Property Point Dexter answers some regularly asked questions on valuations. How and why do valuations vary?
For example, a bank’s valuation versus the figure an independent valuer gives the same property? Valuation is not an exact science, it is an opinion based on information available and market conditions as at a particular date in time. By way of example, a property has a value within a price range and depending on the valuers opinion. Generally they will assess its value somewhere within that range with rationale for same, so it is not surprising that you will get differences of opinion, typically, these differences should be around 10 per cent. >>> Property Point Dexter – Oct 20, 2009.
