Questioning valuers opinion

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From: T I


I was wondering what people think of roundabouts in front of IP's. We recently had a valuation performed and the valuer came back saying that the roundabout detracts from sale value.

Thanks in advance for any opinions.
 
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Reply: 1
From: Jan Hellyer


Hi,
I would question the size of the roundabout. Is it a "black spot" eg 5 Ways at Miranda (Sydney)or is it a suburban intersection. A small roundabout will actually improve traffic flow.
Never be afraid to question any Valuation Report. If he/she claims a roundabout lowers the price ask them for comparable evidence. You could also seek a second valuation if you wanted to be sure. Alternatively talk to local agents. Ask how much rent would be realised by the property. If it is less than neighbouring properties then it's fair to say that its value is also less.
Finally, you're obviously prepared to buy it at a certain price, but would you live there? A low val may do you a favour & scare you off as tenants can be very fussy & you may have trouble trying to rent it out.
Good Luck!
 
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