On valuation of one of our properties, the Surveyor down-valued the property by 18%, which created a large deficit and would have resulted in the need to fund the difference with our own capital reserves if we were to proceed with the project.
We, however, felt that the valuation needed further review, as we had done extensive research on the property and knew its value. Rather than lodge our own dispute, we felt that having external Agents do this on our behalf would add significance to the appeal.
We therefore approached two independent Agents with whom we’d previously worked and they both, very kindly, prepared and submitted (at no cost) a written report demonstrating the true value of the property.
This approach was met with a favourable outcome and the value adjusted accordingly. Our Broker advised that appeals being accepted are extremely rare (he had only seen one successful appeal in his entire career) and that our appeal was structured by our Agents in the most professional way he’d seen.
What does this mean?
Having external businesses eager to work with Inspired Equity and who are willing to provide their professional services to achieve results for us means that we are able to improve use of our capital funds, improve cash-flow, protect investments and achieve greater returns.