In Queensland, the selling agent is not permitted to provide a price guide prior to auction, making purchasing a property a daunting task. In contrast, it is a mandatory requirement in Victoria for all properties listed for sale to include a Statement of Information (SOI), prepared by the real estate agent, which includes the indicative selling price and comparable property sales. However, are the sales selected entirely comparable; or, has the agent indicated there is a lack of comparable sales available to provide?
Further, in the current market, some real estate agents are increasingly marketing properties without a listing price which can be frustrating for buyers. This is where a qualified Property Valuer can assist with a Pre-Purchase valuation to help you navigate the uncertainties within the market and decipher the best comparable evidence available. An independent property valuer on your side provides peace of mind you are not paying too much, assists with decision making and, the valuation can be a powerful negotiating tool you can rely on.
We often hear, “The bank will do a valuation.” But it’s important to remember, when the bank is ordering a valuation, the valuation is for their mortgage purposes only. If there is a low LVR (loan to value ratio) the bank may approve finance relying on an AVM (Automated Valuation Model) or no valuation at all. The risk being that a valuer has not been engaged to validate if the contract price is in line with current market levels.
WBP Group can assist by providing cost-effective, Pre-Purchase property valuations to assist buyers in determining what is the current market value of the property.
At WBP, we have experience on our side. With over 150 qualified Property Valuers across our national network, all with local expertise and a thorough understanding of the property market in their local area, we can remove the guesswork and uncertainty, helping you buy with confidence. Our experienced Valuers pride themselves on professionally researched and accurate reporting, prepared by our highly trained network of property professionals, using the most up to date property and economic data.
Our Valuers are regularly inspecting multiple properties a day, many under contract and recently sold. We have our finger on the pulse in a moving market. We are in a unique position where we can provide our clients with the security and peace of mind required to make informed property decisions and avoid costly mistakes when purchasing property.
WBP Group can also assist with a Pre-Sale valuation.
A Pre-Sale valuation assists the vendor to establish a realistic price range for the sale of their property, allowing them to have an informed conversation when working with their selling agent, assist with estate planning or budgeting for their next purchase. If the property for sale is listed too high, there is real risk the property will go stale, sitting on the market too long and not selling at all.
WBP Group provide a wide range of valuation services, from Residential Desktop Assessments to extensive Commercial reports and everything in between.
WBP is trusted by government agencies, not-for-profits, major banks, professional businesses and private clients since its inception in 1992. WBP Group also complete valuations for SMSF audits, the Australian Taxation Office (ATO) for Capital Gains Tax, the State Revenue Office for calculating Stamp Duty for ‘related party transfers’, valuations for dispute resolution, litigation and family law, as well as portfolio reviews and feasibility studies.
WBP Group has offices in all major capitals around the country as well as many regional areas. We are well prepared to assist you today.
To get in touch, please call 1300 302 581 or email [email protected]
