How does the process work?

Your Bank or Broker has ordered a valuation on your behalf through the Valocity Platform. You will receive a payment link via email, once paid, the job will be randomly assigned to an independent Valuation Firm and Valuer who is eligible to complete your valuation report.

Once the valuation has been completed, the Valuer will upload the report to the Valocity platform which will then be emailed directly to you and your Bank/Broker.
 
How does a valuation query process work?

If you think that there is an error in the report or there are further items or sales evidence that you would like the Valuer to consider, then you are able to place a valuation query.

Once a query is received, the NZ Based Valuation Support team will review your query and, if required, escalate this to the Valuer who completed the report. The Valuer will review the items raised. If an amended valuation report is required, they will make the changes and upload this into the Valocity platform which will be emailed to you and your Bank/Broker.
Valocity provides quality control to our Lenders with a team of Registered Valuers who ensure that the report completed complies with the International Valuation Standards; the "Guidance Papers for Valuers & Property Professionals"; the bank endorsed Residential Valuation Standing Instructions and that the correct methodology is adopted when valuing a specific property type. Valocity are not mandated to influence a Valuers assessment of market value but will facilitate any query or complaint raised by a customer/lender/broker.   
As per section 5.1 of the Valocity terms and conditions, in compliance with the lenders requirements, Valocity must remain independent from the Valuation firm. The valuation services and resulting report are solely being supplied by the Valuation firm. Valocity’s involvement is limited to providing the technology system for ordering and delivery of the report.
After the query process is complete, if you wish to understand what other options/avenues you have available to you then please contact the Valuation Support Team for further advice by emailing support@valocity.co.nz