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Banks vs Valuers

from Matt (Mattyc@ntlworld.com)
I have been looking though hundreds of court cases around 1996 where banks and building societies took valuers to court stating that they had been negligent in their valuations and as a result shortfalls had been created. ALL those I have looked at were dismissed as statute barred (6 years) and all seemed to arise from repossessions and the valuation at the time. This says to me that they decided that the valuations were wrong and that is why they could not get 'best possible value'. I wonder if any of the people whose repossessed properties in these cases are being chased. If they are then they surely have an excellent defence in the sale being negligent???
(posted 8541 days ago)

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