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Unfortuantely this doesn't always work either. In another case the owner bought 6 months prior for what she felt was well under market value. She explained this to the valuer, providing comparible sales to what she thought was reasonable. The valuer nodded politely. The valuation came back...

In one instance for a construction loan, the valuer used figures something as follows: Land Value: $300,000 Construction Value: $200,000 (straight off the building contract) Total Value: $550,000 Horray we thought! The valuer has recognised that the end result will...

I don't believe they're infallible. I've seen hundreds of examples where two valuers have substantially different results, or a valuation is performed and shortly afterwards the property sells for significantly more than the valuation. I've deal with valuers who have indicated one thing...

The argument could be made that you bought it at market value, given the price paid was what two groups agreed on at a specific point in time, thus defining what the 'market' was willing to pay. It's very rare for a valuation to come back higher than the price paid. When they do there's...