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Some agents of sellers of condo apartment claim that they have valuations done the houses done by bank. Can the buyer trust that the valuations are fair? How are such valuations done? Is there as on-site inspection of the house?
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3 Answers

Valuation done by banks are what we typically call the "table-top" valuation. Bankers get their professional valuers to give an indicative valuation based on transactions of similar properties in the vicinity. These table-top valuation is quite accurate for condominiums (as valuers have a very good idea about the unit) but for landed properties, many other factors affect the values that can only be ascertain only upon site inspection. On-site inspection cost between $400 to $1000 whereas "table-top" valuation are free. A good valuer's table-top valuation can to up to +/- 10% accurate Read More
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