First, do RV and GV refer to the same thing? What about the term "valuation", is it the same as RV/GV? Does the QV valuation report give an idea of how much the house is suppose to sell for, or the current RV/GV?

We noticed that, it seems most houses in the market are asking for (BBO/BEO) around $100k above the RV/GV. I was told by property agents that a realistic selling price is 20% above RV/GV. Is that about right? Especially for those of you who has bought a house in NZ already?

I understand it's different in different parts of the country. Just like to have a feel of whether to believe the words of these agents, or are they just saying that to make us make a higher-then-necessary offer.

I'm asking these questions because, back where we came from, houses are sold "at" or "below" valuation. Even if "above", it is only about 5k more. Pardon me, but I do find it hard to stomach that we have to look at 100k above valuation here

On the other hand, we don't want to waste precious $$$$ on the conveyance lawyers making unrealistic offers that will never be accepted. Is it possible to make a "verbal offer" to guage the seller's response first, before making a formal lawyer's offer?