Im sure such things happen for BA's and groups of all sorts/
All the transaction for my various unrelated clients have made via Paul have valued up fine under normal market conditions, using Valex and VMS panel valuers through their systems - thats a core sanity check for any purchase, especially if you dont have an understanding of the local market.
I cant say the same of some buyers clubs etc where we have had some real fun especially in the new stock space.
ta
rolf
Value of a property is only one component.
PF provides many services - project management/consulting services, rental management, renovations services, BA services.
My value came in fine, its everything else that went pear shaped because the estimated figures were wrong/underestimated, the renovation project - well they did not quote all the work required though this was their brief, they underestimated the project, yet PF was paid a consulting fee for this. He mentioned that I did not have to pay this then did a backflip and charged me for this, even though he stuffed up as the consultant.
Underestimated the rental income, made a difference to the yield.
PF property management company well they did not even write up a comprehensive rental property report, they only took photos. I am not sure if this is legal? My new property management company were in shock from paperwork they viewed, or lack of paperwork. They were also disgusted after reading one of his aggressive emails to me. Fortunately I moved on and ended up with a great property management company who sorted out all the mess, and did amazing things way beyond what is the norm, I think they felt sorry for me and what PF put me through. They re-tenanted the property and made arrangements to sort out stuff, thanks Rolf you recommended this RE company they were just brilliant.
I have no one to blame but myself for not thoroughly investigating all the information provided. I no longer have the property I on sold it as the market started rising and thought it would be wise to take my money and run, I realised that this property would be one continual headache.
I have nothing good to say other than "buyer beware"
MTR