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Valuations – Don’t Get Me Started!

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Your Investment Property | 29 Mar 2012, 12:00 AM Agree 0
The subject of valuations, and specifically low valuations, seems to be an ongoing issue in the property industry. I last covered this topic way back in May 2010 and things certainly do not seem to have got any easier...
  • Rob Hunt | 19 Apr 2012, 09:15 PM Agree 0
    Dear Ian,

    It is not only the fact that valuations are low and inconsistant, the true problem seems to be that valuers believe their valuations should never be called into question as they cannot be wrong. If you wish to dispute a valuation there does not appear to be an independant umpire or body where a dispute in a valuation can be heard and resolved.

    The other problem is that valuers are no longer seen as being independant as they are paid by the banks for their services. There needs to be a better system in place whereby valuers can retain their independance and valuations can be disputed and reviewed.

    Rob
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