Standard Bank
Property Valuation

I requested a property valuation, as Standard Bank have valued two identical properties at totally different values. I require this for insurance purposes. After waiting several weeks for a response, I eventually got an email from Mr Singh in Durban to say that an assessor would contact me. Only thing is, I am in Cape Town, so I advised him accordingly. I am still waiting for someone to contact me to view the property. Today, 20 September I was informed via sms that the valuation has been done, and the value given is ridiculous! So I attempted to call Standard Bank, which is a nightmare in itself, finally getting through to a consultant who informed me that valuation was done by some genius sitting behind a computer in JHB, who obviously sucked some arbitrary figure out of his thumb! No wonder the value is totally out of line. Still trying to get an answer to my question though - why are the two identical properties, purchased at the same price, in the same complex, valued differently? Standard Bank don't seem to get it? Guess they are too lazy to remove themselves from their desks to do a proper job for their clients.

Company: Standard Bank
Country: South Africa
City: Head Office

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