Richard Petty on the lender – valuer relationship
By Richard Petty
Loan security valuations are for lenders. They are instructed by lenders, and reported to lenders. And, at the risk of “stating the bleedin’ obvious”, all property valuations for loan security purposes are given so that the lender has an independent opinion, at the date of valuation, of whether or not it could ultimately recover its debt through a sale of the security in a default situation.