Crowd sourcing: similar experience buying off the plan with low low valuation

Why people do not get an OTP independent valuation done (for mortgage security purposes) prior to purchase is beyond me.

They will get a $10k car checked but not spend a few hundred dollars on a valuation of a purchase worth hundreds of thousands, with significant financial liability.

Few do and most get a shock like this at settlement.
 
Why people do not get an OTP independent valuation done (for mortgage security purposes) prior to purchase is beyond me.

Didn't realise one could get OTP independant valuation! Would it be as simple as hiring a valuer and getting their professional (paid) opinion?
 
Although by the time the valuation comes up to be used it will be out of date....

yes but they should get one done either..

Before they sign..

or sign subject to a valuation.

No apartment project is that great it sells out before a valuation could be completed, no matter how much the sales person insists it will be.

No off the plan apartment in a new to be erected block that I have ever known has been sold below current market value!
 
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