ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 14, 2018 14:30:54 GMT
So why don't you come on and defend your "Profession"?
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pom
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Post by pom on Apr 14, 2018 18:24:44 GMT
So why don't you come on and defend your "Profession"? Gosh I'm sure they'll be falling over themselves to respond to that invite
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Post by dan1 on Apr 14, 2018 20:00:09 GMT
So why don't you come on and defend your "Profession"? Like the mods don't have enough to deal with? 
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Imothep
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Post by Imothep on Apr 14, 2018 21:22:12 GMT
i’m not a valuer but i use them , i pay big fees to use them, all i can say in the defence of the ones i use on my patch is that they will not be pushed into a number ... they really won’t and they are brutal on build budget , resale’s and comparables , there is no inflating .....
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 14, 2018 21:41:58 GMT
And I believe you Imothep.
Which possibly confirms the suspicions that me and many others on here have regarding the particular Valuers that are used by The Borrowers and Platforms.
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hazellend
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Post by hazellend on Apr 14, 2018 22:11:29 GMT
And I believe you Imothep. Which possibly confirms the suspicions that me and many others on here have regarding the particular Valuers that are used by The Borrowers and Platforms. Like Krappy Messie?
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Post by charlata on Apr 15, 2018 7:56:28 GMT
So why don't you come on and defend your "Profession"? Given vr's so often seem to mislead you, has it occurred to you that perhaps it is you that has misunderstood the vr's rather than the entire surveyor profession being at fault? vr's rarely give any indication of what an asset will be worth in a default situation. Indeed many of the vr's we see don't even indicate it's current OMV. They just say something utterly trivial like: - if market rents are assumed to be 8% this asset would be worth x/0.08
- if the developer's estimate of build costs is accurate this site would be worth x-y
If all you do is read the headline figure and ignore the 19 pages which explain how it was derived, is it really the headline figure which is at fault? That said there are bad surveyors, just as there are bad brokers, bad developers and bad regulators.
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mason
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Post by mason on Apr 15, 2018 9:44:57 GMT
So why don't you come on and defend your "Profession"? Given vr's so often seem to mislead you, has it occurred to you that perhaps it is you that has misunderstood the vr's rather than the entire surveyor profession being at fault? vr's rarely give any indication of what an asset will be worth in a default situation. Indeed many of the vr's we see don't even indicate it's current OMV. They just say something utterly trivial like: - if market rents are assumed to be 8% this asset would be worth x/0.08
- if the developer's estimate of build costs is accurate this site would be worth x-y
If all you do is read the headline figure and ignore the 19 pages which explain how it was derived, is it really the headline figure which is at fault? That said there are bad surveyors, just as there are bad brokers, bad developers and bad regulators. In fairness, a good proportion of the VRs I've reviewed give an opinion of current market value of the property in its present condition, quite often with a figure under an assumption of limited marketing period. On quite a few occasions, a quick review of recent sale prices of essentially identical properties (sometimes the same property) reveals a huge discrepancy with no satisfactory explanation. I believe that is the sort of thing to which ozboy is referring.
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Imothep
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Post by Imothep on Apr 16, 2018 1:15:56 GMT
Given vr's so often seem to mislead you, has it occurred to you that perhaps it is you that has misunderstood the vr's rather than the entire surveyor profession being at fault? vr's rarely give any indication of what an asset will be worth in a default situation. Indeed many of the vr's we see don't even indicate it's current OMV. They just say something utterly trivial like: - if market rents are assumed to be 8% this asset would be worth x/0.08
- if the developer's estimate of build costs is accurate this site would be worth x-y
If all you do is read the headline figure and ignore the 19 pages which explain how it was derived, is it really the headline figure which is at fault? That said there are bad surveyors, just as there are bad brokers, bad developers and bad regulators. In fairness, a good proportion of the VRs I've reviewed give an opinion of current market value of the property in its present condition, quite often with a figure under an assumption of limited marketing period. On quite a few occasions, a quick review of recent sale prices of essentially identical properties (sometimes the same property) reveals a huge discrepancy with no satisfactory explanation. I believe that is the sort of thing to which ozboy is referring. Not possible in London , we all use a system called Lon Res , it has all the sales prices / sq ft / lease lengths etc and details for every sale , or really takes the guesswork out of GDV’s ... I would be astonished if I saw a VR that didn’t have resale’s from Lon Res in it for comparables
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Apr 16, 2018 11:35:57 GMT
So why don't you come on and defend your "Profession"? Given vr's so often seem to mislead you, has it occurred to you that perhaps it is you that has misunderstood the vr's rather than the entire surveyor profession being at fault? vr's rarely give any indication of what an asset will be worth in a default situation. Indeed many of the vr's we see don't even indicate it's current OMV. They just say something utterly trivial like: - if market rents are assumed to be 8% this asset would be worth x/0.08
- if the developer's estimate of build costs is accurate this site would be worth x-y
If all you do is read the headline figure and ignore the 19 pages which explain how it was derived, is it really the headline figure which is at fault? That said there are bad surveyors, just as there are bad brokers, bad developers and bad regulators. No, I don't think I misunderstand VRs at all charlata. Au contraire, the problem that RICS and some of its "Professionals" have is that most of us DO understand VRs.
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Imothep
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Post by Imothep on Apr 16, 2018 13:28:19 GMT
So why don't you come on and defend your "Profession"? Given vr's so often seem to mislead you, has it occurred to you that perhaps it is you that has misunderstood the vr's rather than the entire surveyor profession being at fault? vr's rarely give any indication of what an asset will be worth in a default situation. Indeed many of the vr's we see don't even indicate it's current OMV. They just say something utterly trivial like: - if market rents are assumed to be 8% this asset would be worth x/0.08
- if the developer's estimate of build costs is accurate this site would be worth x-y
If all you do is read the headline figure and ignore the 19 pages which explain how it was derived, is it really the headline figure which is at fault? That said there are bad surveyors, just as there are bad brokers, bad developers and bad regulators. There are bad lenders as well , just saying ...
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