Oireachtas Joint and Select Committees

Wednesday, 13 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Patrick Davitt:

Well, I think haggling about the value is one thing, but discussing the value, let it be haggling or discussing or whatever it is, because a valuer will make up his mind to the value of a property and, obviously, if the developer as you speak about there thought the valuation is differently, well then, obviously they, will contact the valuer and then say, "Listen we think that valuation is incorrect", or whatever the case may be. So the valuer will say, 'Why do you think it's incorrect,' and then, if this is what you call haggling, the valuer could say, 'Well, did you take into consideration this, did you take into consideration that?" And the valuer then, obviously, from his point of view or her point of view has to decide on if they took this into consideration or they didn't. So if that's the haggling part-----