 2012 8:40 pm My build thread: viewtopic.php?f=31&t=65324&p=1032514#p1032514 Re: Low valuation - what to do? 8Oct 31, 2012 10:37 pm Forrester 43sq We have our keys (3/6/11) Now it's time to decorate (that's the fun part.lol) https://forum.homeone.com.au/viewtopic.php?f=31&t=37598 Re: Low valuation - what to do? 10Nov 04, 2012 2:12 pm 01/10/12 - Pre-Approved 14/10/12 - Signed O&A 16/10/12 - O&A Accepted 23/10/12 - Conditional Approval 09/11/12 - Unconditional Approval 23/11/12 - Titles issued Visit our Blog! Re: Low valuation - what to do? 11Nov 07, 2012 4:55 pm My build thread: viewtopic.php?f=31&t=65324&p=1032514#p1032514 Re: Low valuation - what to do? 12Dec 04, 2012 12:07 pm banks seem to be under valuation homes alot latelly.we recently had our home revalued to get a top up loan through cba we had in valued before buy them just after handover from the builder some 3 years ago valued $400,000 nothing done to in not even painted inside and was suprise this year in may to have it revalued at and find the valuation still the same $400,000 even thought we had added a pool,8 car garage and lots of landscaping etc and many other things. finished building 40 square home on 5 acres with perry homes.working on the landscaping just finished pool deck with ://forum.homeone.com.au/viewtopic.php?f=31&t=2217 Re: Low valuation - what to do? 13Dec 06, 2012 11:50 am Ours came in yesterday $74k under construction cost + land yesterday. Upon reading the valuation the valuer has included properties that are located nearly 7km away from our build location, they ignored a house that is only 700m away from our build that sold for more than our house + land... Also the valuation has evaporative cooling, we have reverse cycle + gas. Tiled roof, when we have colorbond. It is also missing our study and one of the powder rooms. Needless to say we are contesting with submission of 2 properties that sold for more than our build price and 2 others in the ball park range. - what a joke and waste of our and our brokers time. Re: Low valuation - what to do? 14Dec 10, 2012 10:16 am I hope your contesting of the submission works Zerosignal cause we had no luck when we did that. The bank told us straight up that it would be pretty useless as the valuers never change their valuation and they were right, they weren't prepared to budge even when we gave them a list of about a dozen places that were higher. We're currently waiting for the new bank to tell us if we have formal approval or not. They are taking ages to do everything but I've read on here that it is pretty normal for them. Good luck with it all! Zerosignal Ours came in yesterday $74k under construction cost + land yesterday. Upon reading the valuation the valuer has included properties that are located nearly 7km away from our build location, they ignored a house that is only 700m away from our build that sold for more than our house + land... Also the valuation has evaporative cooling, we have reverse cycle + gas. Tiled roof, when we have colorbond. It is also missing our study and one of the powder rooms. Needless to say we are contesting with submission of 2 properties that sold for more than our build price and 2 others in the ball park range. - what a joke and waste of our and our brokers time. My build thread: viewtopic.php?f=31&t=65324&p=1032514#p1032514 Re: Low valuation - what to do? 15Dec 10, 2012 10:25 am Zalira I hope your contesting of the submission works Zerosignal cause we had no luck when we did that. The bank told us straight up that it would be pretty useless as the valuers never change their valuation and they were right, they weren't prepared to budge even when we gave them a list of about a dozen places that were higher. We're currently waiting for the new bank to tell us if we have formal approval or not. They are taking ages to do everything but I've read on here that it is pretty normal for them. Good luck with it all! Zerosignal Ours came in yesterday $74k under construction cost + land yesterday. Upon reading the valuation the valuer has included properties that are located nearly 7km away from our build location, they ignored a house that is only 700m away from our build that sold for more than our house + land... Also the valuation has evaporative cooling, we have reverse cycle + gas. Tiled roof, when we have colorbond. It is also missing our study and one of the powder rooms. Needless to say we are contesting with submission of 2 properties that sold for more than our build price and 2 others in the ball park range. - what a joke and waste of our and our brokers time. We actually got our valuation in this morning and the valuers have bumped it up $30k in our case their valuation was really wrong - picking properties from two suburbs over and an address that did not even exist! So now we do not need to pay lenders mortgage insurance. Fingers crossed for your new valuation. Re: Low valuation - what to do? 16Dec 10, 2012 4:20 pm That is fantastic! Congratulations!! We got a valuation for the full amount from another bank.. but it is just a shame that they're taking so long to do full approval. Best of luck with your build Zerosignal Zalira I hope your contesting of the submission works Zerosignal cause we had no luck when we did that. The bank told us straight up that it would be pretty useless as the valuers never change their valuation and they were right, they weren't prepared to budge even when we gave them a list of about a dozen places that were higher. We're currently waiting for the new bank to tell us if we have formal approval or not. They are taking ages to do everything but I've read on here that it is pretty normal for them. Good luck with it all! Zerosignal Ours came in yesterday $74k under construction cost + land yesterday. Upon reading the valuation the valuer has included properties that are located nearly 7km away from our build location, they ignored a house that is only 700m away from our build that sold for more than our house + land... Also the valuation has evaporative cooling, we have reverse cycle + gas. Tiled roof, when we have colorbond. It is also missing our study and one of the powder rooms. Needless to say we are contesting with submission of 2 properties that sold for more than our build price and 2 others in the ball park range. - what a joke and waste of our and our brokers time. We actually got our valuation in this morning and the valuers have bumped it up $30k in our case their valuation was really wrong - picking properties from two suburbs over and an address that did not even exist! So now we do not need to pay lenders mortgage insurance. Fingers crossed for your new valuation. My build thread: viewtopic.php?f=31&t=65324&p=1032514#p1032514 Re: Low valuation - what to do? 17Dec 12, 2012 3:51 pm YAY!!! We just got informed that we have formal approval! Now I can get excited about the house again! My build thread: viewtopic.php?f=31&t=65324&p=1032514#p1032514 Re: Low valuation - what to do? 18Dec 12, 2012 4:05 pm Congratulations. How exciting.. hopefully it will be smooth sailing from here. Building Henley Monaco Nouveau Q1 - Mernda Villages https://forum.homeone.com.au/viewtopic.php?f=31&t=57810 http://razbuild.blogspot.com.au/ Re: Low valuation - what to do? 19Feb 12, 2013 11:42 am yvette72 banks seem to be under valuation homes alot latelly.we recently had our home revalued to get a top up loan through cba we had in valued before buy them just after handover from the builder some 3 years ago valued $400,000 nothing done to in not even painted inside and was suprise this year in may to have it revalued at and find the valuation still the same $400,000 even thought we had added a pool,8 car garage and lots of landscaping etc and many other things. SO we are thinking about putting in an offer on a block of land in Geelong this week. But after reading posts about low valuations we are a bit worried that the price we are paying for the block may be on the higher side.Is there any way where we could compare the prices. it is a small block of land in the 460sq.m range and we will be paying in the 160k+ range. Any thoughts appreciated. Re: Low valuation - what to do? 20Feb 12, 2013 11:47 am You can get the bank to order the valuation, before proceeding. Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au 4 6453 If you can calculate the reasonable charged head from let's say 100mm below the gutter to the top of where the vertical riser's horizontal discharge pipe will be, that… 11 17953 Those span tables can be pushed a little for a low deck if you dont mind a little flex. Last deck I did, I pushed it a little and it was still rock solid - no noticeable… 6 14495 |