Valuations

m2btj
Member of DD Central

Posts: 631

Likes: 772

Valuations Aug 22, 2019 8:49:39 GMT registerme likes this

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This is a great example of a property valuation that went 'south'! Had this property been a P2P loan the 'security' looked rock solid....no pun intended! Valuers have no appreciation whatsoever of a property's value when it goes to auction or 'fire sale', as we have all seen to our cost! RICS take note!

www.msn.com/en-gb/money/homeandproperty/a-beverly-hills-property-once-listed-for-dollar1-billion-just-sold-for-dollar100000/ar-AAG7AWM?li=BBoPWjQ&ocid=mailsignout

mikeh Member of DD Central Posts: 499 Likes: 370	Valuations Aug 22, 2019 11:03:13 GMT ozboy likes this Quote Select Post Deselect Post Link to Post Back to Top Post by mikeh on Aug 22, 2019 11:03:13 GMT If I've got my maths right, that is an overvaluation of 999,900 %.

gravitykillz
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Posts: 1,296
Likes: 398

Valuations Aug 25, 2019 6:13:58 GMT via mobile

Quote

This is a great example of a property valuation that went 'south'! Had this property been a P2P loan the 'security' looked rock solid....no pun intended! Valuers have no appreciation whatsoever of a property's value when it goes to auction or 'fire sale', as we have all seen to our cost! RICS take note!

www.msn.com/en-gb/money/homeandproperty/a-beverly-hills-property-once-listed-for-dollar1-billion-just-sold-for-dollar100000/ar-AAG7AWM?li=BBoPWjQ&ocid=mailsignout

Seems like a good deal from a certain angle. But the information I read was the buyer would also incur and be liable for a debt of $200 million

Last Edit: Aug 25, 2019 6:31:07 GMT by gravitykillz

gravitykillz Member of DD Central Posts: 1,296 Likes: 398	Valuations Aug 25, 2019 6:16:31 GMT via mobile Quote Select Post Deselect Post Link to Post Back to Top Post by gravitykillz on Aug 25, 2019 6:16:31 GMT www.hollywoodreporter.com/news/beverly-hills-billion-dollar-listing-mountain-sells-100000-1233456

gravitykillz Member of DD Central Posts: 1,296 Likes: 398	Valuations Aug 25, 2019 6:20:28 GMT via mobile Quote Select Post Deselect Post Link to Post Back to Top Post by gravitykillz on Aug 25, 2019 6:20:28 GMT So considering the trust that purchased the land for 100k was owed $200 million. One could argue they paid over $200 million for it which seems a fair price. Any other bidder would have been liable for that debt.
	Last Edit: Aug 25, 2019 6:29:45 GMT by gravitykillz

gravitykillz Member of DD Central Posts: 1,296 Likes: 398	Valuations Aug 25, 2019 6:23:58 GMT via mobile Quote Select Post Deselect Post Link to Post Back to Top Post by gravitykillz on Aug 25, 2019 6:23:58 GMT Kind of like when Chelsea fc was sold for £1 in the 80's but had millions of pounds worth of debt that the purchaser would be liable for.
	Last Edit: Aug 25, 2019 6:30:32 GMT by gravitykillz