James Bretten
Variance in commercial property valuations for lending purposes: An empirical study
Bretten, James; Wyatt, Peter
Authors
Peter Wyatt
Abstract
Investigates the extent and possible causes of variance in property investment valuations for commercial lending purposes within the UK. A literature review was undertaken and a questionnaire survey was circulated to individuals involved in the commercial property valuation process in order to gauge professional opinion. The survey revealed that the main cause of variance was found to be a result of the individual valuer's “behavioural influences”. The survey also found that parties to a valuation instruction widely accept the margin of error principle, the legal manifestation of valuation variance, as a test of negligence. © 2001, MCB UP Limited
Citation
Bretten, J., & Wyatt, P. (2001). Variance in commercial property valuations for lending purposes: An empirical study. Journal of Property Investment and Finance, 19(3), 267-282. https://doi.org/10.1108/14635780110387619
Journal Article Type | Article |
---|---|
Publication Date | Jun 1, 2001 |
Journal | Journal of Property Investment & Finance |
Print ISSN | 1463578X |
Publisher | Emerald |
Peer Reviewed | Not Peer Reviewed |
Volume | 19 |
Issue | 3 |
Pages | 267-282 |
DOI | https://doi.org/10.1108/14635780110387619 |
Keywords | commercial property, valuations, lending, commercial property, individual behaviour, United Kingdom |
Public URL | https://uwe-repository.worktribe.com/output/1088732 |
Publisher URL | http://dx.doi.org/10.1108/14635780110387619 |
Additional Information | Additional Information : Lead author. The research on which this paper is based was funded by the RICS Education Trust and the full report was published in the RICS Research Paper Series. The findings of this research help identify the causes of valuation variance and contributes to the debate on valuation uncertainty, accuracy and variance. |
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