Hello All, we are looking for some advise please. We are selling an investment property that has found itself in difficulty. We asked the bank could we sell the property at today's values and after sale pay them the outstanding shortfall. The bank asked us to arrange for an estate agent to visit the property for a valuation. The estate agent was to be nominated by the bank. The valuer arrived on the day of valuation and informed us that the property had not lost any value since the boom. We explained that we had a local valuer value the property and they valued it at a lot less.
We are concerned that the banks overly confident valuation will frighten perspective buyers.
Our question, can we contest the valuation?
We are concerned that the banks overly confident valuation will frighten perspective buyers.
Our question, can we contest the valuation?