is seen by the bank obtaining a registered valuation of the land an appointed

Is seen by the bank obtaining a registered valuation

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is seen by the bank obtaining a registered valuation of the land, an appointed agent for the real estate market who will market the property and also properly considering the offers made to them. In this case, the XSB did not involve a real estate agent and opted to go directly to advertising the sale in the media. Further, it is also evident that the bank did not consider the offers made to them and accepted the ones available which was below the property equity. This may have been contributing to the fact that the bank wanted to clear the loan without considering the duty of cared owed to the customer. If the fact that the bank was aware of the land valuation in the area, it would definitely suggest that the bank failed in its part. However, in the case that the bank saw a reason that would
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NEW ZEALAND BANKING LAW 5 affect the reliability of the valuation offered, it should present the case to the customer and make it clear to him and his lawyer. The bank is also not tired to the duty of care such that it has to wait for the best time to sell the property. The sale in this case does not entirely suggest a breach of the obligation of XSB Bank. In this case, the bank has to provide the information of the valuation of the property and show that the valuation and marketing plan was properly followed by their agent to avoid any consequences. In Bert’s case, XSB Bank
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  • Spring '19
  • Law, banks of New Zealand dates

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