All Categories ​>​ ​Frequently asked questions ​ > ​ ​Applying for a home loan ​>​ How does Qantas Money assess the value of my property?

How does Qantas Money assess the value of my property?

There are three ways that we can value your property: Automated Valuation Model (AVM), desktop valuation, and full valuation.

An AVM occurs instantly during your application. However, if a more detailed valuation method is required, it will be at no cost to you and should not delay your application assessment by more than 3-4 business days.

What is an Automated Valuation Model (AVM)?

If our technology can identify your property, we'll do an AVM. This means we will value your property instantly by analysing values of comparable properties. We have integrated external providers, existing property and land databases as well as technology partners to generate a sound estimate of the value of your property.

What is a desktop valuation?

If we can't value your property instantly, we will need to complete a desktop valuation or full valuation. A desktop valuation is when an accredited valuer uses publicly available information such as tax records and comparable sales in the area to work out a property's value.

What is a full valuation?

A full valuation is when we arrange for an independent and qualified valuer to inspect your property and issue a report with the valuation. This may be required if:

  • you have less than 20% deposit;
  • the property is a high density apartment.

In a full valuation, the licensed appraiser visits the property, takes photographs and measurements, evaluates the location, features, selling points and overall condition of the property.

Was this information helpful?

Powered by HelpDocs (opens in a new tab)

Powered by HelpDocs (opens in a new tab)