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• FAQs

FAQS

1. How much does a valuation cost?

The cost of a valuation depends upon three issues:

• The purpose
• The property type
• The property value

Please contact our office for more details on exact pricing.

2. What is covered in a valuation report?

• Location Details.
• Land information.
• Details of site and structural improvements.
• Sales in comparison of recent market transactions.
• General comments on the property and the market.
• Any negative features noted. ie: repairs
• Valuation assessment.

3. Do you need access to the property?

All properties must be inspected both internally and externally. The only exemption for this process is known as a Restricted Valuation, which involves an external inspection. A Restricted Valuation is only available to financial institutions.

4. How long does a valuation take?

The anticipated inspection time will vary depending on the type and size of property. Our valuers will advise the expected duration of the inspection when electing a convenient appointment time.

5. What if the property is tenanted or being sold?

If the property is currently tenanted or in the process of sale, we will need contact details of either the managing agent/selling agent, owner or tenant to arrange an inspection time.

6. What does a Valuer do?

Real Estate valuers are involved in establishing the value of all types of land, property and many subsidiary interests that may be held in real estate. Valuation is a process of observation and measurement of the characteristics of property, location and economic activity, whereby this data is collected, evaluated and analysed to produce an accurate and objective estimate of the value of property. That is, the most likely price a property would fetch if placed for sale in any market climate.

Much of the professional valuer's time is spent in the field, inspecting properties, interviewing people involved in real estate transactions and identifying other market trends and characteristics. Valuers tend to be employed fairly evenly between public and private sectors. In the private sector most valuers are employed by major real estate agencies and various financial institutions, such as banks, insurance companies and building societies. The types of valuations carried out include those for determining mortgage security value, for determining the feasibility of a development proposal and for checking various statutory valuations. In the public sector, valuers are required to provide values used as a base for collecting rates and taxes, to check the value of assets for income tax purposes and to determine the compensation which should be offered to a person whose property is to be either partly or wholly acquired for public projects such a schools, highways, railway extensions etc.