Unlocking Value: How AI Legalese Decoder Can Help Navigate Valuation Above the RV
- November 11, 2023
- Posted by: legaleseblogger
- Category: Related News
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CHALLENGES IN PURCHASING A NEW HOME AND SEEKING INPUT
I. Seeking a New Home Purchase
– My interest in purchasing a new modern house.
II. Pricing Details
– The agent’s asking price ranging from $2-2.2m.
– RV indicating a value of $2.2m.
– Independent valuer appointed by the bank has valued it at $2.3m.
III. Concerns of Accidentally Revealing Higher Valuation
– Accidentally disclosing the higher valuation to the agent.
– Feeling caught off guard and confused by the higher valuation in the current market.
IV. Seeking Input and Guidance
– Uncertainty regarding the impact of inadvertently revealing the higher valuation to the agent.
– Seeking input and advice on the situation to understand our standing and potential implications.
V. How AI Legalese Decoder Can Help
– Assisting in understanding the legal and financial implications of inadvertently disclosing the higher valuation to the agent.
– Providing insights into potential negotiation strategies and courses of action to navigate the situation.
– Offering guidance on how to proceed to ensure a favorable outcome in the home purchasing process.
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****** just grabbed a
The value is what someone is willing to pay and someone is willing to sell at.
The valuation is an estimate to determine what you can borrow, the two are not the same.
If you see the value at at $2m offer $2m.
Yeah I think thereÔÇÖs market value and intrinsic value. This was discussed a bit earlier on the Homes thread.
REAs often know fuck all. A good one is rare as hens teeth. Secondly, telling them the value was higher still doesnÔÇÖt mean someone will pay that.
Just pitch the offer you are happy with.
RV is an estimate of what a house would sell for in a point in time in the past. So it depends which jurisdiction you’re in. If the RV is recent it will be closer, if it’s older there can be a higher % deviation
But also, just offer what you can afford and what you would be happy to purchase the house for. In the long term, sometimes not getting a house is good (you’ll end up getting “the right one” later)
Just offer what you think the house is worth to u,
If seller wants to sell bad enough they’ll come to the party
Plenty of houses on ssle atm, with ur budget it’s like swimming in ocean
A property in Mt Eden recently sold in auction at 1.5m while the RV is 2.6m, even RV in 2017 already 1.775m.
The bank just value the property for their lending purpose and they heavily depend on third party like QV or else for it.
However if you in the buyer position, the final price would be from you after considering all aspects and the willingness to buy
Hey op, does not matter what the valuation says.
If all you can do is a measly 1.9 million cash offer with next week settlement and no other conditions, then so be it.
At the end of the day you can only put up what you are happy to pay for and if itÔÇÖs under the different valuation then thatÔÇÖs no oneÔÇÖs problem. The vendor can decide to take it or leave it.
Depending on where you are talking about, some RV are from 2021.
Also some house which did not sell for a long time could have an undervalued RV as there would not take into account any renovation/improvements done on the house unless the council knows about it.
If they add a room or renovate the kitchen and bathrooms then that would push the value in different ways.
For a purchase at this amount I’m assuming you’ve owned a few houses previously to have a feel for the game?
No. FHB. Without meaning to sound boastful (and IÔÇÖm sorry if I come across this way) but weÔÇÖre high earners and have forever rented below our budget.