Valuers Registration Board

The complaint against Valuer S was received by the Registrar of the Valuers Registration Board. The complaint was in connection with two valuation reports dated 11 September 2007 and 7 August 2009 respectively carried out on a rural property. In the first report Valuer S had valued the property at $400,000 inclusive of GST if any as at 9 September 2007. In the second report Valuer S re-valued the property as at 10 August 2009 with a valuation of $250,000 inclusive of chattels and GSR if any. Their initial valuation made a recommendation that the property was suitable for advance by way of first mortgage funds of up to 60% of their assessment of current market value.