Is a HomesEstimate a formal valuation?

Is a HomesEstimate a formal valuation?

Absolutely not. The HomesEstimate is not a formal valuation and you won't be able to use it in place of a valuation, though you can certainly share it with real estate professionals. It is a computer-generated estimate of the worth of a house today, given the available data. does not offer the HomesEstimate as the basis for any specific real-estate-related financial transaction. Our data sources may be incomplete or incorrect; also, we have not physically inspected a specific home. Remember, the HomesEstimate is simply a starting point and does not consider all the market intricacies that can determine the actual price a house will sell for.
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      If you have received a formal valuation report from a registered valuer or a recent comparative market analysis (CMA) from a Real Estate Agent, you can help us improve the accuracy of your HomesEstimate.    To update your HomesEstime using a formal ...
    • What is the HomesEstimate?

      The HomesEstimate valuation is our estimated market value, computed using a proprietary formula. It is not a formal valuation. It is a starting point in determining a home's value. The HomesEstimate is calculated from data available to, ...
    • How do I update a HomesEstimate?

      We understand that our HomesEstimate does not always accurately reflect the value of a property. For this reason, we allow you to update it with a CMA range. To upload a CMA range you must have written permission from the vendor. Login to your ...
    • My HomesEstimate is too low or high?

      The HomesEstimate is a starting point in figuring out the true value of a house. The amount of data we have for the house affects the HomesEstimate accuracy. Price history and property facts: Check to see if your price history (the sale price and ...
    • Can I use the HomesEstimate to get a loan?

      No. The banks in New Zealand require a formal valuation by a registered Valuer to be done on a property in order to register a loan against that property.  The HomesEstimate is not a formal valuation and is not a registered Valuer.