Mortgage security property valuations are generally considered the most litigious of all types of property valuations we complete. This is due to the client we represent (aka the lender), their client (aka the borrower) and the many factors that can put a property valuation in Brisbane under the microscope.
There are many types of lenders that carry different types of risk profiles, such as, top tier banks (eg. CBA, NAB, Westpac and ANZ), second tier lenders (Suncorp, BoQ. BankWest etc) and third tier lenders (Lawyers, superannuation funds etc).
Property valuers are also required to carry the appropriate Professional Indemnity Insurance to offer property valuations for Mortgage Security purposes, which average $15,000 per annum per valuer. This coupled with the low fees banks pay, short turnaround times (resulting in a poor quality property valuation report), and their litigious nature (when a borrower defaults or the property market declines) we have decided not to offer these types of property valuations.
If you are unhappy with a property valuation provided by a bank, which is common, we do offer a service whereby you can organise a property valuation for Internal Accounting purposes that you can present to the bank in support of a value you consider more appropriate for your property.
Please don’t hesitate to be in touch should you wish to discuss any of your property valuation Brisbane report requirements via phone on (07) 3077 9695 or by completing the contact form.