Forced Sale and Mortgagee in Possession Valuations

A mortgagee has a statutory duty to obtain ‘market value’ when conducting a mortgagee sale (section 420A of the Corporations Act).  Failure to do so, can give rise to costly and protracted litigation with the borrower, loan guarantors or other interested parties.

As the mortgagee assumes this statutory duty upon taking possession of a property, it would be considered prudent for the mortgagee to obtain a valuation to confirm any negotiated sale price is representative of market value.

As part of our reporting standards, we are able to provide the mortgagee, information in relation to items at the property which may require repair, both considered essential and simply recommended, along with estimates of their cost to repair.

As industry-leading valuers, Powerhouse Property Professionals pride ourselves on having the highest degree of integrity, professionalism, independence and transparency, ensuring you receive an unbiased and accurate valuation report. Please phone us on 1300 097 912 or fill out our quotation request form via the link below