Does it make a difference between bank vs real estate doing it?
Registered User
Does it make a difference between bank vs real estate doing it?
Registered User
Definitely! Real estate agent wants your business so will talk up the potential selling price. Bank wants to lower their risk in a worst case scenario so will be much more conservative incase they ever need to sell.
Registered User
IME, the bank valuation will generally come in at whatever you tell them it is worth. Have done so four times with the same result. I highly doubt they did a thing apart from a quick search on rp data and current sales! On the latest one, I don't think they even did that because based on our research, the bank overvalued our place by about $40K-$50K.
Registered User
Thanks everyone, sounds like a broad range of experiences! Think I'll just play it safe and have a good clean out (which I have been wanting to do for ages) and if I have time I'll fix a few minor things.
Do you think they would be interested in the plans we have drawn up for a 2nd story extension? We're not continuing on with the renovation but the plans are all ready to go for a prospective buyer.
Registered User
If the plans are council approved, then yes, I would show him.
We just had a bank valuation and they were very thorough, noting the condition of the floor coverings and cabinetry.
I would def have it looking clean and tidy, general impressions are really important.
Good luck
Reply With Quote
Bookmarks