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Very sensible approach, Rolf.

As unfashionable as it might be, valuers get it right the vast majority of times. They are rarely out by a lot, as distinct from the emotionally involved borrower that will get it about right 50% of the time and when they are wrong it is invariably on the high side and by a lot. There are always...

Most lenders monitor the number of vas that come in under borrower's expectations because it adds to rework rates and, therefore, cost. The reality is people tend towards overly optimistic numbers. By way of example, my last lot of reporting for refinances had 30% over estimated by 20% or more...