HomesEstimate vs. Formal Valuation: Can You Use It to Get a Mortgage?

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. homes.co.nz 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.

And, can I use the HomesEstimate to get a loan?

No. Banks in New Zealand require a formal valuation by a registered valuer before they can register a loan against a property.  The HomesEstimate is not a formal valuation, and homes.co.nz is not a Registered Valuer.