Introducing Instant Online Home Appraisals

Want an idea of what your property might be worth?

FAQs

How does the appraisal widget work?
This widget is an Automated Valuation Model or AVM. An AVM is a service that uses mathematical modelling to value properties. This AVM software lets you find out the estimated value range of a property in a suburb. It also shows you some of the most recent property sales in the area. These sales may not be directly comparable, but because the system knows the history of the properties, they are part of how it calculates current price movements in the area.

Where does the information come from?
RP Data CoreLogic compiles and tracks every real estate transaction in Australia as they occur. It uses sophisticated algorithms to predict the likely selling price of the property based on what it knows about the area.

How accurate are the prices?
Fairly good. They are based on sales of similar local properties in a recent time scale. The price range returned will always state the degree of confidence the system has about the range it has given you.

What can't it tell me?
It doesn’t know if the property has had any renovations or extensions since it last sold. To refine the figures requires a physical inspection of the property by an experienced real estate professional. For a comprehensive evaluation, call (07) 5559 9600 to book an appraisal with one of our Gold Coast property experts.

What is the difference between a valuation and an appraisal?
An appraisal is an opinion on the price of your property, based on research performed by the agent that takes into consideration the age and condition of the property, the condition and value of included features, land value, and the value of recent sales for similar properties in the area. This service is usually provided free from most real estate agents.
 
Real estate agents are, however, not licensed to carry out a valuation. A formal valuation can only be conducted by a qualified valuer (usually appointed by your bank when assessing your finance application), who will charge around $400 - $500 for the service.

Click here to read our article on the difference between a valuation and an appraisal.

You may also be interested in;

• What Happens During a Home Appraisal?
• What is the Difference Between a Conditional and Unconditional Home Contract?
• What is a Cooling Off Period in QLD When Buying a Property?
• Quick Guide to Common Special Conditions in a Contract of Sale
• Common Mistakes To Avoid with your Finance Clause

by Nikki Tuarau