Herron Todd White

I’m honestly lost for words.CommBank requested a valuation on one of my investment properties, and the valuation came back at $340,000, at approximately $100,000 less than market appraisals by real estate agents ($440,000).Herron Todd White compared the property (newly renovated) to unrenovated ones in other areas.Three nearby, comparable, houses sold for around the price (or higher) the real estate agents valued it for.Herron Todd White also compared the property to another in the same street which is for sale, stating that it could be ‘subdivided’. To confirm, this is false, as there is not room on the site due to the situation of the property.One property across the road of the same size and condition sold 9 months ago for $80,000 above the valuation on my property, but they did not take that into account, as they said it was advertised, then went ‘off the market’. A quick google search shows that it sold, and includes a listed price.I’ve asked CommBank for a review, but Herron Todd White declined. I’m not surprised, as these ‘valuers’ are clearly out of touch with the market, and I think a quick look at the online reviews shows this is clearly a trend.I will be taking this further with CommBank, and requesting they use actual valuers who know the market.

Beware! Completely out of touch with current market prices and property trends.