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18 May 2008 12:33 AM:

Org, bank valuations have their use as they are at the moment the only benchmark one can use. A bank will lend you a percentage against that valuation, but not a percentage of what an owner is askeg for a property - big difference here to the UK or Ireland, but my thinking is they will start to cahnge to a comparison system - in the UK years ago the same scams were possible with people gaining finance for more than the actual purchase prices. Its pretty much stopped now unless you use a crooked broker, lawyer and agent together, and even then its not that easy any more.

Rixxy, thanks for the reply.  What if a purchaser was misrepresented into buying a propery which literally drops 100,000 euros in one year from the bank valuation?  Over here in England now a widely used and advertised property company called Inside Track has gone bust due to well over-valued valuations and low rental capacity/prices which were not covering mortgage repayments.  The purchasers are now suing the company.



Thread: Is there VALUE in the Costa de Sol Market?

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13 Feb 2008 1:55 PM:

Byron, dont you think that these Spanish valuation should be challenged?  As they are misleading people into thinking they have invested into a property?

Thread: Is there VALUE in the Costa de Sol Market?

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11 Feb 2008 1:58 PM:

Regarding bank valuations, has anyone had a bank valuation which was 'over valued' in order for them to receive a mortgage?

Thread: Drive-by valuation

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