Valuing The Purchase Price Of Property - Is The Purchase Price Of Property The Best Evidence Of Value?
- Topics:
- Negotiations and Contracts
- Tags:
- Capital Structures,
- Finance,
- Investment,
- Mortgages,
- Property
- Source:
- Pacific Rim Real Estate Society
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Overview: The role of the valuer in undertaking a valuation is to determine the value of the property being valued. In the case of mortgage valuations, where the purchaser has agreed and exchanged contracts on a property, it may be presumed that the role of the valuer is to confirm or reject the purchase price as value. In the competitive mortgage market there is pressure on the valuer that suggests the purchase price of property is ultimately the best evidence of value. This paper firstly determines the purpose of the mortgage valuation given the proposition that the purchase price of property is the best evidence of value. Secondly cases have been reviewed that have presumably endorsed the proposition that the purchase price of a property is the best evidence of value.
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Format: PDF | Size: 159KB | Date: Jan 2006 | Pages: 14
