Can Real Scout value my property for my bank?
WHY SHOULD REAL SCOUT PROVIDE ME WITH A VALUATION WHEN I HAVE ONE BY THE BANK VALUER?
Bank appointed valuers work for THE BANK, not you! You simply just pay for the service. Bank appointed valuers have to work within guidelines as outlined by their employers professional indemnity insurers.
The bank tells the valuer what to do, but the insurer tells the valuer HOW to do it. With every property being different, how can you rely on a seemingly independent professional to really quantify what your property is worth?
The valuer has one job, that is covering their backside from disapproval from their biggest customer, the BANKS.
Bank appointed valuers aren’t bad people. They work long hours in an underpaid job. They are victims of a system that will not change. But they should exercise caution. It’s possible however they could miss something small or not complete a report with the full information available to them. A slight detail could change the outcome of the report, and subsequently your loan approval.
It’s highly unlikely that you will ever get to see a copy of the report that a bank appointed valuer has completed. Between the red tape, and the quality assurance processes and the bank’s power, you never get to know if your bank valuer has included that extra bedroom in the report
or taken note of the $30,000 kitchen you recently installed. All the value added work for your house may well have gone down the drain!
Where is the value in the service we do for you?
We show you what the bank valuers should but DON'T. We have worked in the mortgage valuation profession, and we understand it. We provide you with a report that mentions all the seen and unseen features of your property. We thoroughly research your property and can provide you with the information you pay for but don’t get to see through a bank valuation.
What do I do with this information?
You can contest your bank’s report with our information! According to the bank’s credit policy they do not have to accept a valuation report from another valuer BUT they are obliged under their own customer service charter to listen when you complain. They have an obligation to not only read the valuation report, but take into consideration new evidence the report can provide.
What better way to have solid evidence than by another valuation report, by valuers who YOU choose and who YOU trust to get it right!