Valuations ACT do not offer pre mortgage security valuations however we can offer current market valuations so you know what your property is worth.
What is the difference between a pre mortgage security valuation and a current market valuation?
A pre mortgage security valuation is a valuation that is completed before a lender will give final mortgage approval. Lenders require a pre mortgage security valuation so they can confirm that there is security on the loan which means that in the event that the borrower defaulted on their loan. Normally the bank will appoint their own property valuer who will go and value the property. Bank valuers tend to provide conservative valuations because they are often working directly with the bank and want to protect their interests.
Therefore, it is best to get a current market property valuation. A current market valuation is based on the value of the property at the present point in time. The current market value refers to the price that you could reasonably get if you were to sell it on the open market. Market values tend to be higher because they take into consideration current market activity which includes recent sales and the current market conditions.
Whilst we do not offer pre mortgage security valuations we can offer current market valuations. When we conduct a current market valuation, we will consider all the factors that contribute to the final value of the property. That includes, but isn’t limited to:
The current market conditions;Interest rates;The area’s infrastructure;The size of the property including the number of bedrooms, bathrooms and internal rooms;Risks to the property such as the location, zoning, environmental issues such as being fire or flood prone;The area’s zoning;The aesthetics of the property.
Why choose Valuations ACT?
Valuations ACT has a brilliant reputation and has been in the property valuation industry for over 20 years so we have valued thousands of properties. Our vast experience means that we have built up knowledge over the years and can bring this knowledge to our property valuations.
We are members of the Australian Property Institute and support the API’s philosophy on future professional development. We’re always looking for new ways to improve our service to you and pride ourselves on our customer focus.
If you require a current market valuation because you’re in the process of finalising your mortgage then give us a call on (02) 6189 2232.