In the past six months in
particular, there has been a number of examples of hotels sold,
where the sale process would have been a lot brisker if the vendor
had held a current valuation.
As a vendor, should a purchaser engage a valuer, you have no right
to a copy of this valuation as it is the property of the purchaser
or their Bank. Yet as a vendor if you have a copy of a current
valuation it is a great tool that can be released to potential
purchasers to reinforce the asking price of your Hotel, and if the
valuation is aged six months or younger some financial institutions
are prepared to accept the assignment of this valuation for the
purposes of an acquisition. There has been a growing disparity
between market value and Bank valuations.
John Williams
