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Challenging valuations 'absolutely appropriate': RP Data

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Australian Broker | 19 Sep 2011, 06:30 AM Agree 0
It is appropriate to challenge the outcome of valuations provided brokers have done their own due diligence, according to research firm RP Data
  • SteveMc | 19 Sep 2011, 05:04 PM Agree 0
    Absolutely agree with appeals provided broker has done their research. A Valex valuer missed 4 higher sales of comparable properties within 500 metres of my clients SE Sydney home, and as a result the deal was declined. On appeal, the supervisor (based in Adelaide) said that the valuer had not erred, despite my findings. The new lender's valuer (non Valex) accepted those finding and deal was approved, but after much hoohaa. Valex creates a low appeal success rate from their unreasonable responses, then says these statistics prove their case.
  • Blacky10 | 20 Sep 2011, 12:13 PM Agree 0
    Absolutely agree.

    Some valuers believe they are above accountability
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