Valuation for luxury apartments

Are banks normally VERY conservative with valuations on luxury apartments?

mine came in 100k+ under the indexed price. In auction 3 people hit the indexed price.

They also compared my property to none that are comparable including a notorious building that was in the news (1 railway parade, burwood)

I asked for review and they obviously didnt accept it. Another valuer had it at 30k under indexed price, but the bank i want to use only accepts the value based on how "amazing" 1 railway parade is.
 
30 k under is what % of the price Pls ??


valuers will generally value what they think its worth, based on the comparable data available.

If you get 1 bad val there is a moderate chance they might be wrong. if you get 2 bad ones, that chance gets smaller,and by the time you get 3 bad ones, the odds are that the valuers are pretty much right

ta
rolf
 
What is an 'indexed price'? Property isn't a listed asset class and there is no readily discernable index AFAIK.

If you are talking luxury units, why are they using comparables in Burwood? :confused:
 
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