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What are the Consequences of Not Conducting an Owners Corporation Valuation
Posted By StrataVal Property Valuers
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For one, your Owners Corporation Valuation may be inadequate. In the event of a fire, for example, your insurance company may only reimburse you for the value of your property as it was last appraised - meaning you could be left significantly out of pocket.
Additionally, if you are looking to sell your property, potential buyers will be basing their offer on the most recent Owners Corporation Valuation. If your property has not been valued in a while, you could be missing out on thousands of dollars.
Finally, if you are looking to borrow money against your Owners Corporation Valuation property, the lender will also be basing their loan amount on the most recent valuation.
If your property has not been valued in a while, you could be borrowing significantly less than the true Owners Corporation Valuation of your property.
If your property has not been valued in a while, you could be borrowing significantly less than the true Owners Corporation Valuation of your property.
Overall, it is in your best interests to ensure that your Owners Corporation has a current Owners Corporation Valuation.
This will protect you in the event of an insurance claim, ensure you are getting the best possible price if you Owners Corporation Valuation sell, and ensure you are able to borrow as much money as possible if you need to.
This will protect you in the event of an insurance claim, ensure you are getting the best possible price if you Owners Corporation Valuation sell, and ensure you are able to borrow as much money as possible if you need to.
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