- shaunwalkerMember@shaunwalkerJoin Date: 2003Post Count: 403
I didnt think of it that way! yes i understand with what you are saying. I guess i still have a lot to learn. Steve mentions in his book (somewhere) that he walked away from deals because he wouldnt pay what they were asking, even though they were still good deals.
you have given me food for thought
shaunwannabe2Member@wannabe2Join Date: 2003Post Count: 65
kay i like your posts you obviously have a good heart shame theres not more people around like you,i recently lost out on a house i should have bought at auction and was kicking myself afterwards but the upside was that a young couple got their foot on the ladder which i am glad about kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737
Thanks wannabe :o) I’ve even thought about getting out of property investing because it becomes more difficult sometimes to do what feels right, and not to merely “justify” what I’m doing. But it does have its own rewards. I’ve pretty much fallen for every piece of brick and mortar I’ve purchased. I think if I continue to reflect on what I’m doing, I’ll feel good about property investment.
kay henryKerreniMember@kerreniJoin Date: 2003Post Count: 2
I work for one of the major players in lending, and when we hire valuers to go out and value properties for us, they take a look at the property the market and what risks there is of the property price decreasing, along with how it compares to similar properties in the area.
Yes there have been some instances when the clients havent agreed with the valuation and it is for the very reason that someone else mentioned earlier, if there are no sales in that area to compare to what has a valuer got to work with. Though 99% of valuations i request would come back with the agreed purchase price as the actual valuation amount. Unless someone seems to be getting a bargin do i tend to see a higher valuation.