FAQs / Applying for a home loan

How does Tic:Toc work out the value of my property?

All FAQs

There are three ways Tic:Toc can value your property:

  • Automated Valuation Model (AVM),
  • desktop valuation, and
  • full valuation.

What is an Automated Valuation Model (AVM)?

If our tech can get a good read on your property, we'll do an AVM, which means we will value your property instantly by analysing values of comparable properties. How? We've integrated external providers, existing property and land databases and our own tech models to get a very good estimate of the value of your property.

What is a desktop valuation?

If we can't value your property instantly, we'll need to do 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's estimate value is more than $2 million
  • The property is a high density apartment

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

The good news? You won't need to pay any valuation fees, because we pick up the cost. Because if we can't do it instantly using tech, we make it our problem, not yours.