Valuers World
  
Valuation report when forged

 
Post new topic   Reply to topic    Valuers World Forum Index -> Discussions
(HELP?) View previous topic :: View next topic  
Author Message
djagan1949



Joined: 07 Jan 2009
Posts: 298

PostPosted: Thu Nov 22, 2018 11:25 am    Post subject: Valuation report when forged Reply with quote

Dear Sirs,

 

Recently there was a news that a Nationalized Bank had booked a valuer for fraud in a Rs. 26.00 Cr property which they could not take for possession due to some encunbarence. But valuer had clearely stated that he had not given any valuation for that property and his valuation report is forged by some one. This can happen to any one of us.

In such instances what is the safety for valuers? Bank as well valuer becomes helpless once loan is disbursed relying on valuation report.

Regards

Vr. D. Jagannathan

Back to top
View user's profile Send private message

amibrahim



Joined: 03 Sep 2008
Posts: 376

PostPosted: Thu Nov 22, 2018 12:37 pm    Post subject: Valuation Profession Reply with quote

Dear Valued Friends,

After commpliments,

Back to top
View user's profile Send private message

djagan1949



Joined: 07 Jan 2009
Posts: 298

PostPosted: Sun Nov 25, 2018 8:54 am    Post subject: Valuation report when forged Reply with quote

Dear Sir,

This proceedure is not followed in many banks. They tell orally and get the job done. Since too busy in bank they visit the site independantly at their convenience. It will be better if they make title clearence and our valuation report references in the MOD they create with party in SRD or RD. This will dispel all ambiquities in the credit process and put a full stop to manipulations without any risk for the financial institution.

Regards

Vr. D. Jagannathan

Back to top
View user's profile Send private message

amibrahim



Joined: 03 Sep 2008
Posts: 376

PostPosted: Mon Nov 26, 2018 1:24 pm    Post subject: Bank-Valuer-Procedure Reply with quote

Dear Sir,

The case history is not known. If a statement from the aggrieved or accused valuer is received, it will guide us to proceed further.

Normally valuation report may contain, inter alia,

DOCUMENTATION:

In preparing our valuation we have been supplied with:

  • Patta Copy……..
  • Document No. 0000/2017 of sub registrar: Kadayanallur/Distric: Tenkasi and Zone: Tirunelveli

·         Floor Plan. And ………

We have not seen or read any original documents. The accuracy of all documents and information presented to us should be legally tested by your legal advisors.

SCHEDULE OF PROPERTY

The property borders and dimensions are as follows:

  • On the North side:                Plot No. 100& 100/B              83.3 feet
  • On the South side:               Plot No. 111                              83.3  feet
  • On the East side:                  Road 12.20 m wide               60 feet
  • On the West side:                 Road 12.20 m wide               60 feet

The total land area on the Sales Deed of plot is 5,000 sq.ft (464.50sq. m). or

The official surveyed co-ordinates of the boundaries are as follows:             

Top                 LHS                             0000000N                   000000E

Bottom           LHS                             0000000N                   000000E

Top                 RHS                            0000000N                   000000E         

Bottom           RHS                            0000000N                   000000E

The total land area on the Sales Deed of plot is 5,000 sq.ft (464.50sq. m).

CONDITION OF VALUATION

We have not undertaken a site or soil survey. 

We have not carried out a services survey 

We have assumed that the property is freehold.  We also assume that the property is unaffected by any statutory notice. 

LAND USE PLANNING 

It is assumed that the property is not subject to any adverse legal notices or proposals.

Regards

A. M. Ibrahim

 

Back to top
View user's profile Send private message

djagan1949



Joined: 07 Jan 2009
Posts: 298

PostPosted: Sat Dec 01, 2018 9:14 am    Post subject: Bank-Valuer-Procedure Reply with quote

Respected Sir,

Two fraud cases registered by CBI and investigation is going on. Valuer is different in each case though bank is same. They are blaming the lawyer also for giving title clearence.

Recording of co-ordinates for all four corners of the plot is an excellent idea and will be useful for bigger plots.

Four conditions you have mentioned is also thoughtful one and it will absolve the valuer of any inadequecies in soil bearing capacity, abnormal variations in contour of the field and legal encumbarences if any.

Regards

Vr. D. Jagannathan

Back to top
View user's profile Send private message

Display posts from previous:   
Post new topic   Reply to topic    Valuers World Forum Index -> Discussions
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You can download files in this forum

You are visitor no. 12373532


Copyright ValuersWorld.com © 2008

Powered by Kragos