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'Muddy' valuation rules need reform

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Australian Broker | 15 Nov 2011, 05:00 AM Agree 0
A central registry of valuers should be created to stop borrowers having to pay for multiple valuations, a top broker has argued
  • 1martym1 | 15 Nov 2011, 11:21 AM Agree 0
    It's their money (the lenders) they have a right to be paranoid. If it was your money you would want to control; the valuation process. There are also PI issues for valuers that makes this idea unworkable.
  • Papery | 15 Nov 2011, 11:46 AM Agree 0
    Debt repayment via liquidation of the property is meant to be secondary consideration not the primary reason to approve or decline. If a deal stacks up on merit, ie the underlying cash flow is sound, then there shoudl be little reason for a Bank to be so paranoid about a valuaiton. If the underlying credit is weak, then decline on that basis, not wait for a crappy & contested valuaiton.
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