Valuations – Don’t Get Me Started!
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 (issue 34), and things certainly do not seem to have got any easier, or more transparent, since then. In fact, they appear to have become more complex.
One common complaint is the sheer inconsistency of valuation reports between one Company and another, and even between different valuers working for the same Company. To my way of thinking, it should not be that hard to value a property. If all valuers are trained to the same standard and using a similar process we should not get the wide variations that we often see. So where is it going wrong?
Ian Hosking Richards is a successful property investor with a portfolio of over 30 properties. He is the CEO and founder of Rocket Property Group, a leading independent real estate agency that helps hundreds of people each year enter the property market or grow their existing portfolios.
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