Curb side valuation falls far below property sale price

We bought our first IP off the plan at Dandenong - Mosaic Apartments (2BR for $404.5k)
http://www.mosaicapartments.com.au/

After we've purchased the apartment (past cooling off period), we notice that Burbank is selling houses beside the apartment for $350k and we raised our concern of over pricing to our agent. The agent and developer replied that the high price is justified by the quality of the apartment. There's not much we can say or do so we let it go.

The apartment is due to be settled in Feb 15. When we asked our banker to prepare the loan, the curb side valuation came back at $340k, far below the sale price.

Initially we asked our banker to challenge the valuation and Opteon asked for comparable sale in the area; obviously we can't provide.

After we contacting our agent, they have worked with the developer to provide more information to the Opteon in the hope that Opteon will revise the evaluation. However Opteon is not keen in admitting their mistake.

I hope that some of you can share your experience in dealing with val coming below the sale price and what options do I have to improve it.

Thanks in advance.



ps. We were drawn in by the agent's pitch where VIC state gov is investing $290m to revitalize Central Dandenong and the agents has bought 6 units of apartment prior to launch
http://www.places.vic.gov.au/precincts-and-development/revitalising-central-dandenong
 
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